Kathryn Cannon Profile picture
Our gov spends simply at the will of Congress. We use the $ it spends to settle our trade deficits, pay our banks back, pay tax & net save.
Mar 15, 2020 12 tweets 4 min read
Thread on some of Biden’s horrible background:

1/. Joe helped kill a Sanders amendment that would have prevented price gouging on pharmaceuticals.

Including coronavirus meds:

2/. Joe has a long history of trying to cut Social Security (links below)

Like our establishment in both parties, Joe uses the lie that our government relies on “tax payer money” to justify cutting taxes.

But as FDR knew, our gov can always just deposit $ into SS accounts
Nov 26, 2019 4 tweets 4 min read
@kellygerling @RenFlogging @NPR Government charters banks and outsources its own money creating powers to them.

Bank credit is denominated in dollars because our government essentially allows banks to peg the bank credit they to gov issued dollars.

By, among other things, clearing all payments at par w/$... @kellygerling @RenFlogging @NPR 2/. Par clearing: