- Dec 6, 2009
- 77,738
- 4,170
- 1,815
People are always wringing their hands about the debt. We can eliminate the debt at very little cost. All of our money is owed to the Federal Reserve to be repaid with interest.
The constitution gives congress the authority to create our own money. There is no interest, and it does not have to be repaid.
When a bank receives Federal Reserve Notes it sends them to the Treasury. The Treasury "repays" them to the Federal Reserve and replaces them to the bank with US Notes at little cost.
The debt will go away.
The constitution gives congress the authority to create our own money. There is no interest, and it does not have to be repaid.
When a bank receives Federal Reserve Notes it sends them to the Treasury. The Treasury "repays" them to the Federal Reserve and replaces them to the bank with US Notes at little cost.
The debt will go away.