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<a href="http://www.accessmylibrary.com/article-1G1-198169116/creating-wealth-federal-reserve.html" title="Facts and information about Creating wealth: the Federal Reserve's ability to create money out of thin air and to manipulate the value of the dollar gives if ultimate control over the purse strings of every American household.(FEDERAL RESERVE)(Cover story)">Creating wealth: the Federal Reserve's ability to create money out of thin air and to manipulate the value of the dollar gives if ultimate control over the purse strings of every American household.(FEDERAL RESERVE)(Cover story)</a>
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Creating wealth: the Federal Reserve's ability to create money out of thin air and to manipulate the value of the dollar gives if ultimate control over the purse strings of every American household.(FEDERAL RESERVE)(Cover story)
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When the Federal Reserve announced on March 19 its latest offensive against the financial crisis--to purchase more than $1 trillion in government debt ranging from mortgage-backed securities to long-term Treasury bonds--Wall Street, the financial media, and the political classes had a conniption. Even the most diehard defenders of Fed Chairman Ben Bernanke and his monetary policies were aghast: surely this latest move would unleash long-latent inflationary forces that would cripple any prospects for a robust recovery. Even the New York Times made note of the danger, worrying that "the Fed was taking risks that could dilute the value of the ...
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