Well, I think it was a great video. Thank you very much for it.

well, CFR, the understanding of foreign relations and foreign policy is deeply undermined by the muffled microphones, low definition sound and LACK of transcript/ subtitles on your youtube posting

If congress can borrow money from the Federal Reserve without having to worry about paying it back, what do they need our tax dollars for?

I have a crazy idea. XD Don't spend more than you have.

My daddy used to own a gas station and our local rich hardly ever carried money and bought their gas on credit to pay by the month.....they were always the LAST customers to finally pay up!! Always LATE. Don't trust'em. Period!

Alan Greenspan knows how to make nonsense sound legitimate. There's no doubt about that.

Gold backed dollar changed to oil backed dollar. Why don't you tell that?

closed captions unavailable ????? with that poor sound???? this is an institution dedicated channel. what kind of joke is this???? i bet the tickets to attend this were sky high.. it seems the planets were all aligned on this one

One reason it is important for the United States to reduce its national debt is securities. We sell other countries billion dollar securities with the promise of redeeming it at a later date with interest. The capital we revive in the meantime we use to finance our government, bridge the gap in our annual budget and the deficit , fund our military, pay interests on previous priorities and, ideally or at least we used to, invest in projects and endeavors, as well as loan other countries, businesses corporations, etc. money at a higher rate than what we sell the security for. For instance if country xyz were in the market to invest in American bonds and wanted a billion dollar 15 year EE bond at say 4% and we are able to diversify and delegate it to where we loan it out at 8% then we would stand to make as much off of the bond as does xyz. So it stands to reason that we want other countries to buy billion dollar bonds from us. Now when we are constantly increasing our debt ceiling, and when we are defaulting on our promises or double entry bookeeping with contrarying end results and that 15 year billion dollar bond that xyz bought 14 years an 10 months ago is about to mature and we have moved up to wanting to sell trillion dollar securities and we know that xyz might be able to purchase one or if we want them to get another billion dollar bond so that we can show digital proof of hard assets of tangible capital to a prospectus that does want to buy a trillion dollar security so its vital that xyz purchase another bond, we want to emit fiscal solidarity and macrocountercyclically affirmed. Which leads me to wonder if with trillion dollar bonds if say Iran or Israel or even Ukraine and Russia were to be in a trillion dollar security creditor/creditee or vice versa then instead of warring with each other they would have to be bonded with one another so 5hat they both would have to succeed if they wanted the trillion dollar security to reach fruition if that makes any sense.