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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: Gersh Avery who wrote (55017)	8/9/2011 6:10:29 PM
From: John	Read Replies (1) \| Respond to of 103300

Gersh wrote: The federal reserve should just pay off the national debt in cash and then dissolve. Gersh, if you owned a business where you could (a) replicate the likenesses of some famous buildings and historical figures on a piece of paper, (b) inscribe a few inspirational sayings beneath the images, (c) reproduce trillions and trillions of them (and even more at will), and (d) have virtually everyone on Earth devoting nearly every waking moment to possessing just a few of those pieces of paper, thus making you the most powerful, catered-to, and fawned-over man in the world, would you "just pay off the national debt in cash and then dissolve". No? I didn't think so. -vbg-

To: Gersh Avery who wrote (55017)	8/9/2011 9:13:15 PM
From: DuckTapeSunroof	Read Replies (1) \| Respond to of 103300

Re: "The federal reserve should just pay off the national debt in cash and then dissolve. The influx of cash would reduce the value of the dollar. A one time tax that would leave the US debt free." I have heard that suggestion before. <GGG> (Wouldn't China and Japan and the Saudis be pissed!) Also, unfortunately, anyone ELSE who holds Treasury obligations... Americans, American companies, Canadians, etc., etc. And, if it were ever done, prepare for the instant era of the hundred dollar hamburger and hundred and fifty dollar gas....