People who propose this are not “economists and legal scholars,” they are phonies.
The immediate effect of that would be dilution of the value of money.
And that is their wish. Inflation is the liberals’ gift that keeps on giving.
In a little country the big rich country comes to the rescue and ships in food so that the soldiers and rulers in the little famine wracked land do not starve. But when the big rich country engineers its own famine it will have to wait for the Rigellians to arrive with their UFO-loads of food.
“Why Socialists Love Inflation”
Actually, from what I can tell, a lot of economists are really that insane.
They are the sort that say the national debt is no big deal because “we owe it ourselves” and that taxing the rich to redistribute to the poor is good because they’ll spend the money and “get the economy going.”
They are, to put it mildly, very detached from reality...
How would the effect on the money supply be any different than congress authorizing them to borrow an extra $2T that currently doesn't exist?