Why can't the treasury just mint

[CJCRANE]

18 trillion dollar coins and pay off the debt?



Okay, so there would be several thousand very angry bankers, but on the other hand there would be over 300 million very grateful Americans.

[Hoyt]

1. Know anyone on a fixed income that lived through the late 1970s, early 1980s?

-- Or, low to medium income with no investments like a house.

[hack89]

2. Lets use Zimbabwe as our example - that's basically what they tried to do.

hyperinflation and the resultant destruction of every American's wealth would be the most likely outcome. I don't think all those American's will be that happy.

[OnlinePoker]

3. Since DU claims the top 1% of 1% own most of the wealth, what would be the downside? n/t

[CJCRANE]

4. But we're told that's why we can't have nice things...

because we have to pay off the debt.

[hack89]

5. So?

Not paying it will be worse.

[CJCRANE]

6. Where does the money go?

Who gets it and what do they do with it?

[hack89]

7. What money are you talking about? nt

[CJCRANE]

8. The money that goes to pay the debt.

Who to and where does it actually go?

I'm not asking you specifically (unless you know), I'm just thinking aloud, trying to figure out how it all works and who ends up with the money.

[hack89]

9. It goes to people like me - anyone that buys US Treasury Bonds

individuals; local, state and union pension funds; towns and cities; other countries; etc etc .. the list is a long one.

[wildbilln864]

10. the government borrows money from the fed at interest instead of minting and valuating it itself.

n/t

[PoliticAverse]

11. Note that wasn't always the case, the Government has issued currency directly

in the past, see: https://en.wikipedia.org/wiki/United_States_Note

[wildbilln864]

12. Yes indeed and that's how it should be done today! n/t