This article presents two short videos from people who address this odd phenomenon that governments can issue treasury bonds, can print money (or at least the Federal Reserve (1) can) and also have debts. First you can hear a rather shocking analysis by the president of El Salvador, Nayib Bukele (2), followed by some confusing words by Jared Bernstein (3), who is Chair of the Council of Economic Advisors of president Joe Biden.

In the above video Bukele claims that the main reason why people need to pay taxes is to uphold the illusion that this is needed for the government to run the nation. In the excerpt below Bernstein explains why the US Government cannot go bankrupt because they can print our own money.

Then the interviewer asks him: “Why exactly are we borrowing money in a currency that we print ourselves?”. Bernstein tries to reassure her by saying that some of the concepts are confusing. “The government prints money, and it lends that money by selling (treasury) bonds (is that what they do?)…they sell bonds and let people buy the bonds and lend the money.

So a lot of times…the language and the concepts can be unnecessarily confusing, but there is no question that the government prints money and it uses that money to …. I guess, eh, I don’t get it. I don’t know what they are talking about. It’s like, eh, the government clearly prints money, does it all the time, and it clearly borrows, otherwise we wouldn’t be having this debt-deficit conversation. I don’t think there is anything confusing there.”

I don’t know about you, but it seems that there is something fishy going on here. Share your thoughts in our cozy little Gondolath Deep State Study Group (5). Please like and subscribe 🙂

FOOTNOTES
(1) The Federal Reserve: another Deep State Player?
(2) The El Salvador President Nayib Bukele wants Everyone around him investigated for Bribery
(3) Jared Bernstein
(4) You can find these videos in the Laura Aboli Archive
(5) The Gondolath Deep State Study Group (Telegram group)