US Treasuries auction: method and implications

The latest in a series of class project videos from Eric Tymoigne’s upper division Modern Money Theory class at Lewis and Clark College. Over the next several days, we will be posting  select videos created by his most recent class. Eric has created a YouTube channel to be the home of MMT videos created by L&C students. You can check it out here.

2 responses to “US Treasuries auction: method and implications

  1. John Zelnicker

    Fantastic! Great work! Kudos to Eric and his class!

  2. Yes, a great description of the most stupid process ever devised! Who, in their right minds, would borrow money and pay interest on it when they own and operate the only machines in the world that produce legal money! The function of treasuries sales and taxes is to prevent the federal government from either adding to or deleting money from the economy, reserving that power to the banking system. It is a very unfair system. If it were fair then we would get treasuries in exchange for taxes OR, and it is a big “or”, the money taken out of circulation by treasuries sales would be taken out of circulation by taxes. Alternatively, we could have a sensible system where the federal government takes responsibility for the money supply using the tools they have (taxes and spending) that are suited for the purpose of money supply control and much stronger and direct than the process described above.