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- Butcher Bob
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- ben ttech
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The idea of using the U.S. Mint to cover government costs rose to prominence in 2011 during a fight over the debt ceiling and briefly emerged once again in 2013. As Matthew O'Brien explained in The Atlantic at the time, federal law "lets the Treasury create coins in whatever value it wants, even $1 trillion."
"It's all straightforward enough," O'Brien wrote. "The Treasury would create one of these coins, deposit it at the Federal Reserve, and use the new money in its account to pay our bills."
Tlaib's office presents the proposed financing mechanism as a way to assuage the fears of debt mongers concerned about the price tag of sending recurring payments to everyone in the U.S. Funding the bill by having the Treasury mint trillion-dollar coins would mean "no additional debt," according to the Michigan Democrat, who has a website devoted to explaining the idea.
same
"It's all straightforward enough," O'Brien wrote. "The Treasury would create one of these coins, deposit it at the Federal Reserve, and use the new money in its account to pay our bills."
Tlaib's office presents the proposed financing mechanism as a way to assuage the fears of debt mongers concerned about the price tag of sending recurring payments to everyone in the U.S. Funding the bill by having the Treasury mint trillion-dollar coins would mean "no additional debt," according to the Michigan Democrat, who has a website devoted to explaining the idea.
same
"disaster is the mother of necessity" rSin
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- Jesús Malverde
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The big downside is getting the deficit hawks all in a bother and spreading their filthy, ignorant bilge.
One for the rook
One for the crow
One to rot
and one to grow
One for the crow
One to rot
and one to grow
- ben ttech
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as if theyre not spitting up on themselves already, but with this there ISNT any debt!
like finding a cnote
its pure windfall
nothing to repay
id go big
we could quickly renovate and repave the nations
then get straight to exporting the elements of prosperity the rest of the globe needs
for free
would be singularly genius in destablizing the foreign actors who preach against us
no better remedy for terrorist
like finding a cnote
its pure windfall
nothing to repay
id go big
we could quickly renovate and repave the nations
then get straight to exporting the elements of prosperity the rest of the globe needs
for free
would be singularly genius in destablizing the foreign actors who preach against us
no better remedy for terrorist
"disaster is the mother of necessity" rSin
- Butcher Bob
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QE does not directly affect national debt either...so I'm not seeing a beneficial difference.
Something I'm not seeing being addressed is M (money supply). This is not "free" money...it has a cost. It is effectively a tax. To illustrate how that works, let's consider a very simplified example. Let's say the current amount of currency (M) is $1 trillion, and then you coin another $1 trillion to add to it, raising M to $2 trillion. But M is still M no matter the denominatory amount...so where did the "value" of that new currency come from? Well, original currency holders had 100% of M, but after the new currency is added, they now only have 50% of M. The "value" of the new currency has effectively been taxed from the holders of the original currency.
Something I'm not seeing being addressed is M (money supply). This is not "free" money...it has a cost. It is effectively a tax. To illustrate how that works, let's consider a very simplified example. Let's say the current amount of currency (M) is $1 trillion, and then you coin another $1 trillion to add to it, raising M to $2 trillion. But M is still M no matter the denominatory amount...so where did the "value" of that new currency come from? Well, original currency holders had 100% of M, but after the new currency is added, they now only have 50% of M. The "value" of the new currency has effectively been taxed from the holders of the original currency.
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i dont see any reason for assuming the added funds arent currency...
id say the history of QE shows that the method DOESNT affect inflation/deflation one bit
congress is held to the establishment of a STABLE means of exchange, period
id say the history of QE shows that the method DOESNT affect inflation/deflation one bit
congress is held to the establishment of a STABLE means of exchange, period
"disaster is the mother of necessity" rSin
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Who's assuming that?ben ttech wrote:i dont see any reason for assuming the added funds arent currency...
What history?id say the history of QE shows that the method DOESNT affect inflation/deflation one bit
And you would be wrong...it is an inflationary tool that can be used to change periods of deflation.
How so? Sure, they're responsible for that...but what mechanism holds them to that?congress is held to the establishment of a STABLE means of exchange, period