Panel on Monetary Reform
Featuring Joseph T. Salerno, Jörg Guido Hülsmann, Mark Thornton, Roger W. Garrison, and Douglas E. French. Recorded at Mises University 2011.
Featuring Joseph T. Salerno, Jörg Guido Hülsmann, Mark Thornton, Roger W. Garrison, and Douglas E. French. Recorded at Mises University 2011.
Archived from the live Mises.tv broadcast, this lecture by Doug French was presented at the 2011 Mises University in Auburn, Alabama.
So, isn't it time to demythologize all of this? Treasuries are bonds just like any other bonds. There's nothing magic, mythical, or sacred about them. A default on US government debt is no more or less radical than a default on any other kind of debt.
If Congress passed legislation that systematically reduced the debt ceiling over time, the economy could be rebuilt on a solid foundation.