To: CodeToad
It's true, the FRNs are backed by trillions in bonds. Bonds paying nearly $100 billion a year in interest. Not too shabby compared to your original claim.
14 posted on
03/19/2014 4:26:56 PM PDT by
Toddsterpatriot
(Science is hard. Harder if you're stupid.)
To: Toddsterpatriot
“Bonds paying nearly $100 billion a year in interest. Not too shabby compared to your original claim. “
My original claim sands. FRNs are backed by nothing but more FRNs. They are backed by nothing.
17 posted on
03/19/2014 5:03:45 PM PDT by
CodeToad
(Keeping whites from talking about blacks is verbal segregation!)
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