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Re: Riddle me this ....

By: monkeytrots in CONSTITUTION | Recommend this post (0)
Wed, 06 Jun 12 11:07 AM | 32 view(s)
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Msg. 18492 of 21975
(This msg. is a reply to 18490 by DueDillinger)

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Due - MONEY is debt. Credit that is UNSECURED and allowed to stand (the total balances on credit cards is in the mega-billions) - it has INTRODUCED MONEY into the system that would NOT be there otherwise.

The Federal Reserve Bank of San Francisco: Economic Research ...
www.frbsf.org/publications/federalreserve/annual/.../footnotes.html
Finally, as obligations of the United States, Federal Reserve notes are backed by the full faith and credit of the United States government. The "Federal Reserve ...




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Finally, brethren, whatsoever things are true, whatsoever things are honest, whatsoever things are just, whatsoever things are pure, whatsoever things are lovely, whatsoever things are of good ...


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The above is a reply to the following message:
Re: Riddle me this ....
By: DueDillinger
in CONSTITUTION
Wed, 06 Jun 12 10:45 AM
Msg. 18490 of 21975

No, mon. Credit is not money...it is DEBT. When you charge a purchase on a credit card, you are borrowing. This debt must be repaid with interest in the only currency that is legal in the US.

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