Quote:
Originally Posted by dyna mo
that's fine.
that's your opinion. as i've mentioned previously, i see it another way and am posting that. besides, that's not the key point i've made in this thread, it is tangential.
the major point it ron paul advocating using the fed this way.
question, what will happen with the fed's ledger sheet to balance wiping this debt off the books? you do know there was a corresponding equal amount of dollars printing to back up this debt?
so the ledger sheet won't add up, you will have 1.5 trillion PRINTED dollars with no debt backing it up. how will that work?
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Answer, the fed does not keep books or a ledger. If it did, money made from the feds money (which is all money), from gov to corps to you, which is a hell of a lot more than 14 trillion, would all go back up the accounting chain, and easily whip the debt clean, as income back into the overall system.
But that's how a normal corp works, and the fed is not a normal corp.
Printing money, does not mean the machine is actually stamping money. When they give a bank 10 million, they don't print and ship them 10 million dollars. They get some cash, the majority is digital.
Money does not need a debt backing it, ever... it should not create debt to print our own money. Once the money is given to a bank and then to a person/corp, interest is understandable. Up to the point, it's fraud!