got anything to do with simple accounts or does it just require faith? I can believe it works differently to anything the government can tell me. I am though hopelessly frustrated by talk of simple accounting and operational realities. So why are there are the funds in accounts at the fed associated with bond holders? So that the debt to bond holders is ended from funds in these accounts? How did the funds get into those accounts? I was assuming you were saying these accounts had funds only because bond holder funds were not channeled to the government for deficit spending contrary to the legal accounting. Does the legal version of deficit spending begin with the TT and L entries or am i missing the vital piece of information i need? 1. How can accounting be after the fact record keeping when before the fact of spending the feds have to have sold bonds and have entries in the TT and L accounts? And you agree this is so in point 3 2. Yes congress can change the law or not follow the law. You agree it follows the law today 3. You agree congress imposes constaints upon itself Why does it matter? Because firstly with current spending and over time, inflation has been posative. Secondly you appear to be saying the debt is not a problem because it can be printed? where this implies that you are not concerned for future inflation because you are suggesting that unlike today