SLP153 Philipp Bagus - What Most People Get Wrong About Deflation
Stephan Livera Podcast
00:00
What's the Difference Between the Central Bank and the Government?
In other countries of the world, it's more the government and the central bank create the environment. The governments are more independent and don't follow direct orders. And as you said, the mechanism is also more indirect. Tand just giving the central bank of inozela, giving the government the money. As you said here, there's a deficit in the us. Prints for the deficits papers and writes on these treasury bonds. In europe, first the commercial banks by thes pons, and then give it to the federal reserve. It essence is not so different, but it'sothey half em created this narrative that it's the entities from the government.
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