Tim Canova: Let other entities issue currency

[brooklynite]

Dissent Magazine:

It would also be worthwhile to break the monopoly of central banks in the issuance of currency by funding some government operations with money created and issued by treasuries and finance ministries—money that would not add a penny to public debt. This is what President Abraham Lincoln did by issuing more than $400 million in U.S. notes, the so-called Greenback, to pay the huge costs of the American Civil War and national economic development programs. A century earlier, colonial Pennsylvania enjoyed fifty-two years of non-inflationary growth by issuing and lending its own currency into circulation, thereby financing major development of infrastructure without incurring debt or high tax burdens. Adam Smith, in his classic work Wealth of Nations (1776), praised Pennsylvania’s success with government-issued money. Such proposals have been introduced in Congress over the years, but Wall Street lobbying has prevented such legislation from passing.

I'm not sure this is the new vision voters in DWS' district are waiting for...

[villager]

1. Well, at least you are unequivocally clear, with this post, about your support for Wall St.

...and banking monopolies.

[brooklynite]

2. None of the Wall Street banks issue currency...

...if you want to sign on to a Federal Reserve conspiracy theory, there's a welcome audience at FR...

[villager]

6. Nice dodge -- doesn't change your sympathies. "but Wall Street lobbying has prevented

..such legislation from passing."

Even you know that means, conceptually, and what it's saying about the top-down economy you adore.

[muriel_volestrangler]

3. Are you saying the professor is too much of an intellectual for Florida voters? (nt)

[1939]

4. Printing your way out of trouble doesn't work.

By the end of the Civil War, you could get ten US paper dollars for a silver dollar. Look what happened to the Confederate currency during the war when they were printing them according to need. Go back to the American Revolution when the American rebels were printing money (does the phrase "not worth a Continental dollar" register?). We also have the examples of our many neighbors to the south and Weimar Germany in printing money as needed.

[cali]

5. If anyone wants to know more about Dirty Debbie's challenger:

http://www.salon.com/2016/05/27/10_things_you_need_to_know_about_debbie_wasserman_schultzs_partner/

[Omaha Steve]

7. FIRE DWS! Donate to Democratic Underground for Tim Canova FL-23 here

Well the DU seems to love him.

Donate to Democratic Underground for Tim Canova FL-23 here: https://secure.actblue.com/contribute/page/du4timcanova