It will print enough money to buy all the debt if need be. Even though financing the government isn't in its mission statement; this is one of the reasons Congress approved its creation.
“It will print enough money to buy all the debt if need be. Even though financing the government isn’t in its mission statement; this is one of the reasons Congress approved its creation.”
It probably will eventually. The problem is, it also risks utterly destroying the currency in the process.
They can also nationalize private retirement accounts and “invest” them in treasuries. The idea has already been kicked around.
And if I'm a television manufacturer in China I'm going to want $20k for that big screen television, and that gallon of gas is going to cost us $15.
Everybody (except the folks counting on government handouts) can play this game.