We’ll never know for sure until we audit the Fed.
One thing I DO know- and that is this: If the people of this nation ever truly, internally, viscerally realized what has been done to them in terms of the federal debt, there would be severe shortages of tar, feathers, stout rope, lamp posts and politicians.
That graphic is the closest representation I’ve seen of the Total Perspective Vortex (Financial Edition). It needs a sign on top of it with 30 foot tall letters written in fire that says, “YOU OWE THIS MUCH!”.
“5. When trading partners sell more stuff to the US than the US sells to them, the difference creates a balance of payments deficit. The USA needs to either borrow through a line of credit or buy the country's home currency from someone else at LIBOR exchange rates with US dollars. The largest creditor of the US Government is the FED who holds over $6 trillion of US debt in its account. The second largest creditor is Communist China with about $900 billion. Altogether, the United States owes obout 60 percent of the total debt of all other debtor nations combined.”
In short we must pay for what we consume with our production or borrow the difference. Exports pay for our imports or borrowed money does.
It is not a difficult concept but it is absolutely true and unchangeable. It is one reason why the U.S. is slowly slipping into impoverishment.
It really doesn't matter who wins in November, the damage is done.
My comment remains, MOOTA is the only weapon which can and will destroy USA. This isn’t even discussed by DemoPublicans because it isn’t known or they support the endless supply of MOOTA. Just like many here on FR?
Money Out Of Thin Air