circular and end at spending resulting in inflation when more or less constantly we already have inflation. @Frank, I was referring to the apparent ease in which the bonds are going to be redeemed or interest is to be paid in the future where funding is said to not be a problem. And specifically it appeared warren was saying the funds were already in an account at the fed. I was not referring to where the money goes when the bonds are bought. @Andrew , It is a Theory in the true scientific sense. http://www.nebscience.org/theory.html "As used in science, "theory" does not mean the same thing as it does in everyday life. A theory is not a guess, hunch, hypothesis, or speculation. It is much more full-blown." At redemption, the process works in reverse; the balances are just transferred from the holders Securities account at the Fed to a Funds account at the Fed. So yes the balances are already "there". I'm pretty sure that this jar with the 52,000 coins had to be in the possession of some sort Roman finance official or tax collector; consider this large 52,000 coin jar our modern day TGA (Treasury General Account) in Britannia. When the tax collector went out to the shire to collect poll tax and then pay the Legion, he would collect the taxes in the morning and make payroll for the Legion in the afternoon. Perhaps he would take a smaller bowl with him to temporarily hold the denarius