having value. Not much to go on there in my opinion, but it seems to work. If I was worried about the fiat currency system collapsing, I certainly wouldn't buy gold though. I would buy canned food, since at least if it lost value relative to other goods and services, canned food would retain some value to me as a form of sustenance. Guns and ammo should retain some value too I guess. Tom Hickey -- I am aware of the theory from which come your comment on my statement: This can be funded by short-term public debt as long as the size of the public sector (government) budget is not excessive in relation to the total economy. The ideas you express are largely a summary of Warren Mosler's writing on the subject of public debt. Please explain precisely and concisely what you and Warren Mosler propose. What I propose is no-bonds and consolidating the Treasury and Fed, letting Congress manage the economy using fiscal policy by relying on Abba Lerner's principles of functional finance updated, along with economic analysis based on operational reality as described by MMT through national accounting identities, the sectoral balance approach, and stock-flow consistent macro models, with the goal of achieving optimal capacity utilization/full employment together with price stability. Congress should also adopt a Minskian approach to horizontal money creation and the use of leverage to prevent financial instability arising due to the financial cycle. I would also qualify functional finance to target taxation and