Go big or go home, so the saying goes.
When discussing the idea of Puerto Rico’s independence, the question I get over and over is: “Where will the money come from?” While I have previously offered a few examples of economic plans, one idea that I’ve been keeping to myself for some time involves a new currency and the loathsome Federal Reserve.
First, a little bit on how money is made. In a simplistic nutshell, under the current Federal Reserve system, debt is created out of thin air and money is printed to fill the vacuum. In other words, the Federal Reserve issues debt for, say, US$1 trillion. The United States then “prints” that amount of money, and poof, money out of thin … debt.