joewp
Member
- Jan 25, 2013
- 178
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Doesn't matter. The point is the national currency shouldn't be brought into being as debt with interest when it doesn't have to be.
When banks buy currency from the Fed, the Fed reduces the balance in their account at the Fed. No debt involved. No interest involved.
When I buy currency from my bank, the same thing happens. No debt and no interest.
Sorry, I missed these posts.
However, concentrating on currency is misleading. Currency is only about 3-5% of the money supply. Not to mention that currency (in our money system) only represents what the Federal Reserve owes you. And wouldn't you know it, the value of that currency is constantly being debased by the Fed issuing more and more bank debt.