George Bush gave everyone $600 … to no effect.
Obama gave taxpayers billions in tax credits as well as incentives to buy new cars … also not much effect. These handouts didn’t work because they can’t work, not like the author suggests. One reason is because the ‘free gifts’ aren’t large enough. The government/central bank would have to give out $100k each. Who gets that? Cronies? That’s how it works now. Bank depositors? The effect would be to reduce depositors’ dollar purchasing power by a significant percentage. It would be a) a scam, b) an act of desperation indicating the establishment had lost their minds/the plot.
The Feds already give out trillion$ free: Social Security, Medicare, food stamps. tax expenditures, Section 8, school lunches, mortgage interest deductions, grants, etc. The government spends trillions every year into the economy; enough to pay the interest on its own- as well as the private sector’s debts.
The US government does not ‘create’ its own money but borrows instead from finance. Every dollar spent — by everyone — is someone else’s unpaid debt. This isn’t an innovation but rather the way funds have been created since the beginning of time including gold and silver money. Borrowing the money to hand out to nobody in particular means everyone including the recipient falls deeper into debt. The government after all is nothing more than an agent for us. The only way to service and retire the debt under that circumstance would be for the government — us — to borrow even more.
So, the idea you can borrow from yourself to improve your economic standing is pretty silly. It’s like bending over, grabbing the soles of your feet and lifting up in order to fly.