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<p>[QUOTE=&quot;Urban_Lawyer, post: 1526931, member: 36361&quot;]I&#039;m not sure what you mean, but the Federal Reserve Act was amended in the 50s to remove the requirement that the notes be backed with &quot;assets,&quot; and substituted the word &quot;collateral.&quot;&nbsp; I imagine that had something to do with debt as property, versus requiring the federal reserve the hold real estate, etc. but I am not familiar with general accounting principles and why debt (as an account receivable) cannot be &quot;assets&quot; for purposes of currency.</p><p><br /></p><p>I assume the federal reserve could invest in real estate and back the money with that, but why bother?&nbsp; Debt is more liquid.[/QUOTE]</p><p><br /></p>

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