“Re: What is the US National Debt and Who Owns it?” by Doug Duff – 11.13.23



Entry Submitted by Doug Duff at 9:54 PM ET on November 13, 2023

Public Debt: Private Asset

[For sake of brevity, most of this discourse has been eliminated; I continue.]

The symbol of energy in a social system is called money.

There are two types of “money.” Money of exchange is/are the paper notes exchanged for merchandise that most people, erroneously, call “dollars.” Money of account is/are those digits placed on one, or both, side(s) of a ledger that are tallied in an account and represent some form of “energy.” Money of account is simply moved from one location to another. Most transactions are EFT, Electronic Funds Transfer. The movement of digits represents the most accessible form of “purchases” where “credit” is extended to a legal, or artificial, entity for one purpose or another.

The National Debt

Money, which does not disclose its backing or its surety, is Negative Money (meaning that it is a receipt for stolen property) consisting of either deposits stolen taken from a depositor(s) or collateral stolen taken from the first borrower(s).

In a transaction, the value and the receipt (for the value) move in opposite directions. When a thief steals from a victim, the act of theft passes positive value from the victim to the thief, and the act of theft passes negative value from the thief to the victim. Negative money/value moving from the thief to the victim, is the same thing as Positive money/value moving from the victim to the thief.




When the Federal Reserve Corp. (the Fed) loans (passes) negative money to the U.S. Government (U.S. Gov.), and the U.S. Gov. passes the positive money/property (collateral) of the American public to the Fed, the Fed is the thief and the public is the victim. The Fed is the debtor and the American public is the creditor.

The total positive value, moved in this manner, is the NATIONAL DEBT, which, therefore, is THE AMOUNT OWED TO THE PUBLIC BY THE FED and not the other way around. The U.S. “National Debt” arises from negative money (minus money) Spent into circulation by the Federal Reserve Corporation by loaning it to the U.S. Government. It is money owed to the people of the United States of America by the members of the United States Congress, by the United States Government, and by the Federal Reserve Corporation and its agents to repay the positive value, which they stole took, when they issued their Negative Money

In the Circular named “Public Debt: Private Asset” published by the Federal Reserve Bank of Chicago in January, 1999, you will find on page 4, “Debt as an asset” these words, “…to a customer a savings account at a bank is an asset. However, to the bank it is a debt.” (May be downloaded at:

Then, further down on that page you’ll find, “Debt, then, is considered an asset of the creditor, and a claim against the assets and earnings of the debtor. In terms of the national debt, every dollar of the government’s debt is someone’s asset.”


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