TLDR
Summarize it for you using two screenshots because “
The US government can’t go bankrupt because we print our own currency” Why does the government borrow in the currency it prints out of thin air?
Even the Chairman of the Council of Economic Advisors can’t explain it.”
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‘Since the fed govt is the issuer of the US dollar, why does it borrow dollars?”
All credit to Bernstein for honestly grappling with this question which mainstream econ textbooks skip over.
Including ‘what is the dollar and where does it come from?’
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WordPress’d
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WordPress’d from my personal iPhone, 650-283-8008, number that Steve Jobs texted me on
https://www.YouTube.com/watch?v=ejeIz4EhoJ0
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