The debt hawks are to economics as the creationists are to biology. Those, who do not understand Monetary Sovereignty, do not understand economics. If you understand the following, simple statement, you are ahead of most economists, politicians and media writers in America: Our government, being Monetarily Sovereign, has the unlimited ability to create the dollars to pay its bills.
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For you who have been clamoring to hear again Abby’s and my dulcet tones, or would simply like to hear some rarely heard, counter-intuitive facts about our economy, click this link to the Abby Romain interview (“Center:Uncensored Show” WNZF NewsRadio 106.3 FM/1550 AM).
Rodger Malcolm Mitchell
http://www.rodgermitchell.com
No nation can tax itself into prosperity, nor grow without money growth.
MONETARY SOVEREIGNTY
Good interview Rodger! I posted a link to It in my blog.
You say that treasury debt has no function. It enables individuals to save inflation free and risk free. What do say to that?
In the UK we have ‘National Savings’ which allows you to save risk free with the government.
It is fairly straightforward to offer accounts directly with the Fed to natural persons if that is what is seen as desirable.
The only federal “debt” both inflation free and risk free are TIPS, which if memory serves, amount to about $280 billion, or about 2% of the $13 trillion in outstanding treasury debt. So, 98% of the “debt” not only is useless, but harmful, because it misleads the public and the politicians into thinking the federal government has “unsustainable” debt.
Rodger Malcolm Mitchell
Is there somewhere i can still find this available? Would love to hear the interview.
Try: https://rodgermmitchell.wordpress.com/2011/08/02/again-with-abigail-romane-perhaps-the-only-broadcaster-in-america-who-understands-economics/