2 ms·
I wasn't talking economic theory, I was talking about how U.S. dollars are created. A lot of people have the mistaken notion they're printed into existence beca
by taylodl 4y ago
I wasn't talking economic theory, I was talking about how U.S. dollars are created. A lot of people have the mistaken notion they're printed into existence because, well, some countries have handled their money that way. U.S. money is debted into existence. The Fed can't carry that debt on their balance sheet so they have to be able to sell it off. You can continue creating money this way without too much fear of inflation so long as you can find a buyer for the debt. That will be the case so long as people have faith in the credit of the U.S. - something which Republicans have repeatedly tried to destroy (even though it's unconstitutional to do so, but that's another matter).
The simple answer is you can't crank up the printing press and print money. That's not how it works.
- steponlego 4y agoYes it is, it's called monetization. Of course we then owe the money plus interest to a banking cartel. But it's all quite simple to understand.
- taylodl 4y agoA banking cartel of Congress' own making and Congress has the authority to shut it down any time they choose. It's just the banking cartel has been doing a better job of running the nation's economic policy than Congress has - which should surprise no one. For example, I trust the "banksters" on these matters more than I trust MJT.
- steponlego 4y agoEven Congresspeople want to live.