Overdate ✭✭✭✭✭

The only person saying otherwise is you. The mechanics of the Fed's open market operations are irrelevant to this discussion. Either FRNs are obligations (liabilities) of the Fed, or they aren't. If … (View Post)

> Then let me return the favor and fix it for you. Printing bonds = printing interest-bearing securities, with taxpayers on the hook to pay that interest. Printing money = printing official medium… (View Post)

In late 1979 and early 1980, people were lined up to sell silver coins to dealers, often at 15-20% back of melt. I was one of them. At the time I heard credible reports that bags of Morgan/Peace doll… (View Post)

If US Notes are basically the same as Federal Reserve Notes, please explain how unbacked US Notes would lead to a $36.000,000,000,000 national debt requiring annual interest payments of $1,000,000,00… (View Post)

> Unbacked money is simply paper money (or its electronic equivalent) that is issued directly by a government, without a corresponding issue of bonds to a central bank to "back" this mon… (View Post)