Again, the real resources Good Halloween Poop Emojis Shirt matter first, and then only after that currency and financial assets. Rich people aren’t being generous by buying bonds, the U.S. is being generous by offering rich people a secure way to store their money. If you paid down debt and took away those treasury bonds, markets would be much more volatile. As others have said US issues its own currency, and so cannot be forced into default. For inflation, the quantity of money is not the issue, it’s the net flow of money that matters. If Bill Gates starts the day with a $100 billion dollars and sells.
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And buys in equal parts so Good Halloween Poop Emojis Shirt he ends the day with $100 billion dollars, there is no inflation pressure. This is why the quantity of money doesn’t matter that much, it’s the flow of money that matters. You get inflation when the government keeps trying to spend when the resources just aren’t there. Learn about stock-flow models, it will all make sense then. Because net wealth tends to be relatively stable, there’s no inflation pressure. QE, for example, is an asset swap. It’s the same as buying gold, except you are buying houses or corporate or municipal bonds or whatever.