Have you ever used a credit card to pay another credit card bill? How about passing or as we used to say "floating" a check that you knew was no good, hoping the money would be in the account when the check was presented to the bank for payment? Most of us with a conscience will say no. OK, I admit that I have mailed a check to a utility company before I actually deposited my paycheck, and the one time things didn't "float" the way they were supposed to and I had to pay an additional $20 to the bank and $20 more to the utility broke me of that habit.
Now we look at the Federal Govt. So far in debt that our great-grandchildren will still be paying off our Visa and Master Card charges. Taking lessons from the Wiemar Republic, the Bernanke run Federal Reserve Bank has decided to "purchase" some of our government's debt. How nice is that?
The only problem here is that the Fed doesn't do much except print paper and create wealth out of thin electrons. When they need money to print, I mean purchase, debt, all they do is add numbers to the balance sheet via fiat order.
That's great, right? Not just no. By adding volume to the amount of currency in circulation, inflation is created, thereby devaluing the money in every one's savings accounts, 401k's, brokerages, etc...
The Fed is robbing you to pay off the debt, since adding taxation seems to make people angry.
You have been robbed. And you didn't even notice. Suckers.