by Summary:
My friend and really educated guy, Robert Hormats, just blew my mind.
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Mike Norman considers the following as important:
This could be interesting, too:
My friend and really educated guy, Robert Hormats, just blew my mind.
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
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| My friend and really educated guy, Robert Hormats, just blew my mind. |
I have a suggestion. Instead of a US Debt, can we call it "US Government Depository System" or "US Treasury Depository System"?
Keep it up Mike, please!
Sadly most of the public (95%) actually believes the USA is using a VISA card issued by China. 😢
Love you too, idiot .!!!
Paying back the debt just means buying back the bonds. There's nothing to prevent the government from creating his much money as it wants and pay to someone
To go on about the national debt is some serious stupidity. It is dueling banjo's cousin f**** level stupidity.
It would be good if you could get Robert on the show to talk about these concepts.
Sorry, what the HELL are you talking about?! Principal and interest is retuned to buyers of US treasuries on expiration. They are treasury sheet LIABILITIES. That’s pretty basic.
In reality, yeah the debt is already (never) paid because the USG can and always issues more cumulative debt. God bless the grandest Ponzi on Earth 🇺🇸 🇺🇸 🇺🇸
The "national debt" is literally the money supply. The only way to reduce the money supply is taxes
@Warren Peace Why should the money supply be reduced by taxes? The govt owns then owns the money and can spend it.
@Heino Der Sänger Mosler on African Hut Tax https://youtu.be/s-3-YSZNezQ
The common misconception is that the government sells US treasuries in order to borrow money. That's wrong. The reality is that it does that in order to decrease the cash reserves of banks. Conversely, when the government wants to increase the cash reserves, it buys treasuries (what's known as quantitative easing). In other words, treasuries are a tool to control the money supply in the economy. Read The Deficit Myth by Stephanie Kelton and it will all become clear.
❤👁
Incredible video
Get your friend Robert on the show.
This is what works for me when talking to people:
How can a government borrow its own coin,
if it hasn’t spent out its own coin in the first place?
How can a government collect a tax in its own coin,
if it hasn’t spent out its own coin in the first place?
If they then say the coin comes from the bank, then I respond with, well why does a bank need a bailout? Why do banks fail?
Could you explain what "Discount on New Issues" for Bills vs Bonds and Notes are? The value is massive this year, at $126b, compared with only $37b $in 2022 and $28b in 2021. What's the difference between bills, treasuries and notes? Who gets the discount, and why?
Fantastic content
Adam and Eve have yet to repay their debt.
Evidence that this guy doesn't have to be in touch with reality, to be successful.
Another thought…When a Foreign country cashes in its USA held securities from trade does that go on the Books as debt 🤔
It is most alarming when those who ought to know how to account for money being SPENT by a DEBIT entry describing the account of the Payee & the Payee name or item purchased or both name & item & they don't know
It is most alarming when those who ought to know how money is first accounted for by a CREDIT entry into the account for which it was first established (or created) for circulation by Congressional Appropriation , namely , the USA-TSY but they don't know
It is most alarming when those who ought to know double entry bookkeeping & ought to know how money moves from one account to another but they don't know
Trying to wrap my mind around this Mike, maybe someone can correct me? Wally world has dollars- pays Chinese co for toys- Chinese co deposits those dollars in a bank in exchange for Renminbi- Chinese bank gives dollars to central bank of China for Renminbi. Central bank of China has nothing else to buy in USA, so buys UST- those dollars now go to US Gov. to waste on F-35's. How is that not a debt to China?