Continued discussion on NCIU and the FED:
Like the idea but dissagree on the economics. FED isnt only institute to accept Treasury debt. China, Russia, Japan etc. are major holders of treasury instruments. Fed only started accepting them directly because other countries didnt want them. IOW, we had no one else to issue US debt to in exchange for FENs…too much US nat'l debt outstanding. (If my memory serves me). Also, this doesn't change the enrichement of the FED on interest profit and product profit (cost of making/distributing notes v. face value of notes repaid)….its still windfall profit for FED no matter what. Doesn't nueter the FEDs ability to heat or cool velocity of money or control the fed rate. Adding credit unions to list of who accepts USG debt is moot. I like using the idea of Credit Union network as the new banking network, you may be on to something there, but to truly nueter the FED, you have to cut off its profits…maybe what will happen is the Treasury will issue gold backed coins or notes (not FED notes) through the NCIU when POTUS shuts off the FED….the other consideration is the US debt outstanding. In theory, the Treasury could issue a $20T coin (fiat value) and "pay" the FED its fake debt with fake value.
That would be a glorious FUCK YOU to the Roths, big banks, and the whole FIAT system