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quaker bill

(8,224 posts)

3. We "owe" ourselves trillions in the currency we print

Reply to HiPointDem (Original post)

Wed Oct 24, 2012, 07:36 AM

Oct 2012

Could we simply decide to forgive ourselves? I think so. There is risk in this in that the money we created from thin air to buy our debt will simply remain in circulation. If done suddenly, there would be a risk of inflation. However, if done over time the risk subsides.

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Suddenly, Everyone On Wall Street Is Taking The 'Red Pill' Of Economics [View all] HiPointDem Oct 2012 OP

Yep. New lobby groups will spring up that reccomend a "restructuring". No need geckosfeet Oct 2012 #1

One problem with that, there would be no pile of wealth to sit back on. Egalitarian Thug Oct 2012 #8

Agreed. But accumulated wealth can be used now to amass items that will be of value geckosfeet Oct 2012 #12

Not really, that's why the current system was accepted. More than one Lord learned the hard way that Egalitarian Thug Oct 2012 #14

Did people think all the money was going to be paid back by taxing the rich... PoliticAverse Oct 2012 #2

A bit of inflation is not a bad thing quaker bill Oct 2012 #4

Read "Nickel and Dimed" and get back to us on that inanity. WinkyDink Oct 2012 #16

Take basic economics and get back to me quaker bill Oct 2012 #20

Taxing billionaires down to centimillionaires is a good starting point. Ask small communities. WinkyDink Oct 2012 #15

We "owe" ourselves trillions in the currency we print quaker bill Oct 2012 #3

And if every bank agreed to this, would there be no net loss? randome Oct 2012 #6

Will we be forgiving the $2+ trillion we 'owe to ourselves' in the Social Security 'trust fund' ? nt PoliticAverse Oct 2012 #7

It is all "notional" anyway quaker bill Oct 2012 #19

Du rec. Nt xchrom Oct 2012 #5

Never mind the red pill... The rich need to swallow the "bitter pill", and start paying more taxes! reformist2 Oct 2012 #9

Ya think? bemildred Oct 2012 #10

Isn't that the way that Fed debt and borrowing from the SS Trust Fund have always worked? leveymg Oct 2012 #11

This article points out an obvious and well hidden-in-plain-sight fact about our modern world. Egalitarian Thug Oct 2012 #13

WAY too late--With QE, the US already has taken "the red pill" ProgressiveEconomist Oct 2012 #17

Can we inflate our way out of the debt like the US did in 1947? Zalatix Oct 2012 #18