The federal reserve loans money to the US government with interest, the government does not print it itself. So with this logic in mind the government will eventually need to loan more money to pay its debts which in turn will cause even more debt from the interest of those loans or the U.S. Treasury will sells bonds and other types of securities to citizens (with interest) so the debt is passed onto us instead. When Hitler came into power the German government issued Labor Treasury Certificates which were backed by the productivity and economic output of Germanys labor force removing the middle man, privately owned banks.They were almost identical to Abraham Lincolns greenbacks or Gaddafis gold-money plan. Ironically the central bank of Japan was also going to use a gold standard just before Hiroshima.
Posted on: Tue, 06 Jan 2015 02:04:12 +0000
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