Ronin Truth
Banned
- Joined
- Oct 30, 2013
- Messages
- 22,510
Arguing with Rothbard is a total waste of time and effort. He's dead, and is still much more correct about things than you are.
Of Course the US Government Will Default on Its Debt
- Thread starter Ronin Truth
- Start date
Arguing with Rothbard is a total waste of time and effort. He's dead, and is still much more correct about things than you are.
FindLiberty
Member
- Joined
- Aug 7, 2007
- Messages
- 5,439
OK fine, 22 Trillion US Dollars was simply borrowed from the bank(s).
I hope they have more money to loan out, 'cause we still seem to be
coming up a tad bit short each year, with all the spending and wars.
All it takes is confidence that we'll make up these losses "in volume"
with possibly some moderate increases in spending. No worries then.
America is lucky to have rich friends with so much money in Reserve!
The bonus concept: No one is on the hook to pay it back, it's just there.
I hope they have more money to loan out, 'cause we still seem to be
coming up a tad bit short each year, with all the spending and wars.
All it takes is confidence that we'll make up these losses "in volume"
with possibly some moderate increases in spending. No worries then.
America is lucky to have rich friends with so much money in Reserve!
The bonus concept: No one is on the hook to pay it back, it's just there.
Ronin Truth
Banned
- Joined
- Oct 30, 2013
- Messages
- 22,510
Its "value" (so called
) is "the full faith and credit of the American people" backing (BS). 
http://www.dictionary.com/browse/full-faith-and-credit
https://cse.google.com/cse?cx=01011...g9EiI#gsc.tab=0&gsc.q=200 trillion&gsc.page=1
FindLiberty
Member
- Joined
- Aug 7, 2007
- Messages
- 5,439
... "the full faith and credit of the American people"
Exactly. No problem, no default. Keep the faith and we are good to go, forever!
Ronin Truth
Banned
- Joined
- Oct 30, 2013
- Messages
- 22,510
Are the Russian people on the hook for paying the defunct USSR government debts? I think not.
Default and repudiate!
timosman
Banned
- Joined
- Dec 28, 2011
- Messages
- 29,090
These guys claim each citizen can be used as a collateral - https://en.wikipedia.org/wiki/Redemption_movement
May explain the desire to keep the legal immigration scam going.
Voluntarist
Member
- Joined
- Sep 10, 2011
- Messages
- 3,841
xxxxx
Last edited:
FindLiberty
Member
- Joined
- Aug 7, 2007
- Messages
- 5,439
The Russians?
The crime was committed as the counterfeit money was
first produced and then it was used to do some pretty
good works (the roads) and bad works (such as wars).
Another example of "bad works" is the poison of social
aid programs. These are feel-good bribes that are highly
destructive and addictive one-way traps. No escape.
There is nothing to pay back; nobody is on-the-hook!
Sure, future promises rely on more money coming forth
such as paying interest on bonds, etc. No worries there,
they will just print some more. As the amounts get
higher, electronic currency is an obvious "enhancement".
More deception, investments and fancy schemes can
be layered upon the basic magic engine running
underneath, but it does not change anything...
The Russians?
Why piss off someone from another country that
gave up principle to "invest" in a T-Bill by saying
it is now worthless. That's just manipulative and
mean! Why stop now? Just print up some more
and hand it back to them. Any mistake was made
at the point of purchase if there has been a loss
of confidence (in the scheme continuing). There
aren't any better, more secure investments to
be found, anywhere in the world than the T-Bill!
Unfortunately, the whole monetary system is stuck
on-the-hook, addicted to and potentially lost forever
without continued "fixes". A clean needle won't help.
It can't be undone and turned off.
Can't pay off any $22T "loan" or somehow put it back.
(There would have to be a total collapse - No thanks!)
+++ edit: TRUST FUNDS
...................................................that's just a joke, right?
The crime was committed as the counterfeit money was
first produced and then it was used to do some pretty
good works (the roads) and bad works (such as wars).
Another example of "bad works" is the poison of social
aid programs. These are feel-good bribes that are highly
destructive and addictive one-way traps. No escape.
There is nothing to pay back; nobody is on-the-hook!
Sure, future promises rely on more money coming forth
such as paying interest on bonds, etc. No worries there,
they will just print some more. As the amounts get
higher, electronic currency is an obvious "enhancement".
More deception, investments and fancy schemes can
be layered upon the basic magic engine running
underneath, but it does not change anything...
The Russians?
Why piss off someone from another country that
gave up principle to "invest" in a T-Bill by saying
it is now worthless. That's just manipulative and
mean! Why stop now? Just print up some more
and hand it back to them. Any mistake was made
at the point of purchase if there has been a loss
of confidence (in the scheme continuing). There
aren't any better, more secure investments to
be found, anywhere in the world than the T-Bill!
Unfortunately, the whole monetary system is stuck
on-the-hook, addicted to and potentially lost forever
without continued "fixes". A clean needle won't help.
It can't be undone and turned off.
Can't pay off any $22T "loan" or somehow put it back.
(There would have to be a total collapse - No thanks!)
+++ edit: TRUST FUNDS
...................................................that's just a joke, right?
FindLiberty
Member
- Joined
- Aug 7, 2007
- Messages
- 5,439
"holdings - trust fund" are fancy words. I think
they mean unfunded liabilities... THAT'S EVERYTHING.
(again, there is no pile of money sitting there, waiting)
Just forget about killing this too-big-to-fail golden goose!
$122 trillion is not a problem once you see it for
what fun that it really is. $122,000,000,000,000.00
Watch it grow at this URL: (at page bottom, right)
http://www.usdebtclock.org/current-rates.html
they mean unfunded liabilities... THAT'S EVERYTHING.
(again, there is no pile of money sitting there, waiting)
Just forget about killing this too-big-to-fail golden goose!
$122 trillion is not a problem once you see it for
what fun that it really is. $122,000,000,000,000.00
Watch it grow at this URL: (at page bottom, right)
http://www.usdebtclock.org/current-rates.html
timosman
Banned
- Joined
- Dec 28, 2011
- Messages
- 29,090
Similar threads
