I agree with many of your points but one thing I learned recently was that the US federal Treasury has to pay interest (albeit at a low rate)to the Federal Reserve for money it prints to buy Treasury bonds. However the Fed has to rebate the interest is receives (less a bit for it's own expenses)to the US Treasury. If true this means that the US doesn't care what interest rates are for its bonds (this is rebated if purchased by the Fed) and can keep on printing money for ever more with inflation being its only potential problem. Sounds to me like legalized forgery and trouble is with the US$ being the reserve currency it is stealing money from the world not just the US.
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