Card V-6: BEN BERNANKE – But the U.S. government has a technology, called a printing press, … that allows it to produce as many U.S. dollars as it wishes at essentially no cost.

Series V · Card 6 of 21 · THE MINE

But the U.S. government has a technology, called a printing press, … that allows it to produce as many U.S. dollars as it wishes at essentially no cost.

BEN BERNANKE · FEDERAL RESERVE · 21.11.2002

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Source

Speech “Deflation: Making Sure ‘It’ Doesn’t Happen Here” (as Fed Governor), National Economists Club, Washington D.C., 21 November 2002

Open source · federalreserve.gov ↗

About the author

American economist (b. 1953). Chair of the US Federal Reserve from 2006 to 2014, steering it through the 2008 financial crisis. Nobel Prize in Economics 2022.

The question on the back

What in your life is valuable precisely because it cost you something?