Forgiving US Debt, someday? (Congress, drugs, weapons, Brown)
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So the US National debt is about 10 Trillion now and rising. Interest alone on this debt takes up roughly 20% of the annual budget (ouch). Money like this is so huge it is almost nebulous.
So my speculation is: is there a scenario in the coming decades where some of this debt is written-off in return for other favors? The US will still have the strongest technological military well into the future, and is still arguably the most important ally to have geopolitically.
Japan and China are by far the largest debtees, perhaps Japan in particular might want to take us up on a deal?
Could it occur only in dire circumstances? Thoughts? Ideas?
I don't understand the question. If the US owes money, how does the US write off the debt? Can I tell MasterCard that I don't owe them any more money because I've magnanimously forgiven the debt?
I don't understand the question. If the US owes money, how does the US write off the debt? Can I tell MasterCard that I don't owe them any more money because I've magnanimously forgiven the debt?
Two ways come to mind, neither of which you have the power to pull on MasterCard.
The US can cancel it's debt by simply revaluing the monetary system such as Mexico did a few decades ago, and some other countries have done more recently. It publishes an announcement that the new US monetary system is based on Enriched Uranium and all prior paper is being replaced with the new currency at 2.5 cents on the dollar. This creates a new basis for trade with limited availability outside of a few major powers and much of the resource within the control of the US, revalues any recognized debt to a much lower amount that can be easily paid off with the new currency or actual Enriched Uranium as the situation dictates.
Or it can simply reconstitute the government and declare all past debt invalid and start over as the New Socialist United States of America with a nationalized ownership system. Try to foreclose on something the government says it owns and see how far you get.
I don't understand the question. If the US owes money, how does the US write off the debt? Can I tell MasterCard that I don't owe them any more money because I've magnanimously forgiven the debt?
Come on JT, you're smarter than this. The debtee (ex. Japan) would forgive/write-off some of the debt in return for a favor from the US.
Come on JT, you're smarter than this. The debtee (ex. Japan) would forgive/write-off some of the debt in return for a favor from the US.
Oh, I see. You mean, we could ask them to. Make some kind of a deal where we give them something else of value, instead of money. Like what, for example? We already guarantee their defense, as part of their disarmament treaty. I don't think they want a million US Peace Corps volunteers over there. We don't need to ship them condoms or AIDS drugs. What do we have that the Japanese could possibly want? Big Macs? Cadillac Escalades and Ford Broncos? Nuclear weapons? That would be a big hit. Let them kill whales?
Oh, I see. You mean, we could ask them to. Make some kind of a deal where we give them something else of value, instead of money. Like what, for example? We already guarantee their defense, as part of their disarmament treaty. I don't think they want a million US Peace Corps volunteers over there. We don't need to ship them condoms or AIDS drugs. What do we have that the Japanese could possibly want? Big Macs? Cadillac Escalades and Ford Broncos? Nuclear weapons? That would be a big hit. Let them kill whales?
They might go for the nukes, or our blessing to continue whaling, or maybe just some baseball players and pop stars. Japan does have alot of needs though, they import most of their energy.
But I don't know, I just can't see the debt ever being paid off... It would probably be a World War III scenario where alliances are broken.
Oh well, a dud of a thread I guess. People are consumed talking about brown or white people these days.
This all depends on whether you believe that Government debt is the same as The People's debt. Do you believe that individual's are liable for the Government's expenditures? Even if this debt is incurred for things which you are not actually liable for?
Also, who is this debt actually owed to? Do the people have a duty to borrow counterfeit currency from the Federal Reserve to give it to Government to spend? (Even if virtually all spending that is done is outside of the powers of Article 1 Section 8?) How about paying interest on the non-existent capital for these "loans"? Constitutionally, only the Congress has the power to create currency. A REAL currency too, not a fiat currency. Untold pages of this forum could be filled with the vast arguments provided by the founders against any creation of fiat, or as they called it "paper" money, and their complete disdain and fear of a Central Bank.
The fact remains, that at any time, Congress has the authority to abolish the magic green toilet paper and reinstitute Constitutional currency. We have plenty of weapons to defend ourselves from the international Money Cartel, and could simply cast them aside as the useless parasites that they truly are. The problem is that "our" government is entirely funded by the counterfeiting operation that really runs the show. However, there is no absolute reason that we cannot simply remove these shackles of bondage to the money changers of the world whenever we find the courage to do so.
This all depends on whether you believe that Government debt is the same as The People's debt. .
Yes, it is the same. That is the central precept of the definitions of terms like Democracy, Representative, Republic.
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Japan does have alot of needs though, they import most of their energy. 
