In a recent interview Ron Paul had argued, “We owe $1.6 trillion to the Federal Reserve. But where did they get the money to buy our debt? Well, they created it out of thin air.[pullshow id=”debt”]So taxpayers keep working hard to pay the interest to the Federal Reserve, as well as to finance these bonds if the Fed wants to take the monies. So I would say that is not a real debt. [pullthis id=”debt”]It’s a fictitious debt. It’s a dishonest debt[/pullthis], and that we’re not obligated.”
HR 2768 currently has no co-sponsors. The bill was referred to the House Committee on Ways and Means. The full text of the bill will be available soon.