Treasury Bills, Global Financial System, United States discussed on The Majority Report with Sam Seder - 1665 - The Production of Money: How to Break the Power of Bankers w/ Ann Pettifor (M)

Automatic TRANSCRIPT

Two treasury bills which are debt to make concessions on now at the at the base if you like of the global financial system we end have gold anymore as a reserve currency we have the us treasury bills effectively people people by us treasury bills to put it into their central banks to show that they have some assets in the bank valuable assets in the back so it's not american debt which is at the base of the global financial said we're getting into deep waters well yes no but as such i mean a but this i mean this this to visit so as much because now the us dollar function as like a commodity in that sense right mean uh two other sovereign nations that we can actually print more money right that is we're we're not necessarily tethered to is something let's say like a greece is to the euro uh because they don't have the ability to just basically print money we could theoretically do it because we're we're headed towards a debt ceiling crisis and and and there are some question as to whether or not the executive uh the treasury department has the uh uh you unilateral authority mend i've seen it argued pretty compellingly that it does to simply prints or i should say meant a um a trillion dollar coin let's say uh and uh could pay off the debt and uh theoretically the cost of things a under a modern monetary theory is that uh is is not an obstacle if we're talking about us dollars because we can print those dollars.

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