Quote from Paul Lebow on 09/10/2020, 7:26 AM

Taxing the 1% is often given as the "solution" to address society's problems.  The 1% has about $25T in wealth.  I believe this should be done but wonder how the tax money would be forthcoming given that most of the wealth is tied up in non-liquid assets.  Even if forced to divest, who would be there to purchase these assets except the 1%?

The same question in terms of selling treasuries.  Unless the Fed violates the FR Act and directly funds government spending (through the primary dealers or not) who is going to step up to purchase and provide the vast amount of money needed to fund the GND, universal health care, infrastructure, education, etc?