2.5 pts Question 19 What do we mean when we say that "crowding out" has occurred? The Fed has created new fiat money that has crowded out the old money that was backed by gold The Fed has bought so many Treasury securities in the open market operations that private investors who want to buy the bonds have been crowded out of the market because of the limited supply The Treasury has borrowed so much money in the markets that interest rates have risen very high and crowded out non-government borrowers. The Treasury has been crowded out of the bond market since no one wants to lend it money and the Fed has to buy all the bonds. Twitter tweets and the Kardashians crowd out rational thinking and reasoning activities, eroding communication skills and destroying the minds of young America - just what the 1% wants to happen