why I like govenment debt

[jdrtx]

Originally Posted by gwynedd1

I have seen numbers of total US debt being around 55 Trillion or so. I wonder if anyone has an official number? That is government, business and consumer debt combined. I also understand that about 10 trillion is the national debt. That means about 45 trillion is fractional reserve debt at interest to banks.
The only time I do mind government debt is how they make it. I would be thrilled if 45 trillion were passed out to tax payers and then some over a little transition time.
As this is done of course I would be raising the reserve requirements of banks until it reached 100%. If banks won't loan money into existence no problem I will print it interest free.
The reason why I like government debt is because its not debt. Treasuries masquerade as debt but they are essentially a now redundant layer of abstraction since US securities back dollars and nothing else. Should we be running dollars through a paper shredder anymore than printing too many? Only when the Fed sells bonds is real debt actually created. Now if 55 trillion in buying power exists I would certainly prefer 55 trillion in defacto treasury notes then pay interest on 45 trillion and be at the whim of banks who were too stupid to loan too much before and could not care less if we die on the vine now while they run to the Fed. I say lets rack up the debt by putting the cash into the hands of tax payers while keeping the actually money supply stable.
This flick of the pen will starve the banks and not us who can really pay for this mess and we can then nationalize some of their basic functions, convert federal reserves to actual treasuries, and go with simple time deposits or demand deposits that must stay put and never have a rabid animal of an unstable money supply ever again. I have had enough of this banker plutocracy.

Please explain to me how banks can loan money that they do not have.
Also, how can I get into a scheme like this? At least without getting a beat down.

JD out

[hindsight2020]

Originally Posted by jdrtx

Please explain to me how banks can loan money that they do not have.
Also, how can I get into a scheme like this? At least without getting a beat down.

JD out

You're kidding right? Ever heard of fractional reserve banking? You know, the economic structure of that piece of paper you have in your wallet. Recommend you watch the video "Money as Debt".

How can you get in on the scheme? Short answer, you can't, you don't belong to the banking plutocracy, you're a mere proletariat pawn, oh and welcome to the Natrix Neo, the red pill is a b$tch I know.