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In this episode, I listen to a clip from Lacy Hunt about whether or not the Fed can print money. It is taken as gospel in bitcoin that it can and that the Fed is so all-powerful it alone can destroy or prop up the economy. Of course, that opinion is wrong, the market is in charge. People will fight tooth and nail to keep their bias. Here Lacy Hunt talks about why reserves held at the Fed are not considered money, and that's all the Fed can do. Enjoy.
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