Скачать или смотреть Alan Greenspan: “the United States can always pay any debt that it has.”

“Are US Treasury bonds still safe to invest in?”
Alan Greenspan: “Very much so… the United States can always pay any debt that it has because we can always print money to do that, so there is zero probability of default.”
Of course the skeptics then say, “printing money! You’ll just debase the currency because all those printed dollars will cause inflation and you’ll turn the country into Zimbabwe!”
To which the reply is going to be quite long but you have to try…
All government spending is “printing money”, that’s how governments spend. And it doesn’t matter how many dollars you print, they won’t do anything until you spend them. It’s then that the money enters the economy. And finally, it’s not the amount of dollars that are printed, it’s the price government pays for things that cause inflation. Price not quantity. In reality the concept of “printing money” as the cause of inflation is backwards. Business and consumer demand for more cash is what causes banks to request more cash from the central bank. Then the quantity of money will increase. But prices have to go up first to cause the demand for cash to increase. The increase in the quantity of money is a symptom of inflation, not the cause. Increase in prices is the cause.