End the Federal Reserve and have them cancel the $4.5 Trillion they are holding.
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PING!!! Give that person a PRIZE! You got it....
Just wondering what all you guys would do for "money" (currency really).
Almost all my "dollars" have their origin in US Government I Owe Me's. The Treasury prints some notes or bills (bonds really) and the Federal Reserve prints some notes; and they exchange them; and both think they are rich! The Treasury spends the FRNs which eventually make their way to me; and the FED thinks it's loaded with assets. (P.T.Barnum would laugh his @$$ off at this!)
Whenever the Treasury "pays off" the debt that the Federal Reserve holds, all that "money" disappears, because they no longer hold the so-called "backing" (which was originally, between 1913 and 1933, GOLD). I believe the FED has also in the last few years "purchased" Corporate debt but this is relatively recent, and scary.
ML/NJ