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View Diary: The Small Ball Trillion Dollar Coin Seigniorage Exception (13 comments)

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  •  That's right! (2+ / 0-)
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    Jim P, Calgacus

    It is bonds previously bought by the Fed still awaiting maturity. Not all bond require repaying principal. There are also securities called consols that don't require repayment, but do pay interest in perpetuity! Those would not count against the debt ceiling, so they are also an alternative to PCS. From my point of debt is important because of its political uses by austerians. That's why I want to pay it off, and that's part of the reason why I propose the $60 T coin.

    •  There'd be a clean feeling, a burden lifted (1+ / 0-)
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      and palpably felt by the Body Politic if we just resolved the debt issue quickly. So the PCS could be Change which enlivens Hope!

      The Internet is just the tail of the Corporate Media dog.

      by Jim P on Tue Jan 08, 2013 at 10:49:12 PM PST

      [ Parent ]

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