Thursday, December 13, 2018

so, no - you can't print money to pay off the debt.

you print money to create the debt; you destroy money to pay off the debt.

the problem is really in the language we use. what we call "government debt" isn't actually debt in the way that people understand it, but when we use the language we use, we create a broad misunderstanding around it. i've brought this up repeatedly in the past - we should be talking about creating and destroying money, not borrowing and repaying debt. by using the language we use, all we're doing is confusing ourselves.