And this would do what? They already printed the greenies to "pay" for them. Burning them just means they never have to be "redeemed." (For those who do not know when the Fed "redeems" Treasury Paper, it means the Treasury gives greenies to the Fed which then disappear as if they never existed.)
ML/NJ
Government cannot be “big” without a large manufacturing base (sustainable revenues) and with a worthless currency. The victory of the bipartisan socialists is turning into defeat, and they’re crazy with fear. They’ve made quite a mess. Thus...the ever crazier political speech. Better, more independent Americans will rebuild under our formerly good morals and Constitution that have been temporarily violated.
Crazy uncle Ron is right-as-rain as usual on economic matters.
We should not be borrowing to fund gov’t spending. Spending in excess of revenue has roughly the same devaluation impact whether bonds are created or not. Inflation is partly a function of monetary supply which could easily be controlled without bonds. Why should we pay interest on top of taking the devaluation for the privilege of using our own money? If we’re going to run on fiat currency, we may as well use one of the inherent advantages, which is that it should cost nothing besides paper and ink to increase supply.
Taxes are another thing that are technically unnecessary in a fiat system. All gov’t spending could be paid for by simply firing up the presses. Everybody pays ‘their fair share’ through currency devaluation. Taxes are only necessary under an asset-backed currency where real wealth transfer must occur in order for the government to fund itself.
When that happens we'll be no different than Haiti.
Countries like Haiti and North Korea can't pull this kind of stunt... and if we're not careful we won't be able to either.