This Hewitt/Steyn exchange reminded me of something interesting:
61% of federal debt was actually bought by…the Federal Reserve.
When our system eventually (i.e., soon) goes belly up, shouldn’t the Federal Reserve be the last creditor in line? Especially in a moral sense?
Yes yes, the Federal Reserve System is supposedly “quasi”-federal.
Thus the Federal Reserve has both private and public aspects.
Uh-huh. Unlike Bernie Madoff, but exactly like Jon Corzine.
I say, stiff the Fed! The government must pay off everyone else…even the Chinese…before it shifts money from the second pocket back to the first one.