The post studies how the Fed is involved in fiscal operations and how the U.S. Treasury is involved in monetary-policy operations. The extensive interaction between these two branches of the U.S. government is necessary for fiscal and monetary policies to work properly.
In the end, it is not the rage of our critics that we have to concern ourselves with. It is the silence of our friends that allow this anti-intellectualism to destroy people who have fought round the clock to bring these truths to life.
The core of the financial system consists of financial documents and among them are balance sheets. As Hyman P. Minsky used to note, if you cannot put your reasoning in terms of a balance sheet there is a problem in your logic.