Donald Trump is struggling to clarify his recent statements about how, as president, he would reduce the U.S.’s debt without crippling the economy. In a May 5 interview with MSNBC, Trump said he would keep borrowing, but “if the economy crashed you could make a deal.” The New York real estate mogul and presumptive GOP nominee…
Trump knows how the debt works.
He also knows how to get people talking.
Today everyone is talking about our national debt.
Within a few years the interest payments on our national debt will exceed the amount we spend on defense. $650 billion.
That will make the IMF and the rest of the oligarchs, who own our debt, very happy.
Look out Greece here we come!
He’s talking Modern Monetary Theory (MMT). Look it up. Greece is in trouble because its currency comes in a form that it doesn’t control. We control our currency.
The value of money isn’t infinite.
The more you print the less value it has.
Just ask the post-WWI Germans who needed wheelbarrows full of cash just to buy a single loaf of bread.
The issue here is who owns our national debt?
Or put more simply, who owns our labor?
We (the 99%) work and the oligarchs skim the vig up front.
Ever try to repay a bookie?
Think about what Trump is saying in those terms.
The Federal Reserve Bank [a collection of private bankers] owns the majority of our debt, AND they control our currency. The US Treasury doesn’t print money, they authorize and sell Treasury Bills, which carry interest, like savings bonds. Most of the T-bills are purchased by the Federal Reserve. Purchased with what? Federal Reserve Notes. So, all of our money is loaned into existence, and carries interest from Day One.