Freedom from National Debt eBook Frank N Newman
Download As PDF : Freedom from National Debt eBook Frank N Newman 
This short book explains what “national debt” really means in the modern U.S. financial system, based on ideas developed during the author’s years as Deputy Secretary of the U.S. Treasury and as CEO of banks in the U.S. and China. It examines money and Treasuries in the U.S. financial system from new perspectives, and presents logic that can free America from unfounded fear.
These thoughts build on his prior book, Six Myths That Hold Back America, to ask, Why does America fear “national debt”? How do Treasury securities supposedly bring harm to the nation? Can the debt problems of eurozone nations, with very different financial systems, apply to the U.S.? Analyzing the concerns leads to new understanding Treasury securities have a unique role in the modern U.S. financial system, and there is no need to fear them.
Inside, the reader will find explanations of
How deficit reduction could be focused on future years of hoped-for strong economies, 10 and 20 years from now, without worry about national debt in the meantime.
Ways to take steps now, in this long, painful period of high unemployment, to create jobs, repair infrastructure, and lower taxes meaningfully - programs that are now severely limited by fear of national debt.
How the expression “national debt” in the U.S. carries outdated implications for Treasury securities, which are unique financial instruments with a special role in the modern financial system, and represent large amounts of savings in the safest form for millions of investors.
That “money” is really “bank money,” created largely by banks, subject to bank risk, and thus not as safe as Treasuries, which are fully backed by the U.S. government.
That Treasury auctions allocate a limited supply of new securities to investors and the winners in the auctions get the highest safety and extraordinary liquidity of Treasuries.
Why Treasuries do not represent a great burden to future generations why taxes are never required to “pay them off” in aggregate.
Why U.S. Treasuries cannot face the problems of securities issued by eurozone nations.
Why Treasury issuance of securities does not increase or decrease the money supply, and does not consume or “crowd out” funds available for investment.
How loan growth, money, Treasuries, and quantitative easing do and do not relate to inflation.
Why interest rates on Treasuries do not rise just because there are more Treasuries outstanding, and how interest paid on Treasuries does not consume economic resources.
Why foreign ownership of Treasuries does not create indebtedness to other nations.
Why deficits are needed in times of high unemployment, and deficit reduction needed when the economy is too hot; why government should spend wisely regardless of the national debt.
Why Washington’s focus on reducing the cumulative deficit over ten years, and trying to “pay for” near-term deficits over future years, is misplaced and damaging to the economy.
Why debates over the “debt ceiling” risk major disruptions to the entire financial system.
America does not need to fear national debt, and has great opportunities at this time. We can repair and modernize the roads, bridges, dams, airports, schools, and military equipment of America. We can create millions of new jobs. And taxes can be reduced at the same time.
Freedom from National Debt eBook Frank N Newman
This book clearly explains why there is no problem with the 'national debt'. He shows that the securities used to acquire for the government money to cover deficit spending by Congress are rolled over forever and the principal never paid (only interest paid). A debt that is never repaid and everyone knows it is just not a real debt. But you also realize that most of the so-called debt consists of time deposits containing the principal of funds used to 'buy' the US Treasury securities by private, foreign and state and local government investors. Most of the money is there to return the principal and the Treasury can use securities in the same way to acquire money to pay the interest. It too will roll over these 'interest securities' forever. He also shows that the Chinese and Japanese are not buying these securities with their national currency but with dollars acquired by selling us imports. And by selling securities to the Chinese and Japanese we are draining these dollars out of circulation where they otherwise would probably cause inflation as we are doing large deficit spending on wars against ISIS, the Taliban, and beefing up NATO.Product details
|
Tags : Freedom from National Debt - Kindle edition by Frank N. Newman. Download it once and read it on your Kindle device, PC, phones or tablets. Use features like bookmarks, note taking and highlighting while reading Freedom from National Debt.,ebook,Frank N. Newman,Freedom from National Debt,Two Harbors Press,BUSINESS & ECONOMICS Development Economic Development,BUSINESS & ECONOMICS Government & Business
People also read other books :
- Wide Awake Academy of the Fallen Book 1 eBook Daniele Lanzarotta
- The Faraway Franzeska G Ewart 9781533041494 Books
- Multiplication Math Skills Challenge Math Challenge Series Book 1 edition by Math4Math Games Children eBooks
- Scarabs The History Manufacture and Symbolism of the Scarabæus in Ancient Egypt Phoenicia Sardinia Etruria etc Myer Isaac 9781318955558 Books
- Certified Internal Auditor® CIA Exam Practice Questions eBook The IIA Research Foundation
Freedom from National Debt eBook Frank N Newman Reviews
Takes the reader step by step through his reasoning as to why our notions of public debt are not as logical as we think. Explaining in detail our financial system and how US Treasuries actually work.
Read this book! When one tries to understand complex issues, it's important to review as many opinions as you can. It's also critical to ascertain the weight one gives each opinion based on the source of that opinion. Frank Newman has spent the last 20 to 25 years working at the very pinnacle of both private and public sectors. Dept. Sec. of U.S. Treasury under Clinton, CEO and Chairman of Shenzen Development Bank in China, and several other C suite positions at US banks before that. This guy CLEARLY has unique credentials that merit his opinions be assigned a greater weight than those who do not. As an example, Paul Ryan, for instance, has literally no experience in either public or private financial institutions. Therefore, his views on the subjects such as US debt instruments and their impact on the overall economy should be assigned less weight than Frank Newman's. Just a for instance. Read the book. It's enlightening. In all thy getting...get understanding.
In the current political situation people are wondering why suddenly neither political party is worrying about bond vigilantes and the mountsin of federal debt. This book provides a clear point of view that debt does not matter for the USA, or China and Japan, but that it does matter for Eurozone countries.
I wish our senators and representatives understood how our fiat currency works. We would be a much more powerful country. This book explains how money works and where it comes from today since we went off the gold standard. If you are fearful of the growing so-called "national debt", you need to read this book.
The book provides a short, sometimes too short for a book targeted at general readers, exposition of the mechanics and issues surrounding the outstanding amount treasuries. You will understand why the U.S. public debt is not a burden for the nation and that arguments surrounding bond vigilantes, the threat of higher taxes to repay the debt, or china refusing to buy treasuries don't hold any ground. The arguments in this book can be extended to any other monetarily sovereignty government (Japan, UK, Canada, Australia, etc.) and help to understand why the Eurozone sovereign crisis, the Argentinian sovereign crisis, among others, occurred.
This book explains how the sovereign money system of a nation such as the U.S. actually works, which is not at all like most people think. It exposes the sham or ignorance of those who are always screaming for a balanced budget, those who claim that our grandchildren are in debt to China, and those who think that the creator of the dollar must somehow go to China to get dollars. It explains how the Federal Reserve uses interest rates and the sale and purchase of bonds as tools to stabilize the financial engine of the nation. It also explains how it is NOT the case that granny must make a deposit before the banks can make a loan. Things are not like they used to be down at the Old Bailey Savings and Loan. If you understand anything about MMT (Modern Monetary Theory), you will see that this guy is describing something very similar to that, and he acknowledges the similarity. That is, he and the MMTers are just describing how it all works.
It is way beyond negligence that the leaders of a country such as the U.S. (which uses its own fiat dollars), have allowed the economy to get in the shape it is in, when prudent spending/investing could quickly turn things around. This could be done by investing in our real assets (our children, infrastructure, and services for those who need them). A whole generation or more are being cheated out of their birthright--a right to pursue their happiness through work, through education, housing, and the raising of a family with a decent standard of living-- because the government has allowed the fiat money to be collected at the top, and has made sure that lack of liquidity (income) on the part of the laboring class means that there will be no demand and hence, no real economy anytime soon. It doesn't have to be that way. Americans need to send leaders up who understand the system so that those leaders can make informed decisions instead of blindly acting out of ignorance. But first, Americans need to educate themselves as to how the system actually works so that they do not fall victim to the demagogues who wish to make matters worse by calling for slashing of spending, balanced budget amendments and such. The U.S. hasn't paid off its debt in more than a hundred years and those in the know don't expect it to. They understand that if all the debt were paid off at once, there would be no money left for a dynamic economy. In the game, Monopoly, all the players could return all the money back to the bank and while the bank would no longer be "in deficit," neither would there be a dynamic economy, i.e. no money to purchase Boardwalk, let alone Baltic Avenue. Monopoly rules say if the bank goes dry the banker is allowed to print up money on plain paper (color it green) in order to keep the game going. Monopoly runs on a fiat system. Well, the "game" has stopped for a lot of people out here. The ordinary guy could use some QE. How about it, Mrs. Yellen, could you please educate some of those morons over in Congress? I know it isn't your job, but could some grownups do something, please?
The budget austerity crowd reminds me of those misguided medical "professionals" who bled George Washington to death. Many of them have the best of intentions as they bleed a weakened economy and sacrifice our children's economic futures all "for our own good." This little book does its part to try to educate the masses. The first step is to get it and read it, and discuss it with family and friends. Remember friends don't let friends embrace austerity (or the myths that go with it) in a nation that creates it own currency.
This book clearly explains why there is no problem with the 'national debt'. He shows that the securities used to acquire for the government money to cover deficit spending by Congress are rolled over forever and the principal never paid (only interest paid). A debt that is never repaid and everyone knows it is just not a real debt. But you also realize that most of the so-called debt consists of time deposits containing the principal of funds used to 'buy' the US Treasury securities by private, foreign and state and local government investors. Most of the money is there to return the principal and the Treasury can use securities in the same way to acquire money to pay the interest. It too will roll over these 'interest securities' forever. He also shows that the Chinese and Japanese are not buying these securities with their national currency but with dollars acquired by selling us imports. And by selling securities to the Chinese and Japanese we are draining these dollars out of circulation where they otherwise would probably cause inflation as we are doing large deficit spending on wars against ISIS, the Taliban, and beefing up NATO.
0 Response to "⋙ Descargar Free Freedom from National Debt eBook Frank N Newman"
Post a Comment