### Comment:
Technically, the Fed can buy treasuries only once they have been owned by at least one private entity. So in the strictest of senses, the Fed never prints money and hands it directly to the government. 
  
 However, when the Fed is offering a guaranteed price for those securities, that’s a rather sophistical distinction, a legal figleaf that allows the Fed to engage in de facto monetary financing, without it technically being such.

### REPLY:
Correct and that distinction is how Berdank was able to avoid perjuring himself before Congress several times... 
  
 But when you’re lending to the primary dealers at zirp, then turning around and buying the bonds that they’re buying...  It’s a money printing scheme 


### END.