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The U S Default Fantasy

Bill Still

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The real numbers

The income from taxation is ten times what's needed to service the debt.

Reduce spending? Absolutely. But what's the right way to do it?

Change the mix of state vs. private debt in the money supply

97% of the US money supply is actually issued as debt by banks. The other 3%? That's the coin and cash in your pocket.

Change the ratio. Change it over a five year plan.

Nations should not be allowed to borrow from banks.

If government borrows from banks it becomes the servant of banks.

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