2 ms·
> Does it? Or is this just how the system is currently designed? It does in the sense that the US Government will default on its financial obligations if banks
by runeks 4y ago
> Does it? Or is this just how the system is currently designed?
It does in the sense that the US Government will default on its financial obligations if banks don’t use deposits to buy government bonds.
- dllthomas 4y agoI'm very much not saying that the outcome wouldn't be disastrous, but IME default is clearly unconstitutional, and so if statute and circumstance conspire to make default the only option then violating some statute to prevent default is appropriate, potentially to the point of just printing what we need to meet our obligations.