My, I’ce no idea how that completely slipped my mind.
Or Obama could have them tear up our debt they already own and accomplish the same thing legally.
It’s a fantasy financial world.
Right now he couldn't, legally anyway.
The Fed is required by law to have "backing" for the "notes" (They're not really notes anymore, but that's another issue.) they issue. (Issue is a nice word for print.) The backing started out being gold and securities, but Treasury Paper was forbidden by law. Now Treasury Paper is virtually all they have for backing. This is a joke of course, but it is a legal joke.
ML/NJ