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Old 10-04-2013, 10:16 PM
 
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Minnesota, Wisconisn and Michigan go to our wealthy neighbors to the north, Canada. Would you sign off on that if Canada agreed to pay off our national debt within say 30 years?
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Old 10-04-2013, 10:17 PM
 
82 posts, read 45,360 times
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Quote:
Originally Posted by PullMyFinger View Post
Minnesota, Wisconisn and Michigan go to our wealthy neighbors to the north, Canada. Would you sign off on that if Canada agreed to pay off our national debt within say 30 years?
No.
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Old 10-04-2013, 10:20 PM
Status: "Has your vaxx worn off yet?" (set 21 days ago)
 
39,282 posts, read 21,389,843 times
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Id offer up the district of columbia, but who would want it?
Anyway the idea is ridiculous on its face.
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Old 10-04-2013, 10:20 PM
 
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No, but I'd be willing to deal for NJ, NY, Alabama, and Florida.
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Old 10-04-2013, 10:21 PM
 
Location: Never Never Land
1,312 posts, read 1,009,667 times
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Maryland can go away too
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Old 10-04-2013, 10:31 PM
 
Location: Pacific NW
9,434 posts, read 6,683,008 times
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Sure, sell California to Mexico. They seem to be trying to colonize it anyway, might as well make them pay for it.

Or maybe Obama could sell the 51-57th states, he got people to buy off on his "transparent" administration, he's clearly experienced in selling things that don't exist.
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Old 10-04-2013, 10:33 PM
 
23,373 posts, read 13,920,671 times
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Quote:
Originally Posted by nybbler View Post
No, but I'd be willing to deal for NJ, NY, Alabama, and Florida.
Geographically that wouldn't really work would it? Really, how much would the country miss those states I mentioned?
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Old 10-04-2013, 10:34 PM
 
Location: Prepperland
15,905 posts, read 11,639,315 times
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I think we should be clear on terminology.

If you are referring to the national debt, denominated in dollars, in excess of 16 trillion, then you cannot sell off "states" to pay it.

Why?

Because the debt computes to over 800 billion ounces of gold bullion stamped into coin.
"Dollar bills" are not dollars, but worthless IOUs. They are part of the debt, and cannot pay it.

As to gold bullion, there are several problems.
Fort Knox has only 147.4 million ounces (allegedly).
World wide supply is estimated at 5.6 billion ounces - a major shortfall.
Which raises the question, exactly what did Congress borrow to rack up owing so much?

(We're not allowed to question the validity of the public debt, pursuant to clause 4, 14th amendment, USCON)

The next question: who are the parties liable on that debt?

According to Title 12 USC Sec. 411, the government is an obligated party.
According to FICA (social security act of 1935), each "contributor" is also liable.
In other words, the 312 million enumerated "human resources" are pledged as collateral on that debt.
(Of course, everyone volunteered, right?)

So if folks wanted to get ahead of the curve, so to speak, a wholesale withdrawal from FICA would suffice. Not only would it save the people from the consequences of default, but it would collapse the regime in short order. I would not be surprised if the whole government resigned en masse and fled to countries that did not extradite to the USA. Sadly, it would also vaporize the "paper wealth" held by the billionaires and millionaires. Without enough human collateral, those worthless IOUs (notes) have no par value.

References:
U.S. Constitution, Art. 1, Sec. 10
Coinage Act of 1792, of 1873
Federal Reserve Act of 1913, Title 12 USC Sec. 411
House Joint Resolution 192, June 1933
Federal Insurance Contribution Act of 1935
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Old 10-04-2013, 10:42 PM
 
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I wasn't aware Canada was in the market for our states.

I also wasn't aware they had this much money.
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Old 10-04-2013, 10:43 PM
 
23,373 posts, read 13,920,671 times
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Originally Posted by Minethatbird View Post
I wasn't aware Canada was in the market for our states.

I also wasn't aware they had this much money.

Canada and Norway are about the richest countries in the world. They do a good job of hiding it.

But that wasn't the question. What would your answer be to a hypothetical question like this?
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