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Is the Fed in charge of credit card inssued digital debt?

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Gold Smile [:)] Posted: Wed, Jan 13 2010 6:12 AM

Does the digital money debt expansion happen as a part of the Fed's money out of debt system (meaning the Fed is in charge of the credit created by the credit card companies), or the credit companies completely independent from the Fed and are to blame for expanding the money supply digitally privately on their own? If anybody could help me to understand the subject i would really appreciate. Thank you!

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scineram replied on Wed, Jan 13 2010 8:17 AM

No. You are to blame. And all the other credit card users.

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sthomper replied on Wed, Jan 13 2010 11:36 AM

No. You are to blame. And all the other credit card users.

this poster is often full of crap and not much has changed.

 

do the cc companies somehew get credit form existing banks to put towards revolving accounts..i thought most credit cards wer bank issued and used visa as a transaction processor?

 

i dont know for sure.

 

 

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