1069
the debt
(lemmy.world)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 07 Jun 2024
1069 points (100.0% liked)
Memes
48730 readers
1425 users here now
Rules:
- Be civil and nice.
- Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.
founded 5 years ago
MODERATORS
Then stop selling bonds and start investing directly (build schools, repair bridges, pay your employees, etc.).
Countries don't have to take the detour through state bonds because they can make money out of thin air. State bonds are a self-imposed and there's no law of nature that mandates using them.
Serious question? Money today is nothing more than a number in an account. When a country needs more of its own currency, it can increase it's account by that amount.
Okay, but even if the USA can't change the law regarding states bonds, it is virtually impossible that people stop buying US states bonds since the US Dollar is kinda like the most established currency in the world.
So your argument is completely theoretical.
I see what you mean, but this is not about having a strangle hold on the world or being the world's reserve currency. This is about having your own currency and collecting taxes in this currency. As long as a country collects taxes in its own currency there will be demand for that currency.
Sooooo it’s a self imposed limitation, just like u/sockenklaus said?
Why would that happen? There's no proof that printing money (while considering the boundaries of the real resources like available work force) automatically leads to hyperinflation.