There is a way to put money into the hands of American Citizens


There is a way to put money into the hands of American Citizens without driving up the national debt and without resorting to taxes. Essentially all we have to do is add an additional way the Federal Reserve System creates money. We should monetize citizens. That would entail the Federal Reserve Banks depositing money into financial institutions for each citizen on a regular basis thus creating new money. At the same time, the Federal Reserve should deposit money into the states' treasuries for each citizen living in the state. And the Federal Reserve should deposit money into the US Treasury for each citizen.

None of the other ways money is created need be modified. Since the Federal Reserve Banks can effectuate this with little effort Money can flow into the hands of citizens very quickly and on a regular basis. I estimate that the Federal Reserve Banks hold sufficient debt instruments (bonds and the like) so they can manage inflation with open market operations quite easily.

I wrote about this and self-published it in Democratize Money: Monetize Citizens some time back. There are a few more details that one might want to put into place that are in the book. Here is a link for your reference. https://www.amazon.com/Democratize-Money-Monetize-Citizens-Proposal/dp/1549614487

Yes, I understand this mechanism is as far from trickle-down economics as one can get. However, this will provide a way to reopen the economy where it counts, in the pocketbooks of US Citizens.

Respectfully,


T. Edward Westen, 

Professor emeritus, Political Science, Central Michigan University


READ what i posted: and I posted a book review on Amazon. It's a wonderful book.

Comments

Monetising citizens is clearly a way forward to mitigate the world's savaged economies. The best way is if the governents themselves (not the Central Banks or the Fed, which is privately-operated) issue and distribute the money, on a basis that involves no debt or interest.

There is already an estimated $257 trillion or so of debt across the globe. Adding to that only exacerbates the situation.
LT said…
Thank you Biscuit Factory! Have you thoughts on debt forgiveness?

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