1971: The Beginning of the End--Massive Monetary Disorder
gulfcoastcommentary.substack.com
In 1970, US debt was $275 Billion. It took 188 years to achieve that. Now, the US is selling that amount of debt every month, or even in a week! Worse, it's just recently selling most of it to the US Federal Reserve (another part of the government). That's called debt monetisation and is the stuff of the Weimar Republic except all these money transactions are only electronic accounting transactions that create bank reserves rather than issuing paper money.
1971: The Beginning of the End--Massive Monetary Disorder
1971: The Beginning of the End--Massive…
1971: The Beginning of the End--Massive Monetary Disorder
In 1970, US debt was $275 Billion. It took 188 years to achieve that. Now, the US is selling that amount of debt every month, or even in a week! Worse, it's just recently selling most of it to the US Federal Reserve (another part of the government). That's called debt monetisation and is the stuff of the Weimar Republic except all these money transactions are only electronic accounting transactions that create bank reserves rather than issuing paper money.