Thanks for the CRACK Mr. Warburg!

The banking cartel holds a monopoly in the manufacture of money. Consequently, money is created only when IOUs are "monetized" by the Fed or by commercial banks. When private individuals, corporations, or institutions purchase government bonds, they must use money they have previously earned and saved. In other words, no new money is created, because they are using funds that are already in existence. Therefore, the sale of government bonds to the private sector, it is not. That is the primary reason the United States avoided massive inflation during the 1980s when the federal government was going into debt at a greater rate than ever before in its history. By keeping interest rates high, these bonds became attractive to private investors, including those in other countries. Very little new money was created, because most of the bonds were purchased with American dollars already in existence. This, of course, was a temporary fix at best. Today, those bonds are continually maturing and are being replaced by still more bonds to include the original debt plus accumulated interest. Eventually, this process must come to an end, when it does, the Fed will have no choice but to literally buy back all the debt of the 1980s--that is, to replace all of the formerly invested private money with newly manufactured fiat money--plus a great deal more to cover the interest. Then we will understand the meaning of inflation. From the Creature of Jekyll Island G. Edward Griffen (American Media) pg 201


The biggest doomsday mechanism of all, however, is the Federal Reserve System. It will be recalled that every cent of our money supply--including coins, currency, and checkbook money--came into being for the purpose of being lent to someone. All of those dollars will disappear when the loans are paid back. They will exist only so long as the debt behind them exists. Underneath the pyramid of money, supporting the entire structure, are the so-called reserves which represent the Fed's monetization of debt. If we tried to pay off the national debt, those reserves would also start to disappear, and our money supply would be undermined. The Federal Reserve would have to scramble into the money markets of the world and replace U.S. securities with bonds from corporations and other countries. Technically, that can be done, but the transition could be devastating. Under the Federal Reserve system, therefore, Congress would be fearful to eliminate the national debt...From the Creature of Jekyll Island G Edward Griffen (American Media) pg 510-511

Nevermind that let's watch cable news for more on Anna Nicole Smith, Paris Hilton and Britney!