Leftwing Policies Bankrupting The Nation: National Debt Jumps Nearly $100 Billion In One Day To Record High (Baby Boomers, illegal)

[PedroMartinez]

Originally Posted by t206

Do you honestly believe that we can just print all we want and people will continue to accept it at face value? I fear that many people actually believe this and have no concept of what could truly happen.

The US enjoys the perks that come with stability and a currency used for a lot of international trade; however, as our debt increases, the temptation to use something else increases as well.

Unless things change, it's only a matter of time when this is no longer the situation. At that point, you'll see a real collapse in our economy that will include massive riots where thousands die.

We will then hear the cries of the big government types "How could this have happened" quickly followed by "We need more government control and spending to fix this along with greater taxes on the rich and corporations." They will never learn.

[Hoonose]

Originally Posted by pknopp

Perhaps all of the above.

I already did. Greece could print billions of dollars also but no one is going to accept them as payment.

China

Just a start.

No. Greece cannot print USD. Where do you get such a notion?

[irspow]

Well, just for kicks...

The US spends about 223 billion a year to pay usury fees to those who counterfeit the fiat currency for their service every year. Given that the average person earns about 30 thousand a year.

We effectively roll about 200 thousand American corpses into mass graves every year to donate to the Central Banking Families and their friends for their "service" to the American people. Have a happy 4th!

And that is just for "interest" But we lose far far more through devaluation, taxation, and legalized counterfeiting...

[pknopp]

Originally Posted by Hoonose

No. Greece cannot print USD. Where do you get such a notion?

I don't play these stupid games.

[Hoonose]

Originally Posted by pknopp

I don't play these stupid games.

You just write that way I guess.

[le roi]

Originally Posted by pknopp

I already did. Greece could print billions of dollars also but no one is going to accept them as payment.

No, Greece cannot print dollars.

Greece cannot even print Euros, which is its official currency.

China

Just a start.

Irrelevant to the topic at hand.

[le roi]

Originally Posted by t206

Do you honestly believe that we can just print all we want

We own the U.S. Dollar, and as such we can create as much or as little of it as we want, yes.

and people will continue to accept it at face value?

This is meaningless. The face value of $1 will continue to be $1, regardless of the purchasing power of $1.

I fear that many people actually believe this and have no concept of what could truly happen.

I fear that many people don't even understand the ABC's of how currencies work, and operate mainly on misinformation, fear, and vague predictions.

[pknopp]

Originally Posted by le roi

No, Greece cannot print dollars.

They can call whatever they print whatever they want.

I didn't expect you to actually address China's steps to displace the dollar.

[le roi]

Originally Posted by pknopp

They can call whatever they print whatever they want.

And they don't call their currency "dollars."

Greece uses the Euro. And they do not have the ability to print Euros.

I didn't expect you to actually address China's steps to displace the dollar.

The link you just posted in no way indicates "China is displacing the dollar."

If you think it does you should probably do a better job of explaining your line of thought.

[pknopp]

Originally Posted by le roi

And they don't call their currency "dollars."



The link you just posted in no way indicates "China is displacing the dollar."

If you think it does you should probably do a better job of explaining your line of thought.

Ignore it if you wish. This will take longer but I was told over and over and over that I was wrong when I said oil would collapse as soon as Q.E. ended.

I'm patient.