What is the central bank doing? @zraporucom 

While the Fed, the central bank of the USA, was established in 1913, interestingly, the first bank in the USA was established in 1791. That is, for about 120 years before the central bank was established, the United States could print money, lend and collect deposits. If banks were able to print money, what happened to the need for central banks? @zraporucom