What we have is $34 Trillion of embezzlement. T securities sent to Fed are auctioned as components to Redeeming securities and sent to FRBOG, Inc., [Rothschild] shareholders--and auction accounts are never audited. Ref. 31 CFR #375.3.

The Fed runs a Ponzi scheme. Deficit Spending T securities are sent to FRBNY and create fiat book-entry credit principle. The promise is to repay the principle PLUS INTEREST to redeem. The interest is never created--it does not exist. New principle is used to pay interest due. Classic Ponzi.