I still hate Xmas.....

Xmas day is OK but the rest, You keep it. The store's nuts and we all have just about had it. I more shopping day.

Patti is doing her best to enjoy it as it could be her last that she will be able to participate in as her disease cripples her more and more until she will be helpless.

I did find an excellent explanation of or fiat money system who does a better job explaining it than I usualy do.....

–Why federal debt is not debt, and federal borrowing is not borrowing « #Monetary Sovereignty – Mitchell

magine you are the only person in the world and your bank is the only bank in the world. Your checking account has a balance of $1,000, which represents all the dollars in the world. For whatever reason, you now wish to borrow $2,000 from your bank. Can you do it?

Yes, if your bank has a 20% fractional reserve lending limitation, it can lend up to $5,000, in a series of steps described at Fractional Reserve Banking.

Where will the bank get that $2,000? From nowhere. Money does not exist in any physical form. All your money – all anyone’s money – is just numbers on a bank statement. Changing those numbers changes the amount of money you own. When a bank lends money, it creates those dollars, by marking up checking accounts. Personal borrowing creates dollars.

Then, when you pay down the loan, you destroy the dollars your bank previously created.

Contrast that with the way our federal government “borrows,” i.e. creates “debt.” Federal “debt” is nothing more than the total of all outstanding Treasury securities, among which are T-bills, T-notes and T-bonds.

Anyone can “lend” to the federal government. If you wish to lend $1,000 to the government, you purchase a T-bill. The process is this: First, you deposit $1,000 in your checking account, i.e. your bank marks up the numbers in your checking account by one thousand. Then, the federal government instructs your bank to mark down the numbers in your checking account by one thousand, while simultaneously marking up the numbers in your T-bill account by one thousand (ignoring, for the sake of illustration, interest).

The simultaneous mark down of