Lee Metcalf: “does anyone believe that it would be possible to reduce our national debt by $600 billion and reduce our annual interest…”

“does anyone believe that it would be possible to reduce our national debt by $600 billion and reduce our annual interest payments by $6 billion with no harm to anyone nor to any program? That sounds too good to be true, does it not? But it is true, it is simple, and it is possible. Most people have little knowledge of how money systems work and are not aware that an honest money system would result in great savings to the people. We really can cut our national debt by $600 billion and reduce our Federal interest payments by $30 billion per year. It is an undisputable fact that Federal Reserve notes, that is our circulating currency today, is issued by the Federal Reserve in response to interest-bearing debt instruments. Thus, we indirectly pay interest on our paper money in circulation. Actually, we pay interest on the bonds that so-called back our paper money. That is the Federal Reserve notes. This unnecessary cost is $100 per person each year in our country, an absolutely unnecessary cost, $100 per person each year.”