Re: Cheney's Halliburton to Control Iraqi Oil?

Andreas Pour wrote:

> Do you realize that the privately-held Federal Reserve system holds 40% of all
> US treasury securities, and that it simply creates the money out of nothing to
> purchase them?  But the interest it "earns" on that money belongs to these
> private holders of stock in the Federal Reserve?  Nice scam if you can get it,
> really nice: create money out of nothing and at no risk to myself and earn
> hundreds of billions in interest on it.  In fact nothing prevents the Federal
> Reserve from buying all US securities and Freddy Macs and Fannie Maes and
> whatever, since their supply of money is unlimited - they simply create it for
> free (or, in the worst case, pay the Treasury Department $0.20 per $100 bill,
> but at 0.2% the interest pays that back quite quickly).

I knew it, you have no understanding of economics.

That is what the Federal Reserve system is suppose to do, regulate the 
money supply.  But, they do not create money out of nothing, they 
create money by swapping debt for debt.  If you don't understand what 
that means, may I recommend freshman (college) economics 101.

--
JRT


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