What exactly did I misstate?
Need a strawman to attack?
No, I'll just continue to attack your ignorance of the topic.
Look at your failure to recognize I stated it is a 'ponzi scheme' ...
A ponzi scheme pays old investors with the funds of new investors. The Fed doesn't have investors.
the federal reserve has no money
The Federal Reserve has a balance sheet of over $2 trillion.
the treasury has no money,
Yeah, the Congress spends too much.
but they create the ponzi of billions in a similar way you might write bad checks to your own bank account in another bank where you have no money, then write checks on the deposited rubber check.
The Federal Reserve doesn't need to kite checks.
Your penchant for misstating causes me to wonder why I even addressed you a second time. I'll know better in the future.
Yeah, lots of people I correct on FR run away. Wallow in your ignorance, you seem to be used to it.
Thanks for verifying the point I made. You have a nice night now, ya heauh. LOL