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Re:Joint Statement by the Department of the Treasury, Federa... by runeks on Monday March 13, 2023 @01:14PM (#35138880)
> Does it? Or is this just how the system is currently designed?

It does in the sense that the US Government will default on its financial obligations if banks don’t use deposits to buy government bonds.

Re:Joint Statement by the Department of the Treasury, Federa... by dllthomas on Monday March 13, 2023 @02:34PM (#35140304)
I'm very much not saying that the outcome wouldn't be disastrous, but IME default is clearly unconstitutional, and so if statute and circumstance conspire to make default the only option then violating some statute to prevent default is appropriate, potentially to the point of just printing what we need to meet our obligations.