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this is Richard Wolff from democracy at work responding to another ask Prof wolf question from a supporter of democracy at work namely David and I want to thank David for posing the question very simply and clearly what are the roles or the role if you like of U.S treasury bonds in the functioning the problems the failures of modern capitalism what are treasury bonds is where Im going to start because they are a very important part of the story treasury bonds are simply the borrowing by the United States government the U.S treasury to be particular a branch of the government in Washington D.C it borrows money in part to pay for the services it provides Social Security checks uh Manning the harbors regulating the businesses the defense department all of the things that the federal government does the many different things now lets be clear the government could pay for the services it provides by taxing governments do that on a regular basis the government of the United States has in v
