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That was Ron Paul's idea, too. Just have the Fed destroy the Treasuries it holds. It's got no need for them and they shouldn't be counted as part of the debt.
Who's going to have them do it? That would require Congressional action, which will not be forthcoming. Proof Platinum Coin Seigniorage is better, because Congress has already legislated that. It would only take our President to use it.
That was Ron Paul's idea, too. Just have the Fed destroy the Treasuries it holds. It's got no need for them and they shouldn't be counted as part of the debt.
ReplyDeleteGreat point Ralph and Mike.
ReplyDeleteWho's going to have them do it? That would require Congressional action, which will not be forthcoming. Proof Platinum Coin Seigniorage is better, because Congress has already legislated that. It would only take our President to use it.
ReplyDelete