Thursday, February 23, 2012

Ralph Musgrave's letter in The Financial Times


Read it at The Financial Times | Letters
Bigger deficits do not always mean more debt (part 2)
From Mr Ralph Musgrave
(h/t Ralph via email)

3 comments:

Mike Norman said...

That was Ron Paul's idea, too. Just have the Fed destroy the Treasuries it holds. It's got no need for them and they shouldn't be counted as part of the debt.

Dan Kervick said...

Great point Ralph and Mike.

Letsgetitdone said...

Who's going to have them do it? That would require Congressional action, which will not be forthcoming. Proof Platinum Coin Seigniorage is better, because Congress has already legislated that. It would only take our President to use it.