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- Oct 2024
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50:32 Currency is the governments I.O.U. 52:04 When the government gets its tax, it no longer has the debt so it burns the currency which was an I.O.U.
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- it no longer has teh debt
- Federal Reserves are on the Liability side of its balance sheet
- The currency itself is the governments debt
- When tax is paid
- The dollar bill is a debt of the federal reserve
- Currency is the governments I.O.U.
- The US Dollar is a US Tax Credit
- When the government gets its tax, it no longer has the debt so it burns the currency which was an I.O.U.
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