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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (130992)	4/23/2012 8:49:36 PM
From: Wayners	1 Recommendation Read Replies (1) \| Respond to of 224890

Like I said, unless there is a bankruptcy, you cannot make a claim against the asset side of the Fed. Yes the Fed could go insolvent if the U.S. Govt defaulted and refused to pay. The First Central Bank of the U.S. when Andrew Jackson was President went bankrupt after the U.S. Govt said they would no longer use them as their bank. Yeah they could print money, but they were still busted, because there was nothing on the assets side of the equation. In banking, loans are counted as assets.