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View Diary: Leak of Identities & Emails of Rich Hiding *$32 Trillion* Offshore (240 comments)

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  •  Exactly... (9+ / 0-)

    Hyper inflation terrifies the rich but in reality, it could have a very equalizing effect on wealth distribution.  If the US printed $32 trillion and used half of it to pay off our national debt and the other half to rebuild infastructure,  the money in off shore accounts would effectively be cut in half.  As long as all wages were doubled as well, it would effectively cut everyone's debt in half as well.  

    I know this is an extreme example that would never happen but just as a thought experiment, it demonstrates why it is so important for the rich to keep inflation down and stop the treasury from printing money.  

    "Perhaps the sentiments contained in the following pages, are not YET sufficiently fashionable to procure them general favour..."

    by Buckeye Nut Schell on Thu Apr 04, 2013 at 06:15:22 AM PDT

    [ Parent ]

    •  The money that is moved from the public (6+ / 0-)

      treasury into the private sector isn't printed. We do that by key strokes now, both when the Fed transfers dollars to banks and when the Social Security Administration makes pension payments. Although the latter now are mandated to go through banks, these regular electronic transfers have not placated the banksters because they can't play with these funds as they'd like, but have to keep them available for the owners of the accounts to draw down. They get to use them short-term and keep whatever interest they can collect that way, but they can't make long-term bets. If there was an intent to compensate banks for having taken away the graduate education loan program, it hasn't worked. Student loans were a gravy train AND an enabler of spurious training programs set up by corporate cronies.

      We organize governments to deliver services and prevent abuse.

      by hannah on Thu Apr 04, 2013 at 07:35:30 AM PDT

      [ Parent ]

    •  Yes, but then we would be paying double (0+ / 0-)

      for good and services too if the dollar is worth less.

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