We should probably do that since so many, like yourself, misrepresent them as “debt” instead of the mostly irrelevant accounting function they actually serve, which is only a record of the total “net” money supply after private sector debt is accounted for.

We’ve been here before.

You can mint that Trillion dollar coin any time you like. As long as 98% of the people, agencies, and institutions in the world think that T-bill debt is debt, it’s debt. We have zero power to declare it to be otherwise.

Written by

Data Driven Econophile. Muslim, USA born. Been “woke” 2x: 1st, when I realized the world isn’t fair; 2nd, when I realized the “woke” people are full of shit.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store