Why does America borrow dollars that we print?

[AHZ]

New ones are never created?
Old ones are never destroyed?

blooppity boopty doo?

 

[Toddsterpatriot]

Borrow it from whom?...Who has the collateral being borrowed against?

Borrow it from anyone who purchases a T-Bill, T-Note or T-Bond.

 

[Toddsterpatriot]

Ahhhh!...The ole "full faith and credit" ring-around-the-rosey horsehit!!

What, in the name of Sam Hill, does that mean?...Where is the physical collateral, that a bank would demand from you and me, if we "borrowed"?

Sorry that you don't understand the meaning of the term. Don't like it, don't buy Treasury securities.

 

[Oddball]

Sorry that you don't understand the meaning of the term. Don't like it, don't buy Treasury securities.

I want a concrete definition of vague terms.

The "money" in my pocket is the result of those "securities" and that alleged "full faith and credit"...Time to put some meat on the bone, or admit that it's the total scam that we all know it to be.

 

[Oddball]

Borrow it from anyone who purchases a T-Bill, T-Note or T-Bond.

Not an answer....Where is the physical collateral asset?

 

[Oddball]

"Full faith and credit" = We will tax the hoi polloi out of their homes and inflate their currency to complete worthlessness, to make sure that you get repaid for the "money" it costs you nothing to create.

 

[sparky]

Where is the physical collateral asset?

If i'm reading this right, perhaps the term "US mint depository reserves" applies ???

~S~

 

[westwall]

Borrow it from anyone who purchases a T-Bill, T-Note or T-Bond.

And pay interest on it. Kind of like how casinos make money.

97% payback they say....so, everytime you play, you lose 3%. Better have a fat roll of cash to be able to keep that up.

 

[Oddball]

If i'm reading this right, perhaps the term "US mint depository reserves" applies ???

~S~

What "reserves"?...Where is the physical collateral asset of value being lent against?

Spoiler alert: There isn't one.

 

[Toddsterpatriot]

Not an answer....Where is the physical collateral asset?

Asset for what?

 

[Toddsterpatriot]

"Full faith and credit" = We will tax the hoi polloi out of their homes and inflate their currency to complete worthlessness, to make sure that you get repaid for the "money" it costs you nothing to create.

The federal government spends trillions too much.
What does that have to do with the Fed?

 

[Toddsterpatriot]

And pay interest on it. Kind of like how casinos make money.

97% payback they say....so, everytime you play, you lose 3%. Better have a fat roll of cash to be able to keep that up.

Yes, the government pays interest on money they borrow.
They should borrow much less, spend much less.

 

[Toddsterpatriot]

What "reserves"?...Where is the physical collateral asset of value being lent against?

Spoiler alert: There isn't one.

Are you under the impression that every loan is based on collateral?

 

[Oddball]

The federal government spends trillions too much.
What does that have to do with the Fed?

Not relevant to anything....Where am I wrong?

 

[Oddball]

The federal government spends trillions too much.
What does that have to do with the Fed?

Where is gubmint getting the "money"?

 

[Oddball]

And pay interest on it. Kind of like how casinos make money.

97% payback they say....so, everytime you play, you lose 3%. Better have a fat roll of cash to be able to keep that up.

Casino rakes are more honest.

 

[Toddsterpatriot]

Not relevant to anything....Where am I wrong?

Your complaint about government overspending has nothing to do with the Fed.

 

[Toddsterpatriot]

Where is gubmint getting the "money"?

Taxation and borrowing.

 

[Oddball]

Your complaint about government overspending has nothing to do with the Fed.

ORLY?...Where does gubmint get the loot to go $30+ trillion in debt?

And don't insult my intelligence saying that the Fed hasn't been monetizing this shit.

 

[sparky]

What "reserves"?...Where is the physical collateral asset of value being lent against?

Spoiler alert: There isn't one.

yes , i was workin' my way there Odd one

albeit some rather sketchy info is all i seem to have found....

Inspection of Gold at Fort Knox | U.S. Mint

September 20, 1974: The inspection by Members of Congress on September 23, 1974, of U.S. gold stocks stored at the Fort Knox Bullion Depository marks a unique departure from the long standing and rigidly enforced policy of absolutely no visitors.

www.usmint.gov

~S~