A massive crisis created by the government, perpetuated by the government. We’re all feeling the pains already today - but the government “solutions” are only guaranteed to make things much worse.
Path to Liberty: Feb 22, 2023
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Debt is the money supply, is it not. Sure, I think we should just stop issuing debt, and then the money supply simply becomes spending absent the Treasury Bonds that soak that up out of the economy, and absent all that totally useless interest, Stimulus Checks for People who don't need stimulus, Mosler calls it. Absent money supply what one has is, as a share of any growing economy at all, money de-supply--an ever decreasing quantity of currency in relation to the real goods and services it services.
I jump in here with where I am currently watching:
05:15 "They're stealing it from us." Taxes are not theft. Perhaps the arbitrariness of taxes might make a topic for discussion, but it begins with businesses--the profits of business are at the whim of businesses. Businesses set prices without consulting their customers. Businesses set wages, in non-union shops, without consulting their workers. Private business is government by another name, as any entity that has power over the people is government, by any name, in common sense. We are not consulted as to either prices nor wages.
BACK to the topic the video starts with.
Well, big companies use Treasury Bonds as bank accounts, since there is a per-account limit on insurance of deposits, Nathan Tankus suggests in an interview on the Rabbit Hole Podcast of February of last year. So that is one thing to consider. Even if all were right-sized, we would still need some big companies, or corresponding public organizations fulfilling the role they now play, so we do need to consider this kind of thing ultimately: what is good for business!
Putting that aside.
One good thing about Treasury Bonds is it keeps the money away from the banks, in so far as the Treasury Bonds that are owned by the non-bank sector of the economy.
The debt is self-imposed, of course, as Congress could at any moment decide that the Treasury need not continue to issue Treasury Bonds. If the Treasury just stopped issuing, within thirty years, there would be no more debt, and no more inflationary interest--whatever the private sector needs for a growing quantity of currency to match-up with, and fund, the growth of the economy would come directly from spending and no longer from interest. But you see, spending per-se is not inflationary, only interest. Government spending is the purchase of a real good or service, and so spending strictly matches one-for-one a corresponding supply of goods and services. It is interest that is the problem. While the private sector needs a modicum of currency of its own, on the whole one has to assume interest is money-for-nothing, and hence inflationary. As I just said, this is self-imposed by Congress, as Congress could just allow the Treasury to cease all debt-issuance and all United States Federal Government debt, and corresponding inflationary interest, would disappear within thirty years.
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I jump in here with where I am currently watching:
05:15 "They're stealing it from us." Taxes are not theft. Perhaps the arbitrariness of taxes might make a topic for discussion, but it begins with businesses--the profits of business are at the whim of businesses. Businesses set prices without consulting their customers. Businesses set wages, in non-union shops, without consulting their workers. Private business is government by another name, as any entity that has power over the people is government, by any name, in common sense. We are not consulted as to either prices nor wages.
BACK to the topic the video starts with.
Well, big companies use Treasury Bonds as bank accounts, since there is a per-account limit on insurance of deposits, Nathan Tankus suggests in an interview on the Rabbit Hole Podcast of February of last year. So that is one thing to consider. Even if all were right-sized, we would still need some big companies, or corresponding public organizations fulfilling the role they now play, so we do need to consider this kind of thing ultimately: what is good for business!
Putting that aside.
One good thing about Treasury Bonds is it keeps the money away from the banks, in so far as the Treasury Bonds that are owned by the non-bank sector of the economy.
The debt is self-imposed, of course, as Congress could at any moment decide that the Treasury need not continue to issue Treasury Bonds. If the Treasury just stopped issuing, within thirty years, there would be no more debt, and no more inflationary interest--whatever the private sector needs for a growing quantity of currency to match-up with, and fund, the growth of the economy would come directly from spending and no longer from interest. But you see, spending per-se is not inflationary, only interest. Government spending is the purchase of a real good or service, and so spending strictly matches one-for-one a corresponding supply of goods and services. It is interest that is the problem. While the private sector needs a modicum of currency of its own, on the whole one has to assume interest is money-for-nothing, and hence inflationary. As I just said, this is self-imposed by Congress, as Congress could just allow the Treasury to cease all debt-issuance and all United States Federal Government debt, and corresponding inflationary interest, would disappear within thirty years.