Monetary reformists

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Harry33Truman's picture
Monetary reformists

There is a growing movement generally preferred to as monetary reform, which you may or may not have heard of. Generally speaking, anyone who advocates a change in the way money works would be a monetary reformists, but this particular movement advocates what is called social credit, or the abandonment of our current debt money system, and instead advocates for debt free paper money issued by the Treasury.

The basic idea is Friedmanite monetarism, having the money supply grow at a set rate between 3-5% annually, and having this money be printed, then directly put into the Governments budget to spend. This could reduce the deficit, and allow us to cut taxes while paying off the debt.

It isn't even a very extreme idea- Abraham Lincoln commissioned the pro ting of over 13 million dollars to fund the Civil war, and they were still being printed and issued until 1971 with no issues. As a matter of fact, United States Notes were being issued for longer than Federal Reserve notes, 106 years as opposed to 104 years, and have been money for longer too.

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chimp3's picture
The value of a dollar should
Harry33Truman's picture
What? The value of the dollar
chimp3's picture
The amount of money in
Harry33Truman's picture
Yes, have it grow at a set
chimp3's picture
Why not just print enough
Harry33Truman's picture
That would destroy our
curious's picture
"This could reduce the
Harry33Truman's picture
Our GDP is 19.6 Trillion, and
mykcob4's picture
Again with Friedmanite. We
Harry33Truman's picture
Milton Friedman was only one
mykcob4's picture
No, Harry, the idea that the
Harry33Truman's picture
Did you not listen to a
Nyarlathotep's picture
Harry Truman - everyone from
Harry33Truman's picture
The Keynesian claim is that
Nyarlathotep's picture
Harry; do you even realize
mykcob4's picture
FDR didn't believe in
Harry33Truman's picture
Hoover tried raising taxes
mykcob4's picture
No Harry. FDR's policies
Harry33Truman's picture
Hoover increased the top tax
mykcob4's picture
Harry, you couldn't be more
Harry33Truman's picture
I think we've had a
mykcob4's picture
Harry, it wasn't a shortage
Harry33Truman's picture
The stock bubble, and the
curious's picture
"Our GDP is 19.6 Trillion,
demik's picture
Cryptocurrency is very
Kreston's picture
I agree with the previous
Nammarok's picture
Well what i can say is that
Bob44's picture
Although social credit may be
adamusa's picture
Although Friedman's
Ovemitte's picture
But this is called inflation,

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