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bossy22

(3,547 posts)

4. it would also force the federal reserve to become insolvent

Reply to jakeXT (Reply #2)

Fri Feb 7, 2014, 10:59 PM

Feb 2014

It's liabilities would then far exceed it's assets. The fed's ability to control the money supply would be destroyed overnight. The article down plays how much treasuries are used to control the money supply- at this moment they are the main asset backing up the u.s. money supply.

It is by far a terrible idea. I'm quite surprised it is coming out of alan grayson's mouth. He has gone down significantly in my book for these ideas.

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Highlight:

Treasury pulls back as U.S. hits debt limit again [View all] jakeXT Feb 2014 OP

If Men from Mars are watching I wonder what they're saying. C0RYH0FFMAN Feb 2014 #1

Reminds again of the Grayson idea jakeXT Feb 2014 #2

it would also force the federal reserve to become insolvent bossy22 Feb 2014 #4

The saying goes like this: "the dollar is our currency, but your problem." jakeXT Feb 2014 #6

What's with the zeros in your name? eggplant Feb 2014 #3

I wonder if clouds ever look down on us and say... progree Feb 2014 #5

is the whole purpose of debt/budget fighting to enable certain players to short stocks Herself Feb 2014 #7