tag:blogger.com,1999:blog-6245381193993153721.post3613899250332004444..comments2024-03-28T17:08:15.784-07:00Comments on Social Democracy for the 21st Century: A Realist Alternative to the Modern Left: The Federal Reserve and its Direct Purchases of US Government DebtLord Keyneshttp://www.blogger.com/profile/06556863604205200159noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-6245381193993153721.post-42828738920485293272014-12-01T02:54:01.372-08:002014-12-01T02:54:01.372-08:00So that these things can happen.So that these things can happen.Unanimousnoreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-58375726423125053162014-11-25T00:07:14.610-08:002014-11-25T00:07:14.610-08:00Why have a cb at all?Why have a cb at all?Anonymoushttps://www.blogger.com/profile/00196841473718277814noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-58442158984893283662014-11-24T08:05:46.828-08:002014-11-24T08:05:46.828-08:00Also : How does direct v indirect purchase of deb...Also : How does direct v indirect purchase of debt make a difference to debt/gdp ratios?Rob Rawlingsnoreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-17513306513083533802014-11-24T07:40:41.753-08:002014-11-24T07:40:41.753-08:00What is the difference in economic terms between t...What is the difference in economic terms between the CB directly purchasing govt debt and the CB indirectly purchasing it after the govt has first sold it the the public ?Rob Rawlingsnoreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-38921488457437551582014-11-24T02:54:21.159-08:002014-11-24T02:54:21.159-08:00FYI
"Given the rejection of the “funding com...FYI<br /><br />"Given the rejection of the “funding complex”, the practical issue was to devise a debt <br />management technique which facilitated keeping the public as liquid as they would like. <br />Keynes argued that the technique of the “tap issue” provided such a policy: “it is the <br />technique of the tap issue that has done the trick”.28 Under the tap system, the Government <br />announced the price and maturity of the bond being issued, but set no limits to the cash <br />amount of that issue. The “tap” of the bond issue was held open so individuals and <br />institutions could purchase when and whatever quantities they desired. The system, <br />therefore, enabled the public to choose the quantity of debt issued at each degree of liquidity, <br />at the price set by the Government."<br /><br />http://www.bis.org/publ/bppdf/bispap65c_rh.pdfPhilip Pilkingtonnoreply@blogger.com