top | item 18198746

(no title)

justsayinstuff | 7 years ago

Maybe I misunderstand something here, but the debt is of the US govt to the Fed. Rising interest that the Fed collects is the Fed's not the US govt's... That's like asking Citibank to allocate the interest it collected on me to my credit card balance...

discuss

order

jahewson|7 years ago

No, the debt I’m talking about is the Fed’s own. They leant fictitious money to themselves (quantitive easing). It’s included in the public debt, but it’s not a literal debt of the U.S. government, which a is separate, massive debt.