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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: JF Quinnelly who wrote (7725)1/2/2003 1:54:36 AM
From: MSIRead Replies (1) of 306849
 
So you are saying without such convertibility no money can be created by the gov't, it must be bonds or notes of some kind. I take it you also say the Fed system, owned and managed by the banks, do not accrue unfair profit or influence to private banks?

That's tricky. It would seem that a note from the gov't is guaranteed by the gov't, whether it produces interest or not. If Japan can issue zero-interest notes, that seems to prove the point that no interest need be accrued.

If so, that's a huge difference in gov't budget burden, and economy, if we eliminate interest on new money-creation, remove the gov't from competing in the bond market, and cut the debt cost of gov't. The banks and brokers wouldn't like it, but the people would.
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