Why can't we simply print more money to pay debt?

[RandomPoster]

Am I missing something here? Can't the US simply print 20 trillion dollars all at once and pay off the debt in one day? If you're worried about the inflation problem, I have a solution. Americans have a combined net worth of 63 trillion dollars. So, the government prints up 650 sextillion dollars in one day in secret. They instantly send out 20 trillion to pay off the debt and give everyone a check for 1,000,000 times what their net worth is. This would minimize the effect of the 20 trillion dollars on the ratio of net worth to inflationary loss.

 

[usmbguest5318]

LMGTFY

 

[Unkotare]

This thread is why legalizing marijuana is a bad idea.

 

[AsianTrumpSupporter]

 

[shockedcanadian]

In short, rampant hyper inflation devalue of the dollar.

It's why in some countries it costs $10 billion local dollars for a loaf of bread. No exaggeration there.

 

[Mousterian]

But, Hey! our debt to the Heathen Chinee would be a lot smaller, wouldn't it?

 

[Camp]

Am I missing something here? Can't the US simply print 20 trillion dollars all at once and pay off the debt in one day? If you're worried about the inflation problem, I have a solution. Americans have a combined net worth of 63 trillion dollars. So, the government prints up 650 sextillion dollars in one day in secret. They instantly send out 20 trillion to pay off the debt and give everyone a check for 1,000,000 times what their net worth is. This would minimize the effect of the 20 trillion dollars on the ratio of net worth to inflationary loss.

Nobody would ever want to loan the USA money again if they knew we were going to pay the loan off with devalued money.

 

[fncceo]

OK ... confirmed troll.

I had my doubts that anyone could be that stupid and thank goodness my faith in humanity has be reaffirmed.

 

[Mikeoxenormous]

Am I missing something here? Can't the US simply print 20 trillion dollars all at once and pay off the debt in one day? If you're worried about the inflation problem, I have a solution. Americans have a combined net worth of 63 trillion dollars. So, the government prints up 650 sextillion dollars in one day in secret. They instantly send out 20 trillion to pay off the debt and give everyone a check for 1,000,000 times what their net worth is. This would minimize the effect of the 20 trillion dollars on the ratio of net worth to inflationary loss.

Back in 1932 a $20 gold piece(1 ounce of gold) was worth? $20. Back then the dollar was backed by gold, so the government could only print enough money that the gold reserves could cover. FDR decided to take the dollar off the gold standard and started printing more money at the rate of $25 per ounce of gold. What did this do to the ounce of gold? Nothing, it was still 1 ounce, but it made the dollar 1/4 of its value, so instead of having 20 dollars to buy that ounce, it then took $25. Today with trillions of dollars of debt, an ounce of gold is over $1,200 an ounce, or 600 times more inflation. What do you think an ounce of gold would cost if you want to print more? Of course there is 4 trillion dollars of debt still owned by the central bank, so Obama's recovery would look good, but who is going to pay for that debt? Will it make gold go up by 1/5 again? That would make gold at $1,500 an ounce. Are you ready for higher food and fuel, and everything else again?

FDR Was a Great Leader, But His Economic Plan Isn't One to Follow

The New Deal was almost five years old, but the economy was not back. In fact, the country seemed farther from recovery than before. A new sense of futility was overcoming Americans. The British magazine the Economist sneered that the United States "seemed to have forgotten, for the moment, how to grow."

The date matters, because our new president has made it clear that his model is Roosevelt. Barack Obama has spoken of creating 3 million jobs with his stimulus plan. As a new president in 1933, Roosevelt spoke of creating "one million jobs by October 1" through his spending packages. At about $850 billion, Obama's stimulus represents about 5.9 percent of gross domestic product. The spending programs of Roosevelt's National Recovery Administration amounted to almost precisely the same share. Then as now, the country was in what we might call an "illions" moment, when a nation contemplates federal spending of a magnitude previously unimaginable. The only difference is that today, we're discussing trillions instead of billions.

 

[Cossack1483]

OK ... confirmed troll.

I had my doubts that anyone could be that stupid and thank goodness my faith in humanity has be reaffirmed.

Well either a troll or a joo. Whom else would recommend currency mongrelization? Not to mention racial mongrelization. OY!!!

 

[fncceo]

Am I missing something here? Can't the US simply print 20 trillion dollars all at once and pay off the debt in one day? If you're worried about the inflation problem, I have a solution. Americans have a combined net worth of 63 trillion dollars. So, the government prints up 650 sextillion dollars in one day in secret. They instantly send out 20 trillion to pay off the debt and give everyone a check for 1,000,000 times what their net worth is. This would minimize the effect of the 20 trillion dollars on the ratio of net worth to inflationary loss.

Back in 1932 a $20 gold piece(1 ounce of gold) was worth? $20. Back then the dollar was backed by gold, so the government could only print enough money that the gold reserves could cover. FDR decided to take the dollar off the gold standard and started printing more money at the rate of $25 per ounce of gold. What did this do to the ounce of gold? Nothing, it was still 1 ounce, but it made the dollar 1/4 of its value, so instead of having 20 dollars to buy that ounce, it then took $25. Today with trillions of dollars of debt, an ounce of gold is over $1,200 an ounce, or 600 times more inflation. What do you think an ounce of gold would cost if you want to print more? Of course there is 4 trillion dollars of debt still owned by the central bank, so Obama's recovery would look good, but who is going to pay for that debt? Will it make gold go up by 1/5 again? That would make gold at $1,500 an ounce. Are you ready for higher food and fuel, and everything else again?

FDR Was a Great Leader, But His Economic Plan Isn't One to Follow

The New Deal was almost five years old, but the economy was not back. In fact, the country seemed farther from recovery than before. A new sense of futility was overcoming Americans. The British magazine the Economist sneered that the United States "seemed to have forgotten, for the moment, how to grow."

The date matters, because our new president has made it clear that his model is Roosevelt. Barack Obama has spoken of creating 3 million jobs with his stimulus plan. As a new president in 1933, Roosevelt spoke of creating "one million jobs by October 1" through his spending packages. At about $850 billion, Obama's stimulus represents about 5.9 percent of gross domestic product. The spending programs of Roosevelt's National Recovery Administration amounted to almost precisely the same share. Then as now, the country was in what we might call an "illions" moment, when a nation contemplates federal spending of a magnitude previously unimaginable. The only difference is that today, we're discussing trillions instead of billions.

The thing about gold is ... it has no more intrinsic value than paper money. Both gold and paper money are worth precisely no more or no less than what someone is willing to trade for them.

If gold jewelry suddenly falls out of fashion around the world, the price of gold would plummet. If people are suddenly bullish on American companies, the value of the dollar would skyrocket.

Gold, Money, Beanie Babies ... they're all subject to the whims of the market.

 

[petro]

Better yet. How about a Go Fund Me account for the debt and healthcare for the entire country.
Goal...set the bar high...say 40 trillion.

 

[Cossack1483]

Gold and the Dow work inverse of each other. Economically Trump has fared well , both are soaring. Very nuanced. Usually precious metals can be manipulated by the keynesian manipulation of the stock market ; ie the fed. Again , OY!

 

[blastoff]

Am I missing something here? Can't the US simply print 20 trillion dollars all at once and pay off the debt in one day? If you're worried about the inflation problem, I have a solution. Americans have a combined net worth of 63 trillion dollars. So, the government prints up 650 sextillion dollars in one day in secret. They instantly send out 20 trillion to pay off the debt and give everyone a check for 1,000,000 times what their net worth is. This would minimize the effect of the 20 trillion dollars on the ratio of net worth to inflationary loss.

Printing more money comes from folks who think it's okay to write checks just because you've got blank ones.

 

[Manonthestreet]

4 trillion dollars of tax money and Congress still can't run a surplus......

 

[Remodeling Maidiac]

Am I missing something here? Can't the US simply print 20 trillion dollars all at once and pay off the debt in one day? If you're worried about the inflation problem, I have a solution. Americans have a combined net worth of 63 trillion dollars. So, the government prints up 650 sextillion dollars in one day in secret. They instantly send out 20 trillion to pay off the debt and give everyone a check for 1,000,000 times what their net worth is. This would minimize the effect of the 20 trillion dollars on the ratio of net worth to inflationary loss.

I can't believe I just read this...