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re: Interest on the debt is 60% of the Amount taken in by the Treasury in February
Posted on 5/9/24 at 9:20 pm to RiverCityTider
Posted on 5/9/24 at 9:20 pm to RiverCityTider
The amount taken in by the Treasury is immaterial. It's all based on the US' willingness to enforce our fiat currency as the world's reserve notes under threat of force from the US Military.
Stop asking about what we're going to do about the national debt and start asking about who the national debt is owed to.
Stop asking about what we're going to do about the national debt and start asking about who the national debt is owed to.
2
Posted on 5/9/24 at 9:27 pm to VoxDawg
quote:
The amount taken in by the Treasury is immaterial. It's all based on the US' willingness to enforce our fiat currency as the world's reserve notes under threat of force from the US Military.
Well the answer to that is we can't do that anymore. In fact, our aggressive foreign policy has caused the hold on reserve currency status to weaken further. Something like 58% of trade transactions are dollar denominated. It used to be much higher.
The US military won't save us. It's overrated anyway.
Posted on 5/10/24 at 6:15 am to VoxDawg
quote:
It's all based on the US' willingness to enforce our fiat currency as the world's reserve notes
quote:
"The government needs to drop its commitment to maintaining the dollar's reserve-currency status"
- Jared Bernstein chair of the United States Council of Economic Advisers
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