... Together, the programs from the Federal Reserve and the New York Fed are more than Congress approved in October for a bailout of the nation's banks and Wall Street firms. The Fed said the money will come from an increase in its reserves -- in essence, it is creating new money. (more)
Tuesday, November 25, 2008
800 Billion Dollars of *New* Money
CNN reports the creation of $800 Billion dollars out of thin air.