Jason,

Thank you for this post. Kids in 5th grade can tell you in general terms how a gallon of gasoline comes into existence, yet it seems that no one knows how our money comes into existence.....and this is way more important especially in the current state of our economies. Thanks for helping "clear the air". As the smoke rises and the mirrors shatter it will become self evident that we desperately need the reforms proposed by Kumhof, Zarlenga, Yamaguci and others. These reforms are only far fetched IF WE THINK they are. Look up the NEED ACT. It was proposed twice in congress. It has already been vetted. All it needs is a little updating and get it introduced again. These reforms turn out national debt on it's head allowing us (Government) to create the money needed to allow the power of creative LABOR to rebuild our infrastructure, fund education and healthcare while paying off our national debt. Please note: This ONLY sounds crazy if you do not understand how our current system works and how it can only drive our national debt UP....WAY UP.
Thanks again.