Sorry shooter, at the time I posted this, I thought it was "hypothetical" like riding a unicorn to the prom, but it turns out that the answer to your question is quite simple and very practical (as it has been done before). All that is needed to eliminate the deficit and simultaneously create inflation is to print money not backed by debt. It is an old idea since it was done after the Civil War. The printed Treasury notes were called "greenbacks" and they must have worked because the Treasury retained the authority to print notes for many years. They may have caused a "depression", but that is hardly the horror that you seem to believe. Our country has survived many of them and some would suggest without serious harm. There is NO reason that the Fed should put the country in limitless debt and enslave our grandchildren. It is simply a bad idea that has given too much power to the Federal Reserve Bank. Power that it does not have under the Constitution and power that it has seriously abused.
23 replies to this topic
Posted 05 May 2016 - 07:30 PM
my bad for pointing out that our currency in the past was backed by our reserves in metals.
"All a real man needs is his QQQ and toiletries".......circa 2001 by Full Of Bull, ex-member Prudent Bear Chat.
Posted 02 April 2017 - 11:56 PM
wow, is this this thread old. It is so old that the debt ceiling back. Now what ? I haven't a clue. Maybe, WW III will start and I will stop worrying about silly budgets.
Posted 28 October 2018 - 04:48 PM
Has Lee got a real job yet?
There is symmetry in most things. In the markets, the greed on the way up is equal to the fear on the way down.
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