Thursday, September 10, 2009

Issue Greenback Dollars (Dgitially) to Fix Social Security

The Social Security $5 billion shortfall for one month is a drop in the bucket compared to the $2 trilllion - or is it $6 trillion? - created out of thin air to shore up the bankers and their entitled bonus packages.

The federal government, though of course it will not, simply has to print money and dispense it to retirees. If it borrows the money from the privately owned banks to cover this deficit, then, of course, the federal government will be in trouble. It will not only have violated the wisdom of the founding fathers and their government matrix system outlined in the Constitution, it will be even more in debt to people who already are dictating to Congress as they did last autumn with their financial terrorist tactics.

However, non-borrowed greenbacks simply printed and dispersed to spenders will simply offset some of the growing black hole caused by the financial industry's fraud games. It would be non-inflationary in light of the strong deflation now underway.

And because the greenbacks are not borrowed, they would not show up on the growing deficit. As the greenbacks are spent and re-spent the multiplier would generate some tax revenue to offset the problems there.

Of course, Lincoln issued greenbacks. He was murdered, though not for that. JFK issued greenbacks and he was murdered, though also not for that. There were other offshore interests and political motivations apparently involved in those executions. The argument that two greenback proponents met untimely deaths is a red herring to intimidate Congress into not following Constitutional wisdom.

Likewise, unemployment benefits that are running out can be extended and non-borrowed greenbacks can be digitally issued to the jobless and the money they spend will somewhat plug a small portion of the growing black hole in the economy.

I keep reading alarmists who say the government is printing money. It is not. The Fed is printing money and charging them interest and the continual process of doing this since 1913 or whenever has been a major contributor to this mess. After all, Federal Reserve chairmen have admitted they do not know what money is or what it does.

But I think people posting on this board have somewhat of an idea.