"Those interest payments go to holders of the government debt, which range from US citizens to foreign countries." ... and also the fed[1] which, currently, ho

"Those interest payments go to holders of the government debt, which range from US citizens to foreign countries." ... and also the fed[1] which, currently, holds more than 10% of the US debt[2]. "The popular narrative about governments printing free money isn’t really true in the simplified meme-style presentation that we hear online." Perhaps - but it is getting more true all the time. In the case of the ECB it is getting more true all the time in the absence of any oversight, transparency, adherence to constitutional law or democratic processes[3]. [1] https://www.nytimes.com/2020/12/16/business/economy/fed-december-meeting.html https://www.nytimes.com/2020/12/16/business/economy/fed-dece... [2] http://www.crfb.org/blogs/fed-buying-our-new-debt http://www.crfb.org/blogs/fed-buying-our-new-debt [3] https://www.lrb.co.uk/the-paper/v43/n01/perry-anderson/ever-closer-union https://www.lrb.co.uk/the-paper/v43/n01/perry-anderson/ever-...