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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Hawkmoon who wrote (3029)	2/27/2001 3:34:15 AM
From: paul ross	Read Replies (1) of 3536

Ever wondered why we must issue interest bearing debt? Why not just issue a note (a la US notes of the 1860's and for a short time the early 1960's) backed by the US govt. and spend it right into circulation. Interest is a substantial portion of the Federal Budget deficit, this problem would be eliminated. It would knock the hell out of the govt bond market, but it would free up capital for business. It would solve the problem of the US taxation system and the IRS, for every dollar would in effect be "taxed" as it entered circulation...

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