you are viewing a single comment's thread.
yep just what I was thinking...only the paper and coins that have a cost.
Since electronic money is cost free, Ben can create unlimited amounts of it. Need $1 trillion for currency SWAP with ECB? Just tell ECB to add some zeros directly into ECB USD electronic account. Don't even need to wire it. Just make a book entry and charge the 6% money creation fee to the American people's government. Creating money makes the Fed rich.Someday, the ECB will stop asking permission and just add the zeros whenever they want more USD. It's just too easy!
This is how you look at it.. their debt is not guaranteed that's why China keep asking US .. you're man of your word right .. you will pay me back my $trillionsIf suddenly nobody buys USD, they can't create the $trillion by using their long term ponzi scheme method of paying their debtors.They might go into electronic fraud .. but still there's paper document to prove it .. the US gov't doesn't allow anyone to audit the FED .. so you have no idea what the FED is doing (fraud again)the scariest part is that US might decides to invade other countries, when you're poor .. you steal