Downsize the Debt Act (Tabled)

[Southern Senator North Carolina Yankee]

First of all, this wouldn't cause a global collapse. No economist would agree with that. That's just nonsense.

Cranberry, this has nothing to do with private banks. The Fed currently holds a ton of securities issued by the Federal government, which the Federal government must make interest payments on. That makes zero sense. Why should the government pay interest to a government bank?

This isn't some goldbug wacko proposal (those will come later ), it's just common sense.

Wouldn't selling them all at once cause unnecessary financial instability though. How much are we talking in securities and wouldn't it be better to do them in sections as opposed to all at once then?

[Southern Senator North Carolina Yankee]

Nay I think we can atleast debate the matter.

[Southern Senator North Carolina Yankee]

The money was printed that was paid to the Treasury for these securities. If that is the case, it could not only weaken the dollar but also cause inflation, because it sends a message we are monetizing the debt no?

[Southern Senator North Carolina Yankee]

Perhaps I am just hopelessly optimistic about the ability to amend things to something practical, guys.