Ron Mauer Sr
1st March 2016, 00:14
Could a few trillion dollar coins minted by the U.S. Treasury be used to pay off the national debt? The U.S. Treasury may be able to create these coins without demanding interest from the tax payers.
If I remember correctly, this was a proposal made by Lt. Colonel "Bo" Gritz when he was the Libertarian candidate for Vice President a few years ago.
Why would any sovereign government borrow money from a privately owned bank (Federal Reserve) in business for making a profit?
Could this be set up so taxpayers would only need to pay back the principle of the national debt but not interest? Why would a sovereign nation charge itself interest?
Imagine the increase of a sovereign nation's prosperity without the burden of usury.
When conducting international trade, settlement would need to be with precious metals to protect the value another country's currency from being diluted by another nation that was not on a precious metal standard.
Just brainstorming. I love simplicity. Maybe there has not been enough discussion of potential solutions to paying interest on money that was created out of nothing by a profitable central bank.
This would be a non-issue if the privately owned central bank was audited each year and recycled the interest payments, less operating expenses, back into the nations treasury. And of course the central bank should not be allowed to send money to other countries without the permission and oversight of Congress and auditors.
If I remember correctly, this was a proposal made by Lt. Colonel "Bo" Gritz when he was the Libertarian candidate for Vice President a few years ago.
Why would any sovereign government borrow money from a privately owned bank (Federal Reserve) in business for making a profit?
Could this be set up so taxpayers would only need to pay back the principle of the national debt but not interest? Why would a sovereign nation charge itself interest?
Imagine the increase of a sovereign nation's prosperity without the burden of usury.
When conducting international trade, settlement would need to be with precious metals to protect the value another country's currency from being diluted by another nation that was not on a precious metal standard.
Just brainstorming. I love simplicity. Maybe there has not been enough discussion of potential solutions to paying interest on money that was created out of nothing by a profitable central bank.
This would be a non-issue if the privately owned central bank was audited each year and recycled the interest payments, less operating expenses, back into the nations treasury. And of course the central bank should not be allowed to send money to other countries without the permission and oversight of Congress and auditors.