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the government is supposed to borrow by issuing treasury bills/notes. but maybe that's what was happening behind the scene, and doge monkeys just did not see the whole story.
Ok, but either way it’s money creation out of thin air.
Not quite. It puts the burden to repay on the next administration. )))
Yes, but the Fed created the money to buy the bills/notes/bonds. They're obviously different monetary policies, but it's not like printing money out of thin air is novel.
There's a decent chance you're right about the DOGE folks just not understanding what they found. The Treasury does still produce actual specie. Perhaps what they found is related to that process.
I mean, no — by far not enough.
It sounds like they've misunderstood a few of their bombshells by multiple orders of magnitude.
We'll see. There is something like $3T of spending that's unaccounted for.
From Understanding Money Mechanics:
In our current fiat money system, the Federal Reserve creates new base money when it buys assets by writing checks on itself.
yes, new money is new debt. so it is accounted for. creating out of thin air, like what doge presumably has found, would leave no trace.
It doesn't sound like this is without a trace exactly. They're supposedly creating new money to buy stuff. Is there no record of the purchases?
I don't understand the scandal. Doesn't everyone know that dollars are printed up out of thin air?
Maybe these computers are a previously unrevealed source of money printing, but why is that so important?