Hello Wayne,

 WH>>>> [...]

 >>>>>    I know all there is to know about fiat money. I have a university
 >>>>> degree to show for it. I also know that there's a limit to how many
 >>>>> trillions (US -- not metric) of dollars the FED can print and get
 >>> away
 >>>>> with it.

 WH>>>> Great to know!  I will probably have a lot of question.  If I may
 >>> start
 WH>>>> with one, where can we find out when money is printed and how much?
 WH>>>> (This must be public information, I suppose.)  Does the question
 >>> make
 WH>>>> sense?  Thank you!

 >>> Jekyll Island. Meet the Creature. Learn everything you have always
 >>> wanted to know ...

 WH> Thank you for the recommendation.  I completely read part I and II and
 WH> continue the reading, but I think I can open some tangents on my reading
 WH> to ask some clarification and do some verifications.

Money is not what most folks think it is. Look at it as more of a
process. Who controls it, and how it is used.

 WH> On page 192 of the 5th edition, George Edward Griffin begins to describe
 WH> the ``Mandrake Mechanism''.  I was warned that the process might not
 WH> make much sense, but I'm not trying to find any sense in this.  My
 WH> interest in only in clarity.

 WH>    ``First, the Fed takes all the government bonds which the public does
 WH>    not buy and writes a check to Congress in exchange for them. (It
 WH>    acquires other debt obligations as well, but government bonds comprise
 WH>    most of its inventory.)''

 WH> Let me take each step carefully.  The government issues bonds.  Some
 WH> people buy it.  Some bonds are not bought.  How does Congress get
 WH> involved in this?  Is it the case that Congress buys all those people
 WH> did not buy?  With what money does Congress buy?  Is Griffin saying that
 WH> the Fed itself ``writes a check to Congress'' so that Congress can
 WH> afford it?

 WH> Let me begin with these questions only.  Thank you.

The Congress does not spend money. It merely appropreates funds.
That is what most folks fail to realize, or simply do not understand.
Bankers understand the process, and how to make money work for them.
You see, money is nothing more than a medium of exchange. And as you
know, no real money ever passes hands in Congress.

--Lee

-- 
Make 7-Up Yours

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