Quote:
|
Originally Posted by alpha phi
You are partly correct
As I understand it...
The Debt is owed to the Federal Reserve Bank (the Fed)
|
Only 40% or so of the debt is owned to the fed. The rest is owed to foreign investors, banks, insurance companies, and others.
Quote:
|
The Fed is a private non goverment organization (a bank)
|
No, it is a government organization. Its 7 member board of directors is appointed by the president, and confirmed by the senate, to 14 year terms.
Quote:
|
The US Goverment does not print money, the fed does.
|
the fed IS part of the US government, and it does not print money. The US Bureau of Engraving and Printing prints the money. The US Mint makes the coins. Both are part of the Treasury department.