Saturday, February 11, 2017

Warren Mosler Proposes ‘Mosler Bonds’ To GVI As First Step To End Territory’s Financial Crisis

“I have made the proposal to the USVI government that Mosler bonds be issued and sold as a necessary first step to end our financial crisis,” Mr. Mosler said. 
The candidate described the bonds as being identical to the territory’s current tax-free municipal bonds, with one exception: With Mosler bonds, the standard default clause in the bond indenture that begins with “In the event of default”, is replaced with, “In the event of nonpayment this bond becomes a USVI tax credit that is freely transferable and continues to accrue interest, and can be used for payment of any and all taxes due to the USVI.”...
Virgin Island Consortium
Warren Mosler Proposes ‘Mosler Bonds’ To GVI As First Step To End Territory’s Financial Crisis

1 comment:

Matt Franko said...

Alternate form of securitization from a muni... similar to what Ross is proposing for Trump's infrastructure as alternative securitization from a UST security...

We have to do something to get around the current intransigent deficit morons....