November 03, 2010
– Comments (5)
Anybody have any idea why we owe the FED 50% more money than we owe China?
Where did the FED get to money to loans us in the first place?
Do you have any clue how the Federal Reserve works?
No, could you please explain it to me......
Here's an intro Wikipedia article to get started on http://en.wikipedia.org/wiki/Federal_Reserve
Here's the Fed's open market operations page http://www.federalreserve.gov/monetarypolicy/openmarket.htm
Here's the page where you can order The Federal Reserve System: Purposes And Functions. http://www.federalreserve.gov/pubs/general.htm
Finally, any modern textbook on money and banking will have several chapters on the Fed and its history and functions.
I get that stuff silly goose........
My question goes to the following:
Every bilateral executory contract requires valuable consideration to be exchanged in order for the contact to be valid.
The FED is a privately owned institution that the citizens of America now owe what is rapidly approaching $3 Trillion dollars.
Enforcement of many of those loans is kicking out millions of families out of their homes.....
Could you please identify what consideration the FED exchanged in order to obtain $3 Trillion dollars of American debt?
We and our children now owe this money to this private organization...I am just trying to figure out how this legally happened....
Ha! You've finally slipped and revealed yourself: You're Big Gay Al from Southpark!
(by the way, interesting question that you pose here: just what is the ultimate asset that created the dollars with which the FED bought the T-Bills? Damned if I know)