the ny fed's quantitative easing (qe) counterfeiting scheme: nyfed buys treasuries (and mbss) outright from (only) nyfed primary dealers by creating reserves out of thin air, which seditiously undermines congress sole power to regulate our currency. this is qe. ny feds primary dealers then take those reserves and earn interest on excess reserves aka ioer (now called iorb) on them at the nyfed, interest which is paid in cash to the primary dealers--cash, which they do make interest on, this is their counterfeiting scheme (also, every penny paid in interest (cash) to the primary dealers for excess reserves also reduces the feds remittance to the us treasury). the nyfed used qe to bail themselves out during the financial collapse of 2008 and is how its primary dealers have been effectively counterfeiting our currency ever since.
United States