American Majority Rejects Washington Austerity Consensus -- And Demands to Be Heard

[OohPooPahDoo]

Congress was voted in to cut the spending.

Says who?

You enjoy the high gas prices? The high food prices? The inflation being caused by the deficit spending?

LOL! I bought a color printer/scanner/copier last week for $80 and a 5000 BTU window AC unit yesterday for $99. How much less would those items have cost 5 years ago?

I know that's only part of what I spend money on, but if you are allowed to pick just two items to use as your inflation index, so can I!

 

[P F Tinmore]

Yeah yeah yeah. And they shot him too.

Well, that part is still up in the air.

Look at any bill in your wallet. It says "Federal Reserve Note." The one I posted says "United States Note." What do you believe is the difference?

One says "United States Note" and the other says "Federal Reserve Note".

Geesh... kinda obvious huh?

The important difference is that the Federal Reserve Note is owed back to the Fed with interest. The United States note does not have to be paid back and there is no interest.

This saves a huge expense.

 

[OohPooPahDoo]

The important difference is that the Federal Reserve Note is owed back to the Fed with interest.

Incorrect. You may keep your federal reserve notes as long as you like, interest free.

 

[P F Tinmore]

The important difference is that the Federal Reserve Note is owed back to the Fed with interest.

Incorrect. You may keep your federal reserve notes as long as you like, interest free.

The government owes it to the Fed with interest. You pay the interest only it is called taxes.

 

[OohPooPahDoo]

The important difference is that the Federal Reserve Note is owed back to the Fed with interest.

Incorrect. You may keep your federal reserve notes as long as you like, interest free.

The government owes it to the Fed with interest. You pay the interest only it is called taxes.

All profits of the federal reserve are rebated to the treasury each year. So you're wrong. The government actually pays zero interest on the treasury obligations owned by the fed.

No to mention the obvious fact that a federal reserve note in my possession has nothing to do with the treasury owing the fed money.

 

[OohPooPahDoo]

The important difference is that the Federal Reserve Note is owed back to the Fed with interest.

You can keep your FRN as long as you like, no one owes it back to the fed. In fact, technically, its a claim to the assets of the fed.