Likely true, on both counts.
However, do we borrow 'money' from the FRB , do we have a large outstanding balance, and do we pay interest and have an outstanding balance on it?
It sounds like you are familiar with the intricate weavings of the paper money system, but it still boils down to the fact that we have to borrow money as a nation, and that we pay interest on it. The interest is income to globalists, and the 'amount' loaned is an investment.
“However, do we borrow ‘money’ from the FRB , do we have a large outstanding balance, and do we pay interest and have an outstanding balance on it?”
No, we borrow nothing from the FRB. The only interest the FRB receives is from their holdings of Treasury paper, the same as anyone else that owns T-bills; but in the Fed’s case they have to turn over the majority of the interest that they receive to the Treasury, they only get to keep enough to cover expenses. Their T-bill holdings aren’t for investment purposes, it is a tool that the Fed uses to adjust the money supply, determining how much of the money in the banking system will be high powered money and how much will be tied up in illiquid paper.
People get led to believe that we are somehow paying interest on the money we use, and since that money is in the form of Federal Reserve Notes that the Fed must be receiving this interest. This is a confused idea based upon the fact that the Fed monetizes debt when it creates high-powered money in the banking system; it creates dollar credits to exchange for debt held by banks. But this system operated when we still had the gold standard and Silver Certificates circulated, there is no special significance to FRNs being the current national currency.
The only interest that you pay in any conceivable way related to the monetary system is interest on the national debt; that debt is in the form of Treasury paper: T-bills, savings bonds and so forth. And you are obligated to pay that interest because of Congress, not the Fed. Congress authorizes the national debt. And every time Congress raises the debt ceiling they are obligating you to pay interest on more and more debt.
” The interest is income to globalists, and the ‘amount’ loaned is an investment.”
It’s hardly only globalists. Treasury interest payments are income to anyone owning Treasury paper. Major holders of Treasury paper include insurance companies, pension funds, retail banks, mutual funds, investment houses, corporations. You probably are the indirect owner of far more of this debt than you know. But as for the total amount of this debt, only Congress has the power to do something about it.