Re: Confused about the Federal Reserve?

On Sun, 25 Nov 2007 21:47:47 -0800, The Trucker announced to all in sci.econ

.. . .
existing money supply which is created by deficit spending. In the
"fractional reserve" system the banks can create money in addition to the
_real_ money that is created by government and spent into the economy.

s/_real_/_fiat_/

Now you have it right.

jmh

.

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