08-03-2011, 07:42 AM
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The People's Post
Industry Role:
Join Date: Dec 2008
Location: invisible 7-11
Posts: 64,340
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Quote:
Originally Posted by TheDoc
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!
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mmm. sorry, but this is incorrect. see above. perhaps i misused the term *backing up* but for every dollar the fed prints, there is a corresponding dollar of debt issued.
& vice versa |
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