Midya's Weblog

Joshua Holland thinks that minting coins is the solution to our debt problem

Joshua Holland thinks that a solution to the debt is the treasury minting coins and then paying our debt with them. He thinks this wouldn’t add to inflation. “This process doesn’t change actual government spending, so doing it this way doesn’t add to inflation, nor does it change the fact that govt deficit spending adds income and net financial assets to the other, non government sectors. It’s just that the new financial assets will simply be new reserve balances at the Fed, rather than new Treasury securities (which are also simply accounts at the Fed),” says Holland.  This made the front page of alternet.org today…for some reason.

There’s a Solution to the Debt Fight That Could Avert Catastrophe — Why Is Everyone Ignoring It?

http://www.alternet.org/news/151718/there%27s_a_solution_to_the_debt_fight_that_could_avert_catastrophe_–_why_is_everyone_ignoring_it/

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This entry was posted on July 22, 2011 by in Uncategorized.
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