Usually, the Federal Reserve (which is a private bank run by both U.S. and foreign national bankers) sells our debt to third parties, like other countries.  However, in 2009, there weren’t enough—by far—entities willing to buy our debt.  So what do you do when you’re having a sale and only 20% of your items are purchased?

If you’re the Federal Reserve, you buy it (80% of our T-Bonds) from yourself.  This way, you provide the illusion to citizens that the economy is actually working and not simply a larger version of the Bernie Madoff Ponzi scheme.  But it is an illusion, nonetheless, and that’s what’s depressing as Hell.

Here’s a CNBC clip where this was actually discussed and called a “Ponzi Scheme”.

[1] Here’s the article where I found out about this depressing state of affairs.