Still Report #875 - Donald Trump - Why Borrow When We Can Print? Economic Deficient Solution
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Visit our website now: http://www.billstill.com Still Report #875 - Donald Trump - Why Borrow When We Can Print? Economic Deficient Solution Last Monday, Donald Trump went on CNN and said the most forbidden words in the language of American economics: “You never have to default because you [can] print the money.” You notice I put “can” in brackets which means he didn’t say that, exactly, but he meant to say it. But now let’s hear exactly what he did say: [insert CNN] It’s true; for a nation which has retained the money power as an essential ingredient to its sovereignty, default is never necessary. That’s one of the main problems with the EU and its Euro. Nation states completely lose the power over controlling their money. However, to an American-trained economist – printing money is the worst of heretical notions. Why? Because they believe that it will surely lead to hyperinflation – Zimbabwe – scenarios. However, according to my friend, Prof. Steve Hanke of Johns Hopkins University, there have been less than 50 hyperinflations in world history, yet hundreds of incidences of deflations – better known as depressions. Hyperinflations are the rare exception in economic history, never the rule. At the root of this argument is who should control the quantity of money in a sovereign nation. There are only two alternatives: #1 the sovereign nation state, or #2 the banks. The truth about our economy is 97% of the U.S. money supply is created by banks – only 3% is actually created by the government. How do banks create money? When a bank makes a loan they only have 10% of the money, the rest they have the legal right to just simply make up out of thin air – and then charge us interest on it! However, the U.S. Constitution only gives the money power to the people, through their elected representatives in Congress. In fact, so basic is the power to control the nation’s money, that it was the primary reason America fought for its freedom against the British – for the freedom to create its own money. So why should we even allow a national debt? We shouldn’t – in fact no government that claims to be sovereign should allow it. Why should a government borrow money from banks when it has a duty to create it without the interest - or control - that borrowing brings? Do you know how much interest we pay on the national debt today? It’s about 450 billion dollars a year. This is insanity! This entire national debt crisis is a total flim-flam job perpetrated on the American people to keep this steady stream of debt income flowing to the banks – the biggest of all big corporations. So, simply by using the phrase “we can print our money”, Trump is letting the cat out of the bag that there is another way to get out of this economic mess that not only America is in, but virtually every other nation as well. The good news for President Trump is there are many good alternatives for ending the national debt – which is the essential first step in preventing a future economic collapse. My old friend Ellen Brown summarized several alternatives in an article she published last week – probably her most succinct and impactful article to date. http://www.truthdig.com/report/item/print_the_money_trumps_reckless_proposal_echoes_franklin_and_lincoln_201605 I won’t step on her article by rephrasing it, but I will add another solution that I believe gives us the most bang for our buck while minimizing the risk of upsetting economic systems and markets, which traditionally hate uncertainty. I say pay down the National Debt using America’s oldest form of paper money, U.S. Notes – as opposed to Federal Reserve Notes. U.S. Notes came into being at the hands of Abraham Lincoln to allow him to win the civil war. It was money issued by the government for the benefit of all, as opposed to Bank Note money - issued by the banks, which only benefit the banking corporations. These red-sealed dollar bills are still a valid form of currency in the United States. However, since no new notes have been issued since 1971, they are increasingly rare to find in circulation. So, the solution to America’s debt problem is very simple, reissue U.S. notes and pay off the National Debt. However flooding the market with 20 trillion dollars worth of U.S. Notes would be inflationary. So guess what? We won’t do it the stupid way. We’ll do it the smart way – gradually introduce them as the debt comes due over a period of years. Fortunately for Mr. Trump the vast majority of our national debt comes due in less than 8 years – two terms of the presidency. Approximately 54% of this debt must be paid in 3 years or less. Connect with Bill Still: https://www.facebook.com/BillStillOfficial https://twitter.com/billstill?lang=en https://plus.google.com/u/0/109353617116072656672 Consider becoming a sponsor: https://www.patreon.com/user?u=3204630 https://youtu.be/8Nvt13FFiYk
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I'm pretty sure in the U.S. constitution the Founding Fathers wrote only Gold and Silver will be used as the nation's money... Government printed money versus central bank printed money is like switching from Fascism which we have write now to Communism. WTF !? How about a third option.. FREE MARKETS and honest money, not in the control of BANKERS or POLITICIANS.)
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This deserves the most views of the recent group of your videos. I hope people understand what is said here!!
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The whole hyper inflation scenario due to a government printing money is nonsense. Lets say a country needs $10 billion - they can either borrow or print the money themselves....The net result is still $10 billion received by them but by borrowing they have to pay interest which will mean a debt and is obviously much less beneficial than printing their own money. Simple really.
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Today! Gold and silver cannot be used as money or to back up money. Unlike at the time of the Constitution gold and silver today are fiat and their value easily control by supply and demand. Their value fluctuates to the extremes at the command of those who stock pile it.
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We should not pay the national debt - we should collect it. The bank criminals swindled the American people. The money was invested in creating a corporate monopoly the banks control. We issue Letters of Mark and Reprisal and via the courts recover OUR assets when private military and executive infiltration regains control over their assets.
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Keep your fingers crossed. We might be getting somewhere?
Trump/Paul -
Is this guy keynesian? If you print money out of thin air as much as you want you devalue the currency, and it buys less, it creates inflation, you increase the supply of something, you devalue it, everything will cost more and your money will buy very little, just like in Venezuela where they run the printing presses all day all night. How can you possible think you can pay your debt by printing paper money that are not backed by anything? Those paper money will have no value. Why don't you just print yourself 1 million dollars then? Because they are worthless paper money unless they are backed by something, the more you print the more you devalue the dollar which means it buys less and less, when you increase the supply of something you make it less valuable. Also the idea that Trump has any idea of what you're talking about is hysterical, in fact he did meant to say he intends to default and make a deal on 50 cent on the dollar, he then retracted that when he realized the implications on his campaign. Its better to default now and still retain some value of the dollar than to keep printing worthless paper money and devalue later when the dollar will have lost all its value.
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Trump has to be more educated about the federal reserve. You should sit trump down and teach him this. But this is what got Kennedy killed. They would be after Trump. too.
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Bill and do away with Fed Reserve System so no new debt would be created when money is printed so no more debt and to central banks which are owned by One World Order last president to stop them was Jackson
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The money system is set up the way it is to empower a select few and "we the people" are slaved with debt. The last president to try to change this got assassinated smh very sad.
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Fear of printing money on the premise that it might lead to hyperinflation is only a fear when it is thought that the people might get a hold of the money. All the Quantitative Easing that the Fed (no relation to Federal Government) did should have lead to significant inflation as the Fed dumped over a trillion dollars a year into the economy. Inflation was negligible as the money went to the false economy called "the Stock Market". And lets not forget "TARP" in 2008. The Troubled Asset Relief Program, better known as the Treasury Assisted Robbery Plan also threw a tidy trillion into the works, which was stolen from the taxpayers and handed to the banksters.....not inflationary. Inflation just like every other economic condition is a creature of the bank and as such is manipulated. This should be obvious to everybody by now as you have been porked over and over. Wise up before it's to late. You have very little time left. They have bullshitted you and now your at the chopping block.
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Lookin' good, Mr. Still. Maybe it's your lighting, but you look fuller and more alive, sir.
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Printing is better than borrowing. Balancing the budget and shrinking the government is what is really needed
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Best Still report yet! Now this is the real deal! Thank you Bill. :)
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As long as we can get away from the Federal Reserve and its usury, all will be well.
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Since money today is nothing more than numbers on a screen, its even easier to switch over to government issued money. The government forces the banks to switch all accounts over to US government dollars...so in essence, nothing changes for anyone, except the bankers. If the bank folds, all accounts should be given their equivalent deposits in US government dollars, either in cash or in digits at their new bank. It would be at this point most people would move their money over to smaller banks and credit unions and all the major evil banks would implode. Super simple.
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Bill, you really presented this in a very clear way. I think a presentation by you on corporations using bankruptcy as a way to socialize losses (a form of corporate welfare) while always privatizing profits is needed. Perhaps you could present this issue in a very clear way also. When it is practiced it hurts the ideals of competitive capitalism. This would be especially helpful as it relates to how the big banks/Federal Reserve use similar methods by expanding credit/debt and printing currency through the Treasury Department. They would surely fail, if such a monopoly which they have been allowed to have didn't exist.
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Money needs something to back it up, like gold & silver, not tungsten as in Ft. Knox. Other countries won't take wall paper. Hope we find some real ore soon.
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