Commentary
How can a bank with the power to create money out of thin air manage to lose money and become insolvent? The Federal Reserve can do it. Here is how.
The Federal Reserve building is pictured in Washington on Aug. 22, 2018. Chris Wattie/Reuters
Robert Genetski
Author
Robert Genetski is a public speaker, author, columnist, and one the nation’s leading economists. He has taught economics at the University of Chicago’s Graduate School of Business and NYU. His latest book is “Rich Nation, Poor Nation: Why Some Nations Prosper While Others Fail.” Genetski’s website is ClassicalPrinciples.com.
