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[–] 9 points 4 months ago (3 children)

The entire notion that an entity which possesses the sole authority to issue the currency in which its budgets and accounts are denominated, can in any way be legitimately in a level of ‘debt’ it in any way could be mistaken as problematic, is fundamentally detached from reality.

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  • [–] 10 points 4 months ago (1 child)

    The illusion of scarcity needs to be maintained. Dollars are only worth something because the entire world believes they're worth trading for good and services. The only reason the U.S. government collects taxes and "borrows" money is to maintain the illusion.

    If the US Government just conjured up trillions of dollars to pay it's debts, the world economy would collapse. So the Federal Reserve has to do it slowly via Quantitative Easing.

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  • [–] 2 points 4 months ago

    The status quo only serves to entrench the current power structures. Economics is just as imaginary as any other organised religion, and as an antitheist I’d prefer to live within a system which can legitimately be mapped to reality.

    The US congress already conjures every dollar out of thin air, it’s ‘debt’ is merely a poorly labelled finance construct, and the ‘deficit’ is merely the sum total of private sector account balances.

    Religion is the opiate of the people, economics is their fentanyl.

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