Dr. Martin Hash Podcast

Treasuries are government IOUs, now over $21 trillion of debt, but money is imaginary and the money Treasuries supposedly represent doesn't exist anyway, and hasn't for many decades, since America hasn't balanced a budget, nor will it ever again. Obviously, no one needs the money The Debt represents because it's on continuous rollover, like imagining you own pink elephants you never ride. Actually, except for preconceptions of accounting, there's no reason to issue more pink elephants, I mean Treasuries; what's the difference if there's more pink elephants or not? When the U.S. needs more money, it can simply print it without issuing Treasuries.

The reason we still have Treasuries is because the ultra wealthy want to be able to accumulate even more wealth by "investing" in pink elephants. Capitalism has this weird aspect that builds no roads, constructs no schools, explores no space, but instead increases an imaginary herd of pink elephants, which does nothing but create an aristocracy; a concentration of wealth that limits liberty for everyone else. Nothing positive results from exchanging pink elephants for liberty; in fact, it seems like the worst possible exchange. Government need write no IOUs at all, it's all the same except the Nouveau Aristocracy don't automatically assume ownership of the nation's wealth. Most-liberty-to-most-people is achieved by printing money for economic purposes rather than creation of royalty via Treasuries.