In Part 2, Joe rebuts Pete’s accusation that paying off the US national debt with debt-free US money (a la The NEED Act) would be inflationary. links: Dr. Yamaguchi’s paper,“On the Liquidation of Government Debt under A Debt-Free Money System” The NEED Act
Archive for the ‘Coffee with Joe’ Category
Contrasting Monetary Systems vis a vis Inflation (Part 1 of 2): Coffee with Joe 2-11-11
Pete lays out the charge that paying off the US national debt with Greenbacks will double the money supply and cause rampant inflation. Joe will answer this in Part 2, but here he asks the viewer to consider the inflationary aspects of the current monetary system under the direction of Ben Bernanke. links: Dr. Yamaguchi’s [...]
From Private Bank Credits to Public Money: Full-Reserve Banking
Joe takes a shot at explaining parts of the transition from the private, debt-based, fractionally-reserved, temporary money system that we have now to the public, debt-free, fully-reserved permanent money system of the future.
NEED Act Benefit to the States: Coffee with Joe 1-20-11
Pete calculates how much money might be created in one year in the US under the NEED Act and comes up with a figure of $423 billion (3% of the $14.1 Trillion US GDP in 2009).
The NEED Act–Neither Inflationary nor Deflationary: Coffee with
Joe highlights the governing principle of the monetary authority in the NEED Act, HR 6550.
Consider H.R. 6550!: An Appeal to VT Senators Sanders and Leahy
Joe and Pete ask Pete’s US Senators Sanders and Leahy to have their best economics people read Dennis Kucinich’s brand-new NEED Act, the National Employment Emergency Defense Act, which would completely reform the debt-based monetary system we have had since the passage of the Federal Reserve Act in 1913.
A True Cause for Celebration !! Champagne with Joe 12-21-10
Joe and Pete celebrate this groundbreaking news: Dennis Kucinich has submitted the first comprehensive monetary reform act to Congress in nearly 90 years: the N.E.E.D. Act, (the National Employment Emergency Defense Act).
Coffee with Joe 12-16-10: The Year in Review
It’s looking like Dennis Kucinich will not be entering his monetary reform bill in Congress this fall; 2010 will not go down as one of the great years in monetary reform history. So, instead of reviewing the year, Joe reviews the the fundamental weakness in the design of the debt-based money system: it is unstable [...]
Coffee with Joe 12-9-10: Questions for Bernanke and Summers
Joe asks the questions of Ben Bernanke that Scott Pelley missed in the recent 60 Minutes interview; then extends those questions to Larry Summers who warned of a double dip recession if we didn’t pass the tax compromise before the US Congress right now.
Coffee with Joe 12-2-10: A Video Essay to Senator Sanders
Joe and Pete’s belated entry to VT Senator Bernie Sanders’ essay contest asking for help to start a “serious conversation about how we move towards a balanced budget that is fair to working people and the middle class.” We won’t get there by cutting government spending or by increasing taxes, because of the largely unacknowledged [...]
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