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Greider correctly points out that the Constitution gives Congress the power to create money, that the Fed creates money "out of thin air", and that the government could take over that power to use it for the public good.
The one nuance which Greider fails to address is that the government can bypass the Fed to create new money and credit. Congress can take over the money-creation power itself.
The benefit?
The government wouldn't have to pay interest to the banks on the money created. This would save trillions of dollars.
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