QROT-187: Fed Reserve Chairman Admits They Keyboard Money Into Existence. And the Missing Transcript Content

Not that it is news. Those who have analyzed it know the definition of their process IS this. But still, for some it is somehow better to hear it from the horse's mouth.1. The admission.2. Even more interesting, that section of the 60 minutes interview is missing from most of the transcripts. But your dude Tyson found it. CBS News transcript where you CAN find the verbiage [POWELL:] We're not trying to move markets to a particular level. We just want them to work. We want, you know, people to be buying and selling. And so, you know, it felt like we really needed to act. And we did.PELLEY: Fair to say you simply flooded the system with money?POWELL: Yes. We did. That's another way to think about it. We did.PELLEY: Where does it come from? Do you just print it?POWELL: We print it digitally. So as a central bank, we have the ability to create money digitally. And we do that by buying Treasury Bills or bonds for other government guaranteed securities. And that actually increases the money supply. We also print actual currency and we distribute that through the Federal Reserve banks. PELLEY: In terms of size, Mr. Chairman, how does what the Fed is doing right now compare to the unprecedented action it took in 2008?Also reported in Forbes: Fed Chairman Powell 60 Minutes Interview Highlights Bitcoin’s Value Proposition