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Originally Posted by BigV
Today, the Federal Reserve's responsibilities fall into four general areas.
Conducting the nation's monetary policy by influencing money and credit conditions in the economy in pursuit of full employment and stable prices.
Supervising and regulating banks and other important financial institutions to ensure the safety and soundness of the nation's banking and financial system and to protect the credit rights of consumers.
Maintaining the stability of the financial system and containing systemic risk that may arise in financial markets.
Providing certain financial services to the U.S. government, U.S. financial institutions, and foreign official institutions, and playing a major role in operating and overseeing the nation's payments systems.
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Jebus, they're doing a shithouse job of it.
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if ZenGum's spitting USD then it will be worth as much as your USD or my USD, but he might be getting them at a considerable discount if his labor/investments are delivering returns in a different currency (likely), unlike you and me who are probably being paid in USD.
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I spit in Aussie dollars. A few years back 1 AU$ = US$0.75 or so.
Today, what with our interest rates about 5%, the Chinese buying our coal and iron ore like crazy and the woes of the greenback, AU$1 = US$1.09.
Mind you our house prices are fucking nutso high, but that's another topic.