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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTim Canova: Let other entities issue currency
Dissent Magazine:It would also be worthwhile to break the monopoly of central banks in the issuance of currency by funding some government operations with money created and issued by treasuries and finance ministriesmoney that would not add a penny to public debt. This is what President Abraham Lincoln did by issuing more than $400 million in U.S. notes, the so-called Greenback, to pay the huge costs of the American Civil War and national economic development programs. A century earlier, colonial Pennsylvania enjoyed fifty-two years of non-inflationary growth by issuing and lending its own currency into circulation, thereby financing major development of infrastructure without incurring debt or high tax burdens. Adam Smith, in his classic work Wealth of Nations (1776), praised Pennsylvanias success with government-issued money. Such proposals have been introduced in Congress over the years, but Wall Street lobbying has prevented such legislation from passing.
I'm not sure this is the new vision voters in DWS' district are waiting for...
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Tim Canova: Let other entities issue currency (Original Post)
brooklynite
May 2016
OP
Well, at least you are unequivocally clear, with this post, about your support for Wall St.
villager
May 2016
#1
Nice dodge -- doesn't change your sympathies. "but Wall Street lobbying has prevented
villager
May 2016
#6
Are you saying the professor is too much of an intellectual for Florida voters? (nt)
muriel_volestrangler
May 2016
#3
villager
(26,001 posts)1. Well, at least you are unequivocally clear, with this post, about your support for Wall St.
...and banking monopolies.
brooklynite
(94,598 posts)2. None of the Wall Street banks issue currency...
...if you want to sign on to a Federal Reserve conspiracy theory, there's a welcome audience at FR...
villager
(26,001 posts)6. Nice dodge -- doesn't change your sympathies. "but Wall Street lobbying has prevented
..such legislation from passing."
Even you know that means, conceptually, and what it's saying about the top-down economy you adore.
muriel_volestrangler
(101,321 posts)3. Are you saying the professor is too much of an intellectual for Florida voters? (nt)
1939
(1,683 posts)4. Printing your way out of trouble doesn't work.
By the end of the Civil War, you could get ten US paper dollars for a silver dollar. Look what happened to the Confederate currency during the war when they were printing them according to need. Go back to the American Revolution when the American rebels were printing money (does the phrase "not worth a Continental dollar" register?). We also have the examples of our many neighbors to the south and Weimar Germany in printing money as needed.
cali
(114,904 posts)5. If anyone wants to know more about Dirty Debbie's challenger:
Omaha Steve
(99,660 posts)7. FIRE DWS! Donate to Democratic Underground for Tim Canova FL-23 here
Well the DU seems to love him.
Donate to Democratic Underground for Tim Canova FL-23 here: https://secure.actblue.com/contribute/page/du4timcanova