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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: JF Quinnelly who wrote (7806)8/17/1999 11:45:00 AM
From: Investor2   of 15132
 
Re: "$1,000 in cash is exchanged for every $1,000 bond retired. The monetary base stays exactly the same as it started. It is just the mix of cash versus debt that has changed."

Let's put it this way: $3,000 of taxes are collected (taken out of the checking accounts of working Americans and therefore taken out of the "money supply"), of which $2,000 is paid to the government employees (less payroll taxes, if any, returned to the "money supply") and $1,000 is returned to the person who lent the government the money when he purchased the $1,000 T-Bond.

Best wishes,

I2

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