The good news, however, is that the increased monetary base this past 12 months has been spent to buy U. S. Treasury bonds both from the U. S. and from other governments. This will enable dealing with the federal debt largely within the context of winding up the Fed, rather than as debts to other nations. This will enable America and the world to escape the grip of privately owned central banks and their fiat currencies which prevent workers and producers from gaining possession of real value as payment for their work.
