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Thursday, February 11, 2010

The Act, Part III

>>"The US government is the monopoly issuer of the currency"

Really? According to your understanding of the monetary system, on which side of the loans that create our money supply is the US government on?

Is the US government

the debtor
the creditor
or both?

If your answer is 'debtor', please explain how the US ended up paying interest on money that you claim it issues.

If your answer is 'creditor', then please explain how the US ended up with a 12 trillion dollar debt by issuing its own money.

If your answer is 'both', then I'll look forward to an amazing explanation for that.

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