DrALJONESPoll No. 2 on US government finances
Please choose "True" or "False" for the following statement:
"The US federal government is legally able to create USD out of thin air".
True
False
Poll ended at .
Answer to Poll No. 2 on US government finances
It is true that:
"The US federal government is legally able to create USD out of thin air".
This currency issuing is how federal spending works (state spending is different)
Info: In the UK (US is similar), "Public expenditure is always financed through money creation rather than taxation or debt issuance."
The self-financing state: an institutional analysis of government expenditure, revenue collection and debt issuance operations in the United Kingdom
<p>This paper provides the first detailed institutional analysis of the UK Government’s expenditure, revenue collection and debt issuance processes. We show tha