Greenbacks!
Forgive my naivete here, but I'm reading Web of Debt, and I have a question. The U.S. Government Treasury Dept., when it needs money, prints up $100 million of bonds that pay interest and takes those bonds to the Federal Reserve which is a cartel owned by banks.
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The FED then prints $100 Million dollars or creates $100 Million out of thin air, and credits the U.S Government's bank account. Our interest bill each year on the national debt is about $500 Billion. So here's my question. Why don't we just cut out the middleman and create the dollars ourselves interest free? We would sure save a lot of money!
Greenbacks Federal Reserve Mover Mike
Update:
Posted by movermike on
Friday September 28, 2007 at 11:38am
