
What if the government prints money to pay the national debt? - thiagoharry
http://www.realprogressivesusa.com/news/economic-issues/2017-01-26-what-if-the-government-prints-money-to-pay-the-national-debt
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BillBohan
I disagree with this article. My first point of disagreement came when you had
the government print $100 quadrillion and lock it away. You claim that the
value of M in your equation changed. It did not. M is the money supply IN
CIRCULATION. Currency locked away like this is not in circulation. M is
unchanged. My next point of disagreement came when you said that neither
buying or selling Treasury notes increased your wealth. It is true that buying
a $100 Treasury note does not change your wealth but when you sell your
matured note for $125 it certainly seems to me that $125 is more than $100.
Your argument favoring the government printing money to pay the debt brings to
mind the idea of the government printing $330 trillion dollars and sending $1
million to every man, woman, and child. Suddenly we're a nation of
millionaires. Nobody lives in poverty any more. (It won't work.) The reason is
left as an exercise for the reader. I think that faulty economic reasoning may
be the reason we have the situation we are in:
[http://www.usdebtclock.org/](http://www.usdebtclock.org/)

