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Index
Acknowledgments
Introduction
Chapter 1: What is "Money"? - The nature of money and Treasuries
1.1 Bank Money
1.2 Money is Never Consumed
1.3 Treasuries are safer than money
1.4 New ways of thinking about Treasuries in the financial system
Chapter 2: How Money (bank deposits) and Treasuries are continually exchanged
2.1 How Deposits Grow
2.2 A Look at Aggregate Financial Investments in the Nation
2.3 Treasuries and the Fed
2.4 Money, Treasuries, and inflation
Chapter 3: Why taxes are never needed to “pay off” “national debt”
3.1 Why Treasuries are not like personal debt
3.2 Treasuries are different
3.3 Some Historical Context
3.4 What would it mean to “pay off” all the “national debt”?
Chapter 4: Why U.S. Treasuries cannot face the same problems as securities issued by eurozone nations
Chapter 5: Why we do not need to worry about interest rates on Treasuries (The myth of the “bond vigilantes”)
Chapter 6: Why interest on Treasuries is not a problem for the U.S.
Chapter 7: Why foreign ownership of Treasuries is not a problem
Chapter 8: The “debt limit” debate in Congress
8.1 The Myth About Increased Taxes to “Pay off Debt”
8.2 There is No Budgeting to Pay Off the “National Debt”
8.3 Toying with Financial System Crisis
8.4 Rating Agency Views
Chapter 9: Economic Saving and Treasuries
9.1 Economic Saving and productive Investment
9.2 Heat and Air Conditioning
9.3 Value-Added
9.4 Spending Wisely
Chapter 10: Conclusions
Appendix
About the Author
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