A Debt thought with a short term fix.

See, the gold held by the U.S. Treasury is still officially valued at a $42.22 an ounce, a relic of the 1970s. Yellen could ring up Fed chair Powell today and revalue it at the spot price of $2,012.

That would pull $550 billion of new spending power out of thin air — without issuing any debt.

#DebtCeiling #gold #GrowNOSTR

Reply to this note

Please Login to reply.

Discussion

That would make a gold peg, which would destroy the fantasy of MMT. The fiction of a trillion lollar coin (metal value $1100) would be destroyed, too. HFSP! Do it!