zanardm

What's Another $1.15 Trillion?

If 1 million people show up on the Mall with pails, waiting for a bailout; and if each gets a check for $1M, then this is what $1trillion looks like. But this is less than 1% of households. This shows how little $1 trillion is. So the Feds actions are in vain. A long time is necessary for confidence to return, per H. Greenberg, so i heard. So is the Fed just debasing the currency? Is it time for dual currencies here? Perhaps a Fed Reserve West in the heartland, with a N.A. dollar (North American dollar), with tight bank management controls, good IT team, and transparency and accountability, especially when temptation (creating money) is at the door or window. Start the 2 currencies at par. Then let all Americans decide what currency they prefer in transactions, both personal and for accounting. A more limited supply increases the value of any commodity, including a currency; hence protecting the value of a currency. There is too much money out there idling already; more geenbacks by the Fed is not the solution; too much debt is the problem. Debt city or deleveraging city (D.C.) what's the call - America?