Nathan Becker 🇺🇸 Profile picture
Feb 15, 2018 7 tweets 2 min read Twitter logo Read on Twitter
The U.S. federal government always spends dollars it doesn’t have, simply because, being Monetarily Sovereign, it creates dollars, ad hoc, by spending dollars. Spending, or more specifically, paying bills is the federal government’s money-creation method.
(Anyone who believes the government spends dollars it has, is welcome to tell us how many dollars the U.S. Treasury has. You might be surprised at not being able to find an answer. But why would a government need to have dollars, if it can create dollars, endlessly?)
What will it take for the American public to understand that the federal debt is nothing more than deposits in T-security accounts?These accounts are quite similar to bank savings accounts, that easily are paid off simply by returning dollars residing in those T-security accounts
What will it take for the public to understand that a federal deficit is income for the economy, and the greater the deficit the more income benefits the economy?
What will it take for the public to understand that the lack of deficit spending leads to recessions and depressions and increased deficit spending cures recessions and depressions?
What will it take for the public to understand that the politicians, media, and economists have been paid by the rich to tell “The Big Lie,“ (that federal Govt can run short of its own sovereign currency), so that social benefits like Social Security, Medicare etc can be cut?
How much evidence is necessary for the public finally to realize that the federal government has absolute control over the value of the dollar, so can cause or cure inflation at will?

Really, at long last, what will it take?

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More from @netbacker

Jul 7, 2018
There are two ways to create dollars and two ways to destroy dollars:

Create Dollars:

I. Lend dollars
II. Federal deficit spending

Destroy Dollars:

I. Pay off a loan
II. Federal taxation…
Lending creates dollars. When a loan is supported by a loan document owned by the lender, the loan document is money. Like a dollar bill, it represents dollars owned by the lender, while the borrower receives new dollars. That is the difference between a loan and a payment.
Though both are transfers of dollars, loans create new dollars, payments do not.
Read 7 tweets
Mar 11, 2018
Yet another article that relies on you being ignorant about federal finances and Social Security…
Let us begin with three, very simple, related facts:

1. It is 100% impossible for the U.S. federal government to run short of dollars unless the President and Congress want it to.
2. Thus, it is 100% impossible for any federal agency to run short of dollars unless the President and Congress want it to.
3. Social Security is a federal agency.
Read 7 tweets

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