- Aug 10, 2009
- 168,037
- 16,519
- 2,165
- Banned
- #241
kwc57, you need to answer the questions instead of giving simple blow off answers, because you seem to be getting your butt royally kicked.
And, Neubarf? You caught my attention on your previous post about a protectionist sphere and buying and dismissing Chinese holdings of our bonds. Please explain that more in detail. PM me if you wish.
The Federal Reserve has the capacity to make money electronically out of thin air. Since the US government created the FED, we can also ask them to make Debt disappear into thin air. If the Board of the Fed agrees, the debt can be dismissed. We will do that after we fund Social Security for the next twenty years. Remember we do not really pay the Fed interest on the Bonds that they buy. We technically do but they take most of that interest and put it in the treasury after some operating cost deductions. In the future we will just have them burn the bonds. Now, I know that people will say that the Fed is too greedy to do that. If I were president, they'd do it in an instant as soon as I snapped my fingers. We will see who is President when it is asked for.
Thank you very much. I am going to think about this for awhile.