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.....I think it's safe to say that we can write off any debt owed to the FED for those wars as cited under Odious Debt...read here:
Odious debt
In international law, odious debt is a legal theory which holds that the national debt incurred by a regime for purposes that do not serve the best interests of the nation, such as wars of aggression, should not be enforceable. Such debts are thus considered by this doctrine to be personal debts of the regime that incurred them(as in the FED) and not debts of the state. In some respects, the concept is analogous to the invalidity of contracts signed under coercion.
When a despotic regime contracts a debt, not for the needs or in the interests of the state, but rather to strengthen itself(the FED), to suppress a popular insurrection, etc, this debt is odious for the people of the entire state(USA). This debt does not bind the nation; it is a debt of the regime, a personal debt contracted by the ruler, and consequently it falls with the demise of the regime. The reason why these odious debts cannot attach to the territory of the state is that they do not fulfil one of the conditions determining the lawfulness of State debts, namely that State debts must be incurred, and the proceeds used, for the needs and in the interests of the State. Odious debts, contracted and utilised for purposes which, to the lenders' knowledge, are contrary to the needs and the interests of the nation, are not binding on the nation – when it succeeds in overthrowing the government that contracted them – unless the debt is within the limits of real advantages that these debts might have afforded. The lenders have committed a hostile act against the people, they cannot expect a nation which has freed itself of a despotic regime to assume these odious debts, which are the personal debts of the ruler.[1]
Patricia Adams, executive director of Probe International (an environmental and public policy advocacy organisation in Canada), and author of Odious Debts: Loose Lending, Corruption, and the Third World's Environmental Legacy, has stated that:
by giving creditors an incentive to lend only for purposes that are transparent and of public benefit, future tyrants will lose their ability to finance their armies, and thus the war on terror and the cause of world peace will be better served.
A recent article by economists Seema Jayachandran and Michael Kremer has renewed interest in this topic.[citation needed] They propose that the idea can be used to create a new type of economic sanction to block further borrowing by dictators
Repudiating our debt would make it impossible to borrow more money, which would basically make it impossible to pay for the federal government, including the military.
Repudiating our debt would make it impossible to borrow more money, which would basically make it impossible to pay for the federal government, including the military.
.....I think it's safe to say that we can write off any debt owed to the FED for those wars as cited under Odious Debt...read here:
Odious debt
In international law, odious debt is a legal theory which holds that the national debt incurred by a regime for purposes that do not serve the best interests of the nation, such as wars of aggression, should not be enforceable. Such debts are thus considered by this doctrine to be personal debts of the regime that incurred them(as in the FED) and not debts of the state. In some respects, the concept is analogous to the invalidity of contracts signed under coercion.
When a despotic regime contracts a debt, not for the needs or in the interests of the state, but rather to strengthen itself(the FED), to suppress a popular insurrection, etc, this debt is odious for the people of the entire state(USA). This debt does not bind the nation; it is a debt of the regime, a personal debt contracted by the ruler, and consequently it falls with the demise of the regime. The reason why these odious debts cannot attach to the territory of the state is that they do not fulfil one of the conditions determining the lawfulness of State debts, namely that State debts must be incurred, and the proceeds used, for the needs and in the interests of the State. Odious debts, contracted and utilised for purposes which, to the lenders' knowledge, are contrary to the needs and the interests of the nation, are not binding on the nation – when it succeeds in overthrowing the government that contracted them – unless the debt is within the limits of real advantages that these debts might have afforded. The lenders have committed a hostile act against the people, they cannot expect a nation which has freed itself of a despotic regime to assume these odious debts, which are the personal debts of the ruler.[1]
Patricia Adams, executive director of Probe International (an environmental and public policy advocacy organisation in Canada), and author of Odious Debts: Loose Lending, Corruption, and the Third World's Environmental Legacy, has stated that:
by giving creditors an incentive to lend only for purposes that are transparent and of public benefit, future tyrants will lose their ability to finance their armies, and thus the war on terror and the cause of world peace will be better served.
A recent article by economists Seema Jayachandran and Michael Kremer has renewed interest in this topic.[citation needed] They propose that the idea can be used to create a new type of economic sanction to block further borrowing by dictators
Interesting. Thank you for researching this Horsemen. I do hope we get some thoughts.
We are the main perpetrator of war and destruction around the world, when we're done who's going to carry the torch?!?!
China. and I heard they get Medieval on that ass..lol
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