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Old 05-24-2018, 09:03 PM
 
17,752 posts, read 15,083,249 times
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Quote:
Originally Posted by LifeIsGood01 View Post
The debt means nothing, If America fails the world will go into a huge depression, we are too big to fail. Money is not a real thing, it's something created by man to barter with.

Its even more than that. If da guberment didn't have any debt, how would you get that dollar bill in your pocket? Its a Federal Reserve Note. What does a bank note mean? How do those Federal Reserve notes get onto circulation? It buys Treasuries. It means that its backed by da guberment debt. If there were no debt, there would be no money. We pass IOUS back and forth.


Paying down the debt would be like a rain storm in a desert where the financial system is based on bottled water. How much for the goat? 100 bottles of water. How much for the oasis? 1 million bottles of water. How much for the women?....

Now in a desert people like water . From one point of view it would be great. However all debts and representative wealth would be completely wiped out, and anyone with bottled water could not buy anything. They'd be broke. Water would keep it vital utility but without being scarce it would lose all value, It would be a chaotic scramble to find a replacement. If radio active control rods were used as money, it becomes much harder to dispose of it. How can you pay off the debt when its the money?
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