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<p>[QUOTE=&quot;19Lyds, post: 1606864, member: 15929&quot;]Ha ha!</p><p><br /></p><p>&quot;Creating money out of thin air is hardly a solution.&quot;</p><p><br /></p><p>What is it that the author think the US Mint does if not &quot;create money out of thin air&quot;?</p><p><br /></p><p>As for the actual column, the author is simply showing his ignorance.</p><p><br /></p><p>The debt ceiling is a fictional line as the Federal Reserve Bank ( a private bank with only one customer ) would be more than happy to lend the United States of America another 16 trillion dollars if Congress would approve it. And therein lies the problem. All those Congress People running around like lost children trying to save their careers but hesitating on raising the debt ceiling which would allow congress to borrow more money.</p><p><br /></p><p>EVERY asset the USA has, is the result of borrowing money from the Federal Reserve Bank as there is no Gold Standard, nor Silver Standard nor ANYTHING that backs the Federal Reserve notes we use on a daily basis. Nara! Nothing!</p><p><br /></p><p>Should the government decide to be a bunch of smart alecs and mint up a 16 or so &quot;trillion dollar&quot; platinum coins and then attempt to pay off its debt to the Federal Reserve Bank with them, the Federal Reserve Bank would simply raise interest rates and call in its obligations which in effect would bankrupt the country on the World Market.</p><p><br /></p><p>efferson was against borrowing money to run the country as have been many, many presidents in the past. Unfortunately, our people have been so &quot;dumbed down&quot; to reality that even the current flock of Congress people just don&#039;t have a clue as to where our money really comes from. </p><p><br /></p><p>The result is that we are so far into debt, we&#039;ll never get out of debt regardless of who does what.[/QUOTE]</p><p><br /></p>

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