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Politics : Politics for Pros- moderated
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To: Maurice Winn who wrote (524019)11/22/2012 3:21:55 PM
From: skinowski1 Recommendation  Read Replies (1) of 793986
 
At a stroke, the USA aka We the People takes over the Federal Reserve and the ability to self-issue money, and dilutes all debt by a factor of 10, or 20, or maybe 100. That is quite doable and likely

I doubt that the US Congress would do that. It would be much easier to have the Federal Reserve simply "forgive" what is "owed" to it.

That would be neat - the sun would come up the next morning, and everyone would breath easier -- the debt will be gone. Hundreds of billions will be diverted to other politically profitable goals - rather than to pay interest.

Maybe someone would like to speculate what would be the consequences to the value of the Dollar - and the value of the remaining outstanding T-bonds. I'm not sure. But, IMO, our politicians would prefer something like this - it would have a much nicer ring to it. Debt forgiveness can be sweet - and bipartisan.
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