Palestine: the things you don’t hear about

[Fort Fun Indiana]

A central bank that doesn't issue its own currency.

Looks that way. But it still does perform a function. But your gut feeling is noted and filed with the other gut feelings.

 

[P F Tinmore]

A state with no currency?

That's weird.

The US doesn't either.

Yeah that is weird.

 

[Toddsterpatriot]

The US doesn't either.

Yeah that is weird.

I've been using dollars.

That's not the US currency?

 

[P F Tinmore]

I've been using dollars.

That's not the US currency?

No it is not. This is a United states note.

It says United States Note on the top.

What does the money in your wallet say?

 

[Toddsterpatriot]

No it is not. This is a United states note.

It says United States Note on the top.

What does the money in your wallet say?

 

[P F Tinmore]

View attachment 669161

Indeed "Federal Reserve Note." It is borrowed from the Federal Reserve (a private bank) to be repaid with interest. That is our national debt.

 

[Toddsterpatriot]

Indeed "Federal Reserve Note." It is borrowed from the Federal Reserve (a private bank) to be repaid with interest. That is our national debt.

Indeed "Federal Reserve Note."

That means it's not US currency? Why not?

It is borrowed from the Federal Reserve (a private bank)

I didn't borrow it from the Federal Reserve (part of the US government).

to be repaid with interest.

I don't pay interest on my Federal Reserve notes. Do you? How much?

That is our national debt.

Our national debt is the Bills, Notes and Bonds the Treasury sells to finance government spending.

Not the cash in my wallet.

 

[P F Tinmore]

Indeed "Federal Reserve Note."

That means it's not US currency? Why not?

It is borrowed from the Federal Reserve (a private bank)

I didn't borrow it from the Federal Reserve (part of the US government).

to be repaid with interest.

I don't pay interest on my Federal Reserve notes. Do you? How much?

That is our national debt.

Our national debt is the Bills, Notes and Bonds the Treasury sells to finance government spending.

Not the cash in my wallet.

I don't pay interest on my Federal Reserve notes. Do you? How much?

It is paid by the government with your tax money. The government pays interest on that debt.

Net interest payments on the debt are estimated to total $393.5 billion this fiscal year, or 8.7% of all federal outlays. (The government projects it will pay out a total of $593.1 billion in interest in fiscal 2019, which ends Sept.Jul 24, 2019

 

[Toddsterpatriot]

It is paid by the government with your tax money. The government pays interest on that debt.

Net interest payments on the debt are estimated to total $393.5 billion this fiscal year, or 8.7% of all federal outlays. (The government projects it will pay out a total of $593.1 billion in interest in fiscal 2019, which ends Sept.Jul 24, 2019

It is paid by the government with your tax money.

The government pays interest for my FRNs? Why would they do that?

Net interest payments on the debt are estimated to total $393.5 billion this fiscal year,

That's awful! They pay interest on their debt. LOL!

What does that have to do with this....

...not being currency or supposedly being borrowed from the Fed?

Why does the US Treasury borrow paper money? What do they use it for?

 

[Fort Fun Indiana]

The government pays interest for my FRNs? Why would they do that?

One could argue that, yes. We don't just "print money", when we increase cash flow. We sell IOUs to the highest bidders. A fancy way of saying, we borrow. We pay interest to maintain that debt.

I think that is what he is getting at.

"On the good faith and credit of the United States"

 

[P F Tinmore]

It is paid by the government with your tax money.

The government pays interest for my FRNs? Why would they do that?

Net interest payments on the debt are estimated to total $393.5 billion this fiscal year,

That's awful! They pay interest on their debt. LOL!

What does that have to do with this....

View attachment 669170


...not being currency or supposedly being borrowed from the Fed?

Why does the US Treasury borrow paper money? What do they use it for?

US money says United States Note. Federal Reserve money says Federal Reserve Note. What part of that confuses you? All of the money in the US is borrowed from the Federal Reserve to be paid back with interest.

 

[Toddsterpatriot]

One could argue that, yes. We don't just "print money", when we increase cash flow. We sell IOUs to the highest bidders. A fancy way of saying, we borrow. We pay interest to maintain that debt.

I think that is what he is getting at.

"On the good faith and credit of the United States"

He thinks we pay interest on the Federal Reserve Notes we use.

 

[Toddsterpatriot]

US money says United States Note. Federal Reserve money says Federal Reserve Note. What part of that confuses you? All of the money in the US is borrowed from the Federal Reserve to be paid back with interest.

US money says United States Note. Federal Reserve money says Federal Reserve Note. What part of that confuses you?

None of that confuses me. You see where it says legal tender? Sounds like they're both money.

All of the money in the US is borrowed from the Federal Reserve to be paid back with interest.

Bullshit. The Fed's balance sheet is about $8.9 trillion. The money supply is much, much more than that. And I didn't borrow my FRNs from anybody, so who is paying interest on them? What rate are they paying? How does the Fed collect?

 

[P F Tinmore]

US money says United States Note. Federal Reserve money says Federal Reserve Note. What part of that confuses you?

None of that confuses me. You see where it says legal tender? Sounds like they're both money.

All of the money in the US is borrowed from the Federal Reserve to be paid back with interest.

Bullshit. The Fed's balance sheet is about $8.9 trillion. The money supply is much, much more than that. And I didn't borrow my FRNs from anybody, so who is paying interest on them? What rate are they paying? How does the Fed collect?

And I didn't borrow my FRNs from anybody, so who is paying interest on them? What rate are they paying? How does the Fed collect?

The income tax and the Federal Reserve started about the same time.

Coincidence?

The thing is that we have debt for no reason.

 

[Toddsterpatriot]

The income tax and the Federal Reserve started about the same time.

Coincidence?

The thing is that we have debt for no reason.

Yes, coincidence.

You never explained why the US Treasury would borrow Federal Reserve Notes.

We have debt because the government spends way too much.

Printing US Notes to fund that spending would be Biden-level stupidity.

 

[Fort Fun Indiana]

He thinks we pay interest on the Federal Reserve Notes we use.

In a roundabout way, we kind of do. But we use a progressive tax system to do it, so it's mostly the rich paying it.

 

[P F Tinmore]

Yes, coincidence.

You never explained why the US Treasury would borrow Federal Reserve Notes.

We have debt because the government spends way too much.

Printing US Notes to fund that spending would be Biden-level stupidity.

You never explained why the US Treasury would borrow Federal Reserve Notes.

Excellent question. The constitution give congress the authority to create money.

If the US makes its own money it is free and clear.

If it borrows it from the Fed it has to be paid back with interest.

So yes, that is an excellent question.

 

[Toddsterpatriot]

Excellent question. The constitution give congress the authority to create money.

If the US makes its own money it is free and clear.

If it borrows it from the Fed it has to be paid back with interest.

So yes, that is an excellent question.

The Treasury doesn't use Federal Reserve notes, why would they borrow them from the Fed?

 

[Toddsterpatriot]

In a roundabout way, we kind of do. But we use a progressive tax system to do it, so it's mostly the rich paying it.

In a roundabout way, we kind of do.

How?

 

[Fort Fun Indiana]

In a roundabout way, we kind of do.

How?

Refer back to my earlier post