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Why can't the Treasury and the Federal Reserve agree upon a controlled issuance and instant procurement of UST bonds "straight from the printing press"? Treasury bonds are not “printed” at a “printing press,” the only “printing press” is run by the U.S. Mint, where they print Federal Reserve Notes (e.g., dollar bills). Treasury Bonds/Notes/Bills ...


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For free-floating sovereign borrowers (e.g., Japan, Canada, UK, and the euro as a bloc (the member countries are pegged versus each other), short-term bond yields are largely determined by the expected path of the policy rate (plus a small term premium). For longer-term bonds, one can debate how value is determined, but forward rates are generally smooth, so ...


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An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money, Paul A. Samuelson https://www.journals.uchicago.edu/doi/10.1086/258100 This paper describes money as a perpetuity which must persist for infinite generations to support distribution of consumption goods to retirement households. In terms of legal attributes the debt ...


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