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quaker bill

(8,224 posts)
8. actually almost none of this is really true
Thu Nov 29, 2012, 11:10 PM
Nov 2012

money is notional when you own the "printing press". When it comes time to redeem the t-bills the requisite 1s and 0s will be mouse clicked into the required accounts which will then be mouse clicked into the beneficiaries accounts. No greenbacks and very few if any checks will ever be printed to do this. The money supply is not fixed or finite, ever. Warren Buffett put it, "you figure out how to collect 18.5% of GDP and where to spend 21% of GDP" (basically forever, because a 3% GDP deficit is sustainable, roughly forever, in fact this grows the money supply by 3% a year which is roughly where you want to be for economic growth). This is roughly 450 billion dollars in the current economy, more as it grows.

If that person thinks a US Treasury Bond is equivalent to an "IOU"..... A HERETIC I AM Nov 2012 #1
those "IOUs" are T-Bills NMDemDist2 Nov 2012 #2
They are not T-bills (which are a specific type of government security) PoliticAverse Nov 2012 #6
"special Treasury bonds" alc Nov 2012 #7
There are a few things that make them 'special'... PoliticAverse Nov 2012 #9
special rated T-BIlls, the best of the best available FogerRox Nov 2012 #12
"Also, social security has NOTHING, ZERO, NADA, ZILCH to do with the deficit." PoliticAverse Nov 2012 #3
That's what *I* said to him LaydeeBug Nov 2012 #5
"To cover the IOUs Govt will have to pull from the general fund in the future." PoliticAverse Nov 2012 #4
actually almost none of this is really true quaker bill Nov 2012 #8
What you refer to is generally known as 'monetizing the debt'... PoliticAverse Nov 2012 #11
with what do they buy it? quaker bill Dec 2012 #19
They've been saying this for 20 years that I know of. Mariana Nov 2012 #10
He said that LaydeeBug Nov 2012 #14
You might ask him why he's speaking in the present tense Mariana Nov 2012 #15
I told him she's not an elected official, and she hasn't held hearings on anything because *she* LaydeeBug Nov 2012 #16
You know, he probably knows all that already. Mariana Nov 2012 #17
Oh, he is ABSOLUTELY the perpetrator, you have NO IDEA...or, rather, you do. LaydeeBug Nov 2012 #18
BWAHAHAHA!! I "shared" his post, so he couldn't delete it and he wrote, LaydeeBug Nov 2012 #13
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