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<p>[QUOTE=&quot;Cloudsweeper99, post: 1209809, member: 3011&quot;]My point was that use of USNs would save money because no interest or principal payments would be required for holders of the debt other than the Fed.&nbsp; I don&#039;t disagree that a good portion of the money collected by the Fed is returned to the Treasury.&nbsp; I haven&#039;t checked, but I&#039;ll bet they manage to spend most of what they collect on generous employee salaries, bonuses and first class airfare.</p><p><br /></p><p>I&#039;ve got bad news for you on the spending cuts and other checks on overspending.&nbsp; If the federal government managed to cut spending and begin paying down the debt, the nation would be plunged into a deep depression.&nbsp; You see, when the money is the debt and the debt is the money, any reduction in debt has the same impact as reducing the money supply.&nbsp; Clinton more or less proved this when he came close to balancing the budget for one year.&nbsp; The nation quickly plunged into recession.&nbsp; And when the Fed decreased the money supply in 1930, they took a fairly ordinary recession and turned it into the Great Depression.&nbsp; So debt reduction is 0 for 2.&nbsp; The debt can never be reduced unless a new currency like the USN is introduced.&nbsp; Whenever I see a politician talk about balancing the budget and reducing the debt without eliminating the Federal Reserve, I instantly know that the guy is either being intentionally deceptive or just doesn&#039;t understand our monetary system.&nbsp; But you can bet the international bankers do.[/QUOTE]</p><p><br /></p>

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