> The government should NOT be handing out money to anyone Well, then we better get rid of our entire banking, payments, and public debt financing system. It

> The government should NOT be handing out money to anyone Well, then we better get rid of our entire banking, payments, and public debt financing system. It was a bit of a mind bender to learn that Treasury auctions cannot fail. The Primary Dealers have to make a market, the the Fed has to provide them with whatever additional reserves they require to do so. That also puts the lie to the nonsense about what happens if China stops buying our debt. Directly of course the answer is absolutely nothing. The Primary Dealers will continue to make a market. We would however notice if China embargoed us. And that’s something a lot of people somehow miss by focusing on the financial shenanigans. At some point economic activity has to be about real production. And that’s the best argument for UBI. Postulate that the productive side of our economy is running considerably below capacity and then increasing demand via monthly helicopter drops isn’t crazy. I have my doubts about the truth of that postulate though in the real economy.