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You are correct, Due. 

By: monkeytrots in CONSTITUTION | Recommend this post (1)
Wed, 06 Jun 12 11:17 AM | 46 view(s)
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Msg. 18493 of 21975
(This msg. is a reply to 18492 by monkeytrots)

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Credit cards are commonly used to buy goods and services—are credit card transactions or credit card debt included in demand deposits or the money supply? If not, why doesn’t the definition of the money supply include them? .....

Answer is pretty thorough - but is just a more verbose rendition of your short reply, Due.

http://www.frbsf.org/education/activities/drecon/2005/0509.html

I am still going to have to chew on it - monkey digests slowly, as you know. Including on TMI - the degree of damage to the reactor core and containment building did NOT go un-noticed by the chattering primate.




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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: monkeytrots
in CONSTITUTION
Wed, 06 Jun 12 11:07 AM
Msg. 18492 of 21975

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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