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RE: Bounty 10 Steem: Who creates the fiat money

in #question • 6 years ago

Both governments and banks can create money. Their favorite denomination is debt. The process and FED's role is actually pretty well described here:

https://en.m.wikipedia.org/wiki/Fractional-reserve_banking?wprov=sfla1

6 years ago in #question by
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     6 years ago 

    Congratulations! Your submission earned you 1.070 STEEM from this bounty. You have received 0.000 STEEM from the creator of the bounty and 1.070 STEEM from the community!

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