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Economics professor L. Randall Wray, a Bard College professor who has championed Modern Money Theory, which de-emphasizes the drawbacks of debt, said the special coin is no wackier than other expansionary financial maneuvers enacted by the Federal Reserve during the pandemic that have involved hundreds of billions of dollars of public and private debt.“It is a work around,” Wray said. “It sort of makes it obvious that the debt limit itself is a pretty stupid idea.”...Wray and others note that massive infusions of liquidity by the Federal Reserve in the wake of the 2008 crisis did not spur inflation….France 24'Wacky' or serious? Trillion-dollar coin eyed as workaround to US debt impasseAlsoRaw StoryCould a trillion-dollar coin stop the GOP from plunging America into recession?AFPDeccan
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Economics professor L. Randall Wray, a Bard College professor who has championed Modern Money Theory, which de-emphasizes the drawbacks of debt, said the special coin is no wackier than other expansionary financial maneuvers enacted by the Federal Reserve during the pandemic that have involved hundreds of billions of dollars of public and private debt.“It is a work around,” Wray said. “It sort of makes it obvious that the debt limit itself is a pretty stupid idea.”...Wray and others note that massive infusions of liquidity by the Federal Reserve in the wake of the 2008 crisis did not spur inflation….France 24'Wacky' or serious? Trillion-dollar coin eyed as workaround to US debt impasseAlsoRaw StoryCould a trillion-dollar coin stop the GOP from plunging America into recession?AFPDeccan
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Economics professor L. Randall Wray, a Bard College professor who has championed Modern Money Theory, which de-emphasizes the drawbacks of debt, said the special coin is no wackier than other expansionary financial maneuvers enacted by the Federal Reserve during the pandemic that have involved hundreds of billions of dollars of public and private debt.“It is a work around,” Wray said. “It sort of makes it obvious that the debt limit itself is a pretty stupid idea.”...
Wray and others note that massive infusions of liquidity by the Federal Reserve in the wake of the 2008 crisis did not spur inflation….
Also
Could a trillion-dollar coin stop the GOP from plunging America into recession?
AFP
Trillion-dollar coin? US eyes solution to budget impasse