Aggreggated by Olivia LaRosa, September 8, 2012
As many of you complained when I told you that the United States Government just printed money whenever it was running low, I offer the following:
The Japanese government has maintained the façade of complying with international banking regulations by “borrowing” money rather than “printing” it outright. But borrowing money issued by the government’s own central bank is the functional equivalent of the government printing it, particularly when the debt is just carried on the books and never paid back.
Saturday, 08 September 2012 07:25
By Ellen Brown, Truthout | News Analysis