Posted on 05/12/2023 1:07:12 PM PDT by Republican Wildcat
Flashback 8/7/2011:
David Gregory: "Are U.S. treasury bonds still safe to invest in?"
Alan Greenspan: "Very much so. This is not an issue of credit rating..the United States can pay any debt it has because we can always print money to do that, so there is zero probability of default."
(Excerpt) Read more at youtube.com ...
Of course this would put inflation on an even greater overdrive.
Taking a page from the Weimar Republic.
If there is no budget agreement at the end of the month and we reach a default day on June 1, for example, can the government on their own decide just print, the necessary money without congressional oversight or permission?
And the end of the stock market
We’ll be taking wheelbarrows of cash to buy a bag of potatoes at the store.
However the ordinary American Citizen cannot get wheelbarrows large enough to purchase their daily bread.
He basically was describing QE or Fed monetization of Government debt.
And mr green’s statement is PRECISELY the problem with relying on fiat “money”
woohoo! money trees!
The government will pay its bills while the public goes broke because the money will be worthless.
Time to end the Federal Reserve.
So I can write checks on money I don’t have to pay my bills? Seems okay to me.
Other countries are annoyed with the U.S., especially BRICS so they are looking for an alternative to the dollar. So that’s bad news for us.
Some of these idiots are actually considered minting a one trillion dollar coin, and then depositing it in the Treasury to pay bills. It’s evidently legal due to a loophole in some old coinage law.
https://en.wikipedia.org/wiki/Trillion-dollar_coin
Just today bought an item at the hardware store that a year ago cost $8.00; now it cost $11.00.
That is not eight percent inflation.
The nest egg I saved for retirement has probably half the purchasing power as when Biden seized control; maybe a little more.
Tomorrow it will be worth less.
Yeah...I think Greenspan has lost it. Or he doesn't care because he has a few tons of gold ingots stashed somewhere.
Inflation? Whassat?
It wouldn’t be good if they accidentally dropped that one in the parking lot, now would it?
If you do it they call it fraud.
If the government does it they call it wise monetary policy.
;-)
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