As I understand it, the Federal Reserve is not a taxing agency. Ergo, where does their money come from? Just days ago, The Fed announced that they had to date purchased Three Trillion dollars worth of T-Bills and would be continuing that practice for the foreseeable future.
The fed announces to the Treasury Department, that they were buying a billion dollars i treasury notes. (Bonds) The treasury then puts the money to use, running the government and it's reckless spending.
One thing wrong with this scenario though. The treasury doesn't have three trillion dollars or even one billion dollars. They euphemistically printed it via their computer. (Sure wish my computer could do that.)
The bottom line is that we have been flim-flamed into a three trillion debt. We the public. If you borrow money so that you can pay another debt off in such a way that misrepresents the end result, you are running a Ponzi Scheme.
Are we so uninformed or uncaring that we are not outraged? You are being stolen from ... By our own government. For the record our folks in Washington, D.C. should stop talking negatively about tyrants in other countries that are corrupt. We have our own right here.
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