# Think Tank > Austrian Economics / Economic Theory >  Eliminating the national debt in no time at all...

## osan

There's been lots of hand-wringing about the national debt, not without basis so long as we play the game by Theire rules.

Departing from the rules, I see two ways of paying the national debt down in minutes.

The first method is the less viable method from the standpoint of anyone actually accepting it as doable.  The mint can mint coins in any denomination it chooses.  Mint $10 billion coins and distribute to all creditors.  Done.

The better method, the one that would provide long-term economic stability in financial terms, would be to peg every dollar in circulation to the US gold store.  It doesn't matter how many dollars are outstanding in the global economy and it doesn't matter how much gold.  You peg that number of dollars to that amount of gold and that number of dollars never grows.   That would de-ball the Fed in a moment and  in perpetuity so long as we stuck to the arrangement.  It would stabilize the economy and keep the spendthrifts on very short leashes.

Neither will happen, but it's nice to think on such things.

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## Warlord

Not this again

https://mises.org/power-market/craze...-proposal-back

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## Chester Copperpot

> Not this again
> 
> https://mises.org/power-market/craze...-proposal-back


its still a better idea than going thru the federal reserve

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## idiom

If we're not playing by the rules then just default it all.

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## DamianTV

Fire the Fed and IRS, return to Honest Money.

The only thing we owe them for is the the privilege of using the currency (not money, money is backed by something, *waits for Zippy*) to which they charge interest for that privilege.  If the US makes its own money (again, backed by something of value, not debt), then it owes ZERO interest.

The Federal Reserve Bank and IRS work hand in hand, which is why both systems were created at the same time.  What they have taken has been obtained by fraud, thus, the claim that the USA and its People owe things of value (houses, cars, businesses, property) to these phony institutions has no legal clam, thus, we do not owe a damn thing.

Stop paying them and shut them down.

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