Fiat currency is funny that way.
Banks can just poof more money into existence.
You, however, cannot.
Don't forget just how leveraged that $500K initially was. Ponzi would be proud.
I can by using cash advances on my cards. The offers at 0% apr are essentially a small glimpse of the federal reserve's power.
>You, however, cannot.
Oh yes I can, I haz the manual https://en.wikipedia.org/wiki/Jerome_Powell
>degree in politics from Princeton University in 1975 and a Juris Doctor from Georgetown University Law Center in 1979,[2] he moved to investment banking in 1984, and worked for several financial institutions, including as a partner of The Carlyle Group.[2] In 1992, Powell briefly served as under secretary of the Treasury for domestic finance under President George H. W. Bush. Powell left Carlyle Group in 2005 and founded Severn Capital Partners, a private investment firm. He was a visiting scholar at the Bipartisan Policy Center from 2010 to 2012, before returning to public service.[2] He became a member of the Federal Reserve Board of Governors after being nominated to the post by President Barack Obama in 2012, and he was subsequently elevated to chairmain by President Donald Trump, succeeding Janet Yellen in the position. Powell was renominated as chair by President Joe Biden on November 22, 2021.[3][4][5][6] Powell built his reputation in Washington during the Obama administration as a consensus-builder and problem-solver.[2]
That's it
Lawyer->banking->politics->chief of poof money
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