Fact Of The Day #7: Who Holds The Note? Look In The Mirror

You can look in the mirror all you want and you won't change the fact that the Federal Reserve is not us, a piece of our own government.  It is a privately owned organization.  I don't even trust this article's amounts owed because, from the investment newsletters I get, China stopped buying our treasuries a while back and Bernanke's been buying them.  Last I heard the Fed had about 70% of our treasuries.  ~ Faye

As of summer 2012, the federal government’s outstanding debt surpassed $15 trillion. Who are the nation’s creditors? The government owes the most money to — itself. U.S. government agencies, including giant trust funds of the Social Security and Medicare systems, and the independent Federal Reserve System account for 41 percent of the federal debt, more than $2 of every $5. Nearly one-third of the national debt is owed to other countries. China is the biggest foreign creditor ($1.144 trillion), followed by Japan ($1.076 trillion), but together they own less than 15 percent of it. Mexico and Canada together are owed $90 billion.

http://www.huffingtonpost.com/2012/08/05/national-debt_n_1741407.html?ncid=edlinkusaolp00000009