Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'

:Bernak is money :

Party over. Out of time.

We pay taxes to control inflation.

A sovereign government like the US that doesn’t peg its currency to any other currency or metal, is not restricted in its ability to spend.

The national debt is a false crisis and is never a burden to future generations. You are just led into believing this so that your social benefits can be cut and you won’t say anything. Or your taxes will be increased and you won’t say anything. In fact you will beg them to increase your taxes and take away your benefits.

Much of the deficit reduction propaganda is promoted by billionaires to increase the gap between the .1% and the rest of us.

Last Edited by PetGoneBad on 03/02/2013 07:32 PM

THANK YOU, SIR. There are so many people, even on this site, who seem to blindly accept the proposition that all of our public services need to be cut. So many Fox News fucks think that way because they've been brainwashed. Meanwhile, the Fed hands billions of dollars over to its banker friends every month.... and the people willingly accept having to "tighten their belts" (a great propaganda phrase tossed around by Fox News).

SOMEONE GET THIS MAN A MEDAL.

smoke and mirrors?

More gross stupidity. There is no debt. Ask Joe Neubarth, head of the Neubarthian School of Economics. IF the FED buys all of the US national debt, the US would not have to pay interest on the debt, because the FED is a not profit institution and has to put any profit into the US Treasury for the US government to use.

Hence, there is no interest that we are a actually paying, and NO NEED TO PAY OFF THE NATIONAL DEBT.

IF YOU DO NOT HAVE TO PAY IT OFF, WHY NOT JUST DISMISS THE DEBT. According to Joe, that is all we have to do with the National Debt and POOF! IS IS GONE! AMEN.

THAT IS NOT WHAT MONETIZING THE DEBT IS! When the debt is monetized that is when people buy it.

The United States specifically desires to get our money overseas so that the foreign countries have a reason to keep the Dollar at value or increasing in value as opposed to their currencies.

The fact that the American Dollar keeps on going UP and UP and UP and UP in value is the end result. The same thing happens with the Japanese Yen. The more debt you put out there, the more the other countries of the world boost your currency.

If the interest load goes too high, we have to pay out money in interest. That is an actual net outflow from the US Treasury. To stop or limit that we just have to ask the FED to buy some of that debt back.

All of this is moot according to Joe Neubarth, because the value of the dollar is actually driven up because of our production. No country that is competitive with the United States wants our currency to go down in value against theirs, for the simple reason that it would make our products far cheaper then theirs. Thus we would outsell them on the world market and their economy would go to hell.

Those countries have a vested interest in keeping the American dollar going UP in value for two reasons then.

Neubarth is such a genius. Not one economist ever realized that before.