>>4386989 (LB)
Nah. He's wrong about the Fed being the owner of the US Gov's debt. They own some of it, but not even most.
He also doesn't understand that inflation also happened under the Gold Standard (which is why it had to be abandoned) and would happen again under a bimetallic system.
And disbanding the Fed would not cause gov debt to go poof. At least I hope they don't do anything like that. That would be massively inflationary. Dollars are magiced into existence with the expectation that they will be paid back and return to nothingness. The current value is based on that requirement. If the debt is suddenly forgiven then those dollars are free to be spent on whatever. Inflationary.
Nope. This guy doesn't understand.