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To: sausageseller

It’s not a belief, it’s a fact.

The Dollars that create our wealth come into existence in a very special way. They are literally created out of thin air by an agreement between the Treasury (Government component) and the Federal Reserve (Quasi-government / Private component). In exchange for an IOU (completely made up) that the Fed “buys” from the Treasury, the Fed prints money for release into circulation to create our Nation’s wealth.

One Dollar owed to the Federal Reserve (our Nation’s “debt”) = One Dollar printed and entered into circulation as “wealth”. Get rid of the debt and you get rid of the wealth.


35 posted on 09/02/2009 6:56:47 PM PDT by cliniclinical (space for rent)
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To: cliniclinical

“The Dollars that create our wealth come into existence in a very special way. ....Get rid of the debt and you get rid of the wealth.”

I’m not an economic expert - but what is barter if not an exchange of “wealth” outside government debt? If so, then in a sense a nation’s “wealth” exists outside of the government’s debt.


42 posted on 09/02/2009 7:34:51 PM PDT by loungeSerf (Truth-In-Legislation Amendment)
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To: cliniclinical
Not "fact" because "wealth" by definition is not strictly money it is also property owned. Thus the idea that dollars create our wealth is factually incorrect.

Just as third worlds countries print tremendous amounts of money it does not make them more wealthy.

53 posted on 09/03/2009 4:32:35 AM PDT by sausageseller (http://coolblue.typepad.com/the_cool_blue_blog/)
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