So, rather than doing a bond-swap for the entire landmass of the United States, perhaps we should take control over the bond market.
There are inflationary concerns when bond-owners sell bonds for USD and spend it.
Therefore, I invented a "Federal Credit Receipt" which is a new monetary instrument to structure the value transfers.
As a "pilot program", and to work through the details while legislation is written, I am suggesting this:
Social Security Administration (SSA) turns in a few of the bonds in their portfolio for a Federal Credit Receipt (FCR). We create a Texas Stock Market in San Antonio and redeem the FCR for ownership in that income-producing asset. SSA then owns at least part of the Texas Stock Market and the debt is retired.
Please pass this around. I think Goldman Sachs is the appropriate company for this plan. I need some assistance in Austin, quickly.
Andrew B. Brown
10723 River Plantation Drive
Austin, Texas 78747