Fed’s Holdings of U.S. Gov't Debt Hit Record $1,696,691,000,000

Discussion in 'Politics' started by Google, Jan 25, 2013.

  1. Google
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    As the debate over the debt ceiling begins anew, let us all remember that almost a quarter of all the unprecedented debt the US Treasury has issue since Obama's reign began has been purchased by the Federal Reserve--bought with fabricated money. China is not the largest holder of US debt, which is constantly incorrectly reported by our independent state-run media.

    Our government is being bankrolled essentially by our own central bank, which is the equivalent of the Treasury printing money to buy its own T-Bills. Simultaneously, prices across the board are rising, and apparently we are all supposed to believe there is no correlation.

    The FED is still operating under its mysterious emergency powers, which apparently will last indefinitely because our own elected representatives lack the power to regulate the FED's actions, and which grants it almost limitless power to interfere with the US economy.

    Now here's what really grinds my gears, the Federal Government is going to pay back that money, minus interest because it is not required to pay interest on those T-Bills purchased by the FED. That's right, the FED, which is not apart of the Federal Government, has fabricated $1,696,691,000,000 that my children and yours are going to be obligated to repay--and no one in the media is reporting on this.

    What would happen if the government simply says to the FED: burn that debt we aren't going to pay? Instantly, the debt is decreased by $1,696,691,000,000, and in its absence who is going to invest that amount in a US with a stagnant economy and a irresponsible federal government that hasn't even so much as passed a budget in five years?

    I have an honest question for my friends, and I use that word loosely, on the left: do any of you really believe that this is not going to have any negative impact on America's social safety net?

    Fed?s Holdings of U.S. Gov't Debt Hit Record $1,696,691,000,000; Up 257% Under Obama | CNS News

    Top Customer: Under Obama, Fed?s Holdings of U.S. Debt Have Jumped 452% | CNS News
     
    Last edited: Jan 25, 2013
  2. TheOldSchool
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    Does anyone else feel like the debt is some crazy imaginary number that can't possibly affect any of us? Suppose I moved to Canada. Will my share of the debt (hundreds of thousands) simply vanish? How does that work?
     
  3. Google
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    The debt is not owed per-say by individuals, but rather by our government, which derives its revenue by forcefully taking out money of the private sector through taxes, 'revenues'. But beyond that, and more importantly, you are paying for it even if you move to Canada because the purchasing power of the dollar is being diluted and prices are increasing.
     
  4. Dont Taz Me Bro
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    Dont Taz Me Bro USMB Mod Staff Member Gold Supporting Member Supporting Member

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    They don't care. They just want their free stuff.
     
  5. TheOldSchool
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    Maybe someone should start making the comparison between U.S. debt and global warming. A whole lot of people care about both and a whole lot of nothing is going to happen with either.
     

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