Treatise - When There is No Money

Treatise - When There is No MoneyWhen the government of the United States issues bonds to the Federal Reserve, and the Federal Reserve authorizes the printing of Federal Reserve Notes or adds digits to an account of the government, is there really any borrowing of anything? When a man signs a promissory note and gives it to a lending institution, is he borrowing money from the lender, or is the lender borrowing money from the man. Does the United States actually borrow standard

When the government of the United States issues bonds to the Federal Reserve, and the Federal Reserve authorizes the printing of Federal Reserve Notes or adds digits to an account of the government, is there really any borrowing of anything? When a man signs a promissory note and gives it to a lending institution, is he borrowing money from the ÒlenderÓ, or is the ÒlenderÓ borrowing money from the man. Does the United States actually borrow standard dollars of intrinsic value, gold or silver, or does it in effect convert the credit of the nation into a paper currency? Perhaps there is in fact no borrowing occurring, only the illusion of borrowing. When paper currency is issued, the ÒlendersÓ are the people; and the government as borrower, is a debtor to the people, who have knowingly or not, provided the value for the currency in circulation.