to Buy Treasury Securities!
And no, they are not going to "pump" it in.
They are buying Government securities, thus increasing the US debt.
1. Our Government creates Treasury Securities - a "promise to pay" from The Government.
2. The Federal Reserve buys them. Now the Government is in debt.
3. Later, the Treasury Securities mature and the Government has to buy them back from the holder - in this case the Federal Reserve Bank.
4. The Government has no money, it spent it! So the Government taxes you for the payment and the INTEREST that goes back to the bank. The same bank that created the money to buy the bonds, on a computer. "Presto"! They make it up, you do real work to pay them interest.
5. Stop doing it this way and you can get rid of the Federal Reserve Bank - it's an Unconstitutional monopoly, enslaving the American People, anyway.
6. Stop doing it this way and you will not need to tax the people. So, no IRS.
Now, if you can see that banks can create money - then pass the law that let's them create it debt free, for the benefit of all Minnesotans. We get brand new infrastructure for it, jobs and lower taxes!
A common sense solution.
A simple glitch in the accounting procedure gets a much needed upgrade and we can fix this broken economy.
Any State with a State Chartered Bank can do this too!
Help Minnesota make this change by sending emails as listed on this blog,
and we'll show you how to help YOUR STATE!