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Podcast: The American Enterprise Manifesto: My America's Vision of Peace and Nonviolence for Humanism
Episode: HERE'S AN IDEA FOR INCREASING THE DEBT LIMIT ... Mint a Trillion Dollar Bit Coin Collateralized by The Federal Reserve for Bailout of the USA Economy
Description: The current debt limit is $28.4 trillion and our current debt is $28.43 using cash in and out budgeting and accounting. Â If this goes past October 18th what are the ramifications, unless Congress extends the deadline indefinitly due to Covid::
1) Triggers a downgrading in the credit rating triggers ...
2) Markets will plunge. Â Interest on Treasuries and bank debt will sky rocket.
3) Social Security holds $2.9 trillion in Treasury Bonds and will not be able to pay benefits if the interest isn't paid.
4) Private pension funds and mutual funds hold 25% of the Treasury Bonds and need in...