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How did the government pay for the war efforts?
The government raised taxes higher and borrowed money from banks and others to get the rest.
Why is the federal government responsible for money and banking?
If the federal government wasn't in charge it would be a mess. That would mean there would 50 different kinds money and no rules on banks. It falls to the federal government to make sure the money is good for the United States and overseas.
Is a government monopoly one that is created by the government for the sole reason of making money for government use?
No. A government monopoly refers to a situation in which the government owns all the outlets for a particular good or service.
Who created market economy?
government and people created market economy . Because government decide the market price . But sometimes people make their own market prices to get more money.
What did Congress pass in 1862 that created a national currency and allowed the government to issue paper money?
legal tender act
What choices made by Roosevelt improved the banking situation?
Roosevelt created different programs that created a checks and balance system in banks and tied the money in the banks to the federal government.
In order to distribute money does the government sell money to the banks?
No, the Government does not sell money to the banks. Instead they loan it to them at very low interest rates. The banks borrow money from the central bank a.k.a the government to use for their operations and repay the money along with the interest to them.
Do banks report money transactions to the government?
yes
What was created to protect your money in banks?
The FDIC
Can a single bank create money?
Banks do not create money. They store it. The government prints money.
How bank create money?
Money is CREATED by governments, not banks. They store money. Banks also EARN money by loaning money to people. People pay the banks back more money than they borrow (interest)
Who borrows money from federal reserve banks?
All member banks of the Federal Reserve in USA can and do borrow money from the federal reserve. The Federal Reserve is the banker of banks to whom the banks go when they need money.
Do countries borrow money from private banks?
Yes private banks print money out of thin air and then lend it to the Government WITH interest The US dollar, Canadian Dollar and the Euro are some of the trash money printed by private banks, and most of your income tax goes to the private banks NOT government services. its the biggest scam in history.
How does Peru get its money?
The Peruvian government prints it and Peruvian banks distribute it.
When does the quantity of money available increase?
when government "prints" it, or when banks loan it.
Do banks throw away money?
Banks collect old or damaged bills and send them to the US government for destruction.
Why did you choose government bank not pvt bank?
I don't really distinguish between government or private banks but most people in india do. People feel that government banks, since they are owned by the government are safer and that the money they deposit is 100% safe. That is the reason why they prefer government banks.
