re: Fed balance sheet - a question

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Ray, no disrespect intended but a bunch of us actually have professional experience in this field. Based on your questions you don't. There's nothing wrong with that, I don't understand a lot of other professions myself but I don't pretend that I do and am willing to sit back and learn in those cases rather than lecture those who actually do know something.

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That's great. what's your point?

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Yes - and belief in the ability to reliably collect gobs of tax money is an asset and they perform this transaction all the time. The federal government does not really have to sell anything else, at least not yet.

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I'm referring to the balance sheets of the federal reserve banks, not the balance sheet of the U.S. Government.