Trey Smith
Recently, the US Federal Reserve announced their 3rd round of quantitative easing (QE3) to help stimulate the economy. The way this has been reported in the American mainstream media (like in this article) is to say that the Fed is printing money.
If you or I go down in our basement and start printing money, we certainly could stimulate our own economy! However, if we are caught doing this, we are liable to be charged with the crime of counterfeiting and land in jail.
I have admitted in this space before that I am no economist. Many of the complex concepts in economics fly right over my head. Hopefully, one or more readers will have a better grasp on this discipline than I do. If you are one of this people, would you explain to me why the Fed can print money and not be charged with a crime, but if you or I do it, we will find ourselves in a heap of trouble?
It just seems to me that if conjuring up money out of thin air is wrong for the masses, it should be wrong for anyone else.
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