“The best thing I have are 5 percent bonds from 1780, denominated from $1 to $20. As far as I can tell, they are obligations from the United States of America, so I should be able to walk down to the Federal Reserve and redeem the uncanceled ones. With 217 years of accrued interest, for a $20 bond, that's about $800,000.” ShouldYearsI CanStatesAbleAmericaInterestWalksUnitedUnited StatesPercentObligationBest ThingsReservesUnited States Of AmericaFederal Reserve Author:Andrew Tobias
“If you ask the question of Americans, should we pay our bills? One hundred percent would say yes. There's a significant misunderstanding on the debt ceiling. People think it's authorizing new spending. The debt ceiling doesn't authorize new spending; it allows us to pay obligations already incurred.” PeopleIfsThinkingShouldAsksPayPercentHundredBillsDebtSpendingSignificantObligationMisunderstandingCeilingsGlass CeilingDebt Ceiling Author:Peter Welch