Congress writes the budget and prints money

[WinstonSmith00]

Constitutionally speaking congress has these powers. Why doesnt congress just print the money it needs for the budget? There would be no need for taxes and no need for national debt. And the more congress spends the more economic stimulus would occur.

[Javaman]

1. do you want to pay $100 for a loaf of bread? nt

[WinstonSmith00]

5. not at all

The government is the largest corporation in the world it has the power to negotiate price and it purchases everything we purchase. Competition and demand would keep prices low. If you over price something demand drops The value of our money is intrinsic to the person.

[Javaman]

22. that's an incredibly simplistic view of how the economy runs, but hey knock yourself out.

[unblock]

2. in a nutshell, the relative stability of the dollar depends on them not simply "printing money".

if people felt the government was treating the dollar like monopoly money, it would quickly become worthless.

[WinstonSmith00]

6. It already is monopoly money

You are talkng trillions of dollars in debt and billionaires with so much that our money supply has grown expodentially to inflation.

[unblock]

8. uh, yeah, except, no.

if you're trying to push some kind of point here, you clearly don't know what you're talking about.

if your line of question is sincere, please read up on money creation, money supply, inflation, etc.

[WinstonSmith00]

16. I understand the theories and concepts

But there is nothing proven in economics.

Money supply and inflation dont not correlate.

My point is our government does not need to tax and incurr debt to have money because it has the power to print the money.

Truly the national debt is a scam to take from the people to make the rich richer.

[unblock]

19. they do indeed correlate, though there are isolated exceptions

moreover, the *perception* of stable management of a currency is very important to the actual stability of the currency.

few things could cause holders of a currency to lose confidence in it more than the government simply "printing money" to cover all its expenditure.

moreover, how would we then regulate the budget? if congress could just print money to cover it, and the money supply is not an issue, what's to discourage congress from spending trillions of dollars per capita?

[WinstonSmith00]

31. Trillions of dollars per capita

Is what it spends if we include the debt congress continously runs up.

And its exactly what we need Goverment spending without debt in my hypothesis Government spending would drive the entire economy and we as a people would have no limit on what we could achieve truly reshape our entire economy end hunger and homelessness and give people a universal basic income.

And there is so much to be done we are talking jobs jobs jobs. And all the menial work will go to AI as is the trend already. Fewer work hours more pay and more time for self reflection and improvement.

[Caliman73]

3. Is this a serious question?

Basic economics suggests that it would be a very bad idea to "just print money" mainly due to hyperinflation. It might work if targeted correctly but it is very likely to back fire.

[WinstonSmith00]

7. That is a theory

Like most of economic it is a human concept.

Money supply and inflation do not seem to corralate if you look at the last 30 years

[unblock]

10. so your great idea is that congress should do what you think they've already done for decades?

your argument is rather confusing here....

[WinstonSmith00]

14. no

I was point out that money supply has grown faster than inflation for the last thirty years. Money supply is not an issue in modern economics because there is already so much of it it should already be worthless but its not because people perceive it to have value.

And they would perceive it to have the same value even if our government wasnt running a scam of borrowing money and taxing people and just used its sole power to print money to covr its cost.

Truly government spending could drive the entire economy and there is really no limit to what it could spend because it prints the money.

[unblock]

15. all righty, then. good luck convincing congress to do that.

[WinstonSmith00]

17. It wont happen in my lifetime

But people should realize we are being scammed.

[Orrex]

4. First they'd have to land on Community Chest

[A HERETIC I AM]

9. Congress does not print the money

Nor are they tasked with regulating how much is in circulation.

They approve the budget and it is up to the US Treasury to provide the funds for it.

The rest of your post displays an enormous lack of understanding of basic economics

[WinstonSmith00]

12. Yes but if you read the Constitution

Congress has the sole power to coin (modern day print) money.

Dont believe something just because its what somebody else told you economics is just a concept.

[A HERETIC I AM]

18. I have read the constitution

The "coining of money" is handled by the US Mint, but the constitution was written before we had a strong central banking system. The mint and the Bureau of Printing and Engraving (the folks who actually print Federal Reserve Notes) are operated under the US Treasury Department, as is the Internal Revenue Service.

If you actually think US Dollars can be equated to Monopoly money, your grasp on our monetary system is again, sorely lacking.

[Javaman]

23. +1000

me thinks the OP is on a libertarian/ayn rand fishing expedition.

I predict that the OP won't last long.

[WinstonSmith00]

30. Ayn Rands a hypocrit

I dont give any time to hypocrits.

Im trying to progress our thinking away from the fallacy that we need a central bank and we need national debt they are both a fraud to rob from the people of this country.

[Javaman]

34. go back to school an learn economics 101. then get back to us.

I, and many people here, don't have time for such drivel.

good day and if you respond, you will be blocked.

[WinstonSmith00]

35. unbox your mind

And learn what the word indoctrination means.

Dont believe everything you learned in school.

[Lee-Lee]

11. That's how Zimbabwe did it

Might want to check out how that worked out for them...

[WinstonSmith00]

13. But zimbabwe

Isnt the largest self sufficient corporation in the world.

[Javaman]

24. that is so much ayn randian conjecture. wow, just wow. nt

[WinstonSmith00]

28. No its a fact.

The US Goverment has become the corporate states of america. And America does have everything it needs within its borders truly we are the most unique country in that regard.

The idea we have to go through a central bank to control the value of our money i believe can be disproven its time we progressives try to get even more out of the box of wage slavery and poverty

[Javaman]

33. uh huh please provide us with links to these "facts". nt

[WinstonSmith00]

36. Modern Monetary theory

Is the genesis for my line of thinking http://neweconomicperspectives.org/modern-monetary-theory-primer.html.

Although i am thinking we can take it further.

[marylandblue]

20. Lw of supply and demand

Inflation has been low these past few years because the Federal Reserve has taken measured steps to shore up bank balance sheets to prevent deflation. Although there is a big increase in money supply this extra money is mostly sitting on bank balance sheets rather than circulating. If the government started paying for goods and services by printing money rather than taxation, this would put a large amount of money directly into circulation. Every country that has tried this has ended up bankrupted by hyperinflation. If the US is just seen as a giant corporation, then it would be the equivalent of a corporation raisong funds by issuing new stock. Everytime it does this, the stock drops because more stock is in circulation. This is okay, if the money is used to grow the corporation and make it worth more.down the road. But if they simply printed stock to pay for everything rather than pay out of revenues the value of the stock would drop.to zero.

[WinstonSmith00]

25. So the wealthy hoarding money

Is actually keeping inflation low. So i guess maybe that explains the greed and hoarding of the wealthy they are actually doing us all a favor by keeping us poor and indebt it gives value to our money some how.

The value of money is intrinisic its not controlled by supply or demand because it is a fiat currency. I know what $5 is worth to me and everybody else has their opinion too and it depends on the individual that gives that money that value. $5 to a billionaire is like a Penny to me.

[RadiationTherapy]

21. It's like these oversimple ideas of socialism and economics are coming from someone

who is ideologically conservative and is trying to satirize concepts they don't really understand or agree with.

[WinstonSmith00]

26. Im a far left progressive

And usually the simple way is the correct way. Just like water the path of least resistance.

[PoliticAverse]

27. They're basically doing that in Venezuela. It's not working out so well. n/t

[WinstonSmith00]

29. But small countries dont have

The same economic power the US does.

[rusty fender]

32. Don't all printed dollars

belong to the Federal Reserve Bank? A bank that is privately owned by its twelve member banks, and our government borrows dollars from the Fed, at interest.

[WinstonSmith00]

37. Exactly

Which is unconstitutional and is a fraud used for the wealthy to steal from the commons.

[rusty fender]

38. It's a huge scam

and we are the scammed