03-15-2017, 04:31 AM
(03-14-2017, 06:24 PM)Kinser79 Wrote: Or perhaps, and this may sound crazy but it's been done before....since the treasury can issue notes bearing interest then surely they can also issue non-interest bearing notes of non-debt.
https://en.wikipedia.org/wiki/United_States_Note
While potentially radical and possibly subject to abuse it would solve the bill paying problem.
Fiat currency has always been subject to abuse which how the federal government got here. That said, in recent history the practice has been to borrow in the short term until the debt ceiling was raised. Its a bit like the fact that the Social Security Trust fund consists of non-negotiable Treasury Securities.
Democracy is the theory that the common people know what they want, and deserve to get it good and hard. -- H.L. Mencken
If one rejects laissez faire on account of man's fallibility and moral weakness, one must for the same reason also reject every kind of government action. -- Ludwig von Mises
If one rejects laissez faire on account of man's fallibility and moral weakness, one must for the same reason also reject every kind of government action. -- Ludwig von Mises