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How Did We Americans Collectively Get More Than $75+ Trillion in Debt?

In search for the answer to that question, letters were written to the U.S. Treasury and others. The answer received from Russell L. Munk, assistant general counsel for the U.S. Treasury was: “The actual creation of money always involves the extension of credit by private commercial banks.” This means interest-bearing loans.  Mr. Munk went on…

It’s Not Bill’s

We hear it all the time: He paid with a 5 dollar “bill” I only have a 10 dollar “bill” She handed him a dollar “bill” You’ve probably heard other ways people use “bills” when referring to paper currency. One shouldn’t use the term, “bills” in one’s daily life when speaking of Federal Reserve Notes,…

Making Money