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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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To: CodeToad
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.

Yes. As long as you ignore more than $4 trillion in bonds and the $100 billion in annual interest they earn, FRNs are backed by nothing. Don't forget to ignore the over $300 billion in gold as well.

18 posted on 03/19/2014 5:18:20 PM PDT by Toddsterpatriot (Science is hard. Harder if you're stupid.)
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