What Does the Federal Reserve Take as Collateral on Loans?

@mythociate (13827)
Oklahoma City, Oklahoma
February 24, 2011 6:40pm CST
I know back in the past it was Gold, but what now? Silver? Lithium? Tulips? State-District Working (and thus Tax-Paying) Populations?
2 responses
@jwfarrimond (4475)
25 Feb 11
Flesh, as in pound of.. But seriously, in common with the rest of the world, the American dollar is a fiat currency which means that it is backed by nothing at all. It's just printed paper and nominal notations on computers.
1 person likes this
@mythociate (13827)
• Oklahoma City, Oklahoma
26 Feb 11
So the National Debt (at least the part we 'owe' to the Federal Reserve) is just a big lie to keep America from making us Kings and Queens all filthy-rich?
26 Feb 11
Thats right!
1 person likes this
@mythociate (13827)
• Oklahoma City, Oklahoma
4 Mar 11
(Awesome!)
• United States
25 Feb 11
I say now we can consider them taking blood as collateral, as no one gets past them.
1 person likes this