atlarge's Comments (2)

“OK..... So, this is a fact. We're all sitting around complaining and whining about it; but, what's to be done about it? What would happen if we backed our currency once again? Perhaps using a "basket" approach with a select number of commodities, such as gold, aluminum, industrial diamonds whose average spot price for an ounce would be the value of a dollar? Could this approach be an alternative to either silver or gold, the former of which is reported to be in dwindling supply?”

“Steve makes the following comment: "Detroit will apparently borrow the money directly from the US government (as in, "us") and that will allow them to repay the debt at the lowest possible interest rates (which is just one more reason it's always nice to "have a friend" in the government; they're the ones who actually print the money).".

However, the government does not print the money. The Federal Reserve both makes monetary policy and prints the money; and, the Federal Reserve is not part of the government, it is private enterprise. Moreover, Bush's grandfather was part of the bunch that founded it.

There is an interesting twist on Kennedy's assassination that suggests it was the bankers who were responsible. Kennedy told the FR that it could not both print the money and make policy; and, he authorized the government's printing of the US notes, which supplanted the Federal Reserve Notes for two years until Kennedy's death, at which time the Federal Reserve notes came back into play.”