Quote:
Originally Posted by jblum315
Really doesn't matter because China is on its way to owning the USA
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Take a look around, things have changed...it's the "Federal Reserve" that is on it's way to "owning the USA". Using "credit" made up on a computer...they now "own" 2X what China does. The bankers of the Federal Reserve are "buying" (again all credit), about $90 BILLION of treasury bonds and mortgages from the other banks EVERY month. China doesn't buy as much or hold as much as they used to. Nobody is buying our debt like they used to. The Fed has become the main buyer...using CREDIT.
Now there's talk of the Fed canceling the debt...after they made over $100 billion in interest on "money" they created as credit on a computer. Ah, banking...quite the racket! Make up "money" as credit, and have people pay you in REAL money the interest they "owe" you...
What we have is a spending problem...