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Started By
Message
I hope we offset our economic loss to erase the bond debt and crush the mother frickers...”
Posted on 4/2/20 at 6:24 am
Posted on 4/2/20 at 6:24 am
...back to the Iron Age.
This was a post of mine a few weeks ago.
Is there an international court that can adjudicate such a claim? Serious question.
This was a post of mine a few weeks ago.
Is there an international court that can adjudicate such a claim? Serious question.
This post was edited on 4/2/20 at 6:32 am
11
Posted on 4/2/20 at 6:40 am to OTIS2
quote:
I hope we offset our economic loss to erase the bond debt and crush the mother frickers...”
...back to the Iron Age.
This was a post of mine a few weeks ago.
Is there an international court that can adjudicate such a claim? Serious question.
Any attempt by the US to default on its bond debt would cause ripple effects you can not even begin to imagine.
Lots of bad things and some that are good IMHO would happen but the world economy as we know it would change that very instant.
Posted on 4/2/20 at 6:44 am to cave canem
Obtaining an offset against the bond debt is not a “default “. It’s the exercise of a legal right to assert a liquidated debt against the debt of one’s creditor.
Posted on 4/2/20 at 6:46 am to OTIS2
quote:
Is there an international court that can adjudicate such a claim? Serious question
Forget an international court. This is something you simply declare and impose.
As far as "ill effects", take 10% of that amount and redistribute it to the other top 5 holders of our debt in the form of a transfer payment.
We're 90% ahead, China gets its arse kicked, everyone is happy.
quote:
but the world economy as we know it would change that very instant.
It already has.
This post was edited on 4/2/20 at 6:52 am
Posted on 4/2/20 at 6:50 am to OTIS2
Not servicing our bond debt is a scary thought.
However, if we quantify the actual loss, and make a claim against the debt to offset it, it wouldn’t exactly be a default.
The world would see it our way if we quantified their loss too and provided aid.
China needs to be held accountable at some level for a worldwide panic. If this originated in the US every country would be lining up with their handout like US small businesses are now. And we would pay. China is way too powerful of a country to continue letting them play by third world rules, just because they keep such a high level of their population in poverty.
However, if we quantify the actual loss, and make a claim against the debt to offset it, it wouldn’t exactly be a default.
The world would see it our way if we quantified their loss too and provided aid.
China needs to be held accountable at some level for a worldwide panic. If this originated in the US every country would be lining up with their handout like US small businesses are now. And we would pay. China is way too powerful of a country to continue letting them play by third world rules, just because they keep such a high level of their population in poverty.
This post was edited on 4/2/20 at 7:07 am
Posted on 4/2/20 at 7:06 am to OTIS2
China doesn't hold as much of our debt as they used to hold.
Japan holds more than China
Japan 1.2 Trillion
China 1.0 Trillion
Most of the US debt is owed to ourselves.
Treasury owes 6 Trillion to other government agencies.
3 Trillion of that is owed to Social Security
In all the US public is owed 17 Trillion of the debt.
Which is funny when you think that it is the US public who owes the debt to the government which owes it back to the public which owes it back to the government ...
Japan holds more than China
Japan 1.2 Trillion
China 1.0 Trillion
Most of the US debt is owed to ourselves.
Treasury owes 6 Trillion to other government agencies.
3 Trillion of that is owed to Social Security
In all the US public is owed 17 Trillion of the debt.
Which is funny when you think that it is the US public who owes the debt to the government which owes it back to the public which owes it back to the government ...
Posted on 4/2/20 at 7:13 am to Loserman
quote:
China 1.0 Trillion
If this is true (not doubting just not looking it up), that is a negotiable number.
Trump wanted to be tough on China, here is his chance. The entire world knows they lied. The memes are funny but if they don’t have some level of accountability they will walk all over the rest of the world.
Posted on 4/2/20 at 7:27 am to OTIS2
quote:
This was a post of mine a few weeks ago.
Well it was stupid then and it's still stupid now. Not sure why you feel we give a shite though.
Posted on 4/2/20 at 7:29 am to OTIS2
quote:
Is there an international court that can adjudicate such a claim?
The International Court of Justice (not to be confused with the Superfriends' Hall of Justice)
Posted on 4/2/20 at 7:35 am to OTIS2
quote:Someone cut class on the day they covered Negotiable Debt Instruments. They do teach that at LSU, do they not?
I hope we offset our economic loss to erase the bond debt and crush the mother frickers
The Basics:
Most US debt is not payable to “China,” but rather to the “holder.” If the US were to attempt your moronic proposal, it would have ZERO effect.
If “China” held a $100 debt instrument, they would simply sell it to “Czechia” for $99.95, and Czechia would get paid by the US ... with a small profit.
This post was edited on 4/2/20 at 7:41 am
Posted on 4/2/20 at 7:36 am to EarlyCuyler3
Explain your position. Why is liquidating the loss to the U.S. by China stupid?
And why is satisfying that liquidated debt also stupid?
And why is satisfying that liquidated debt also stupid?
Posted on 4/2/20 at 7:36 am to EarlyCuyler3
quote:
Well it was stupid then and it's still stupid now. Not sure why you feel we give a shite though.
You sure do spend a lot of your time here considering you basically just call everyone stupid
Seems like you could find a place on the internet with more interesting content. Perhaps a YouTube wormhole into the Doobie Brothers?
Posted on 4/2/20 at 7:38 am to OceanMan
quote:
You sure do spend a lot of your time here considering you basically just call everyone stupid
That's on them, I can't help they're stupid. I'm getting paid to do it.
Posted on 4/2/20 at 7:38 am to Loserman
quote:
In all the US public is owed 17 Trillion of the debt.
Which is funny when you think that it is the US public who owes the debt to the government which owes it back to the public which owes it back to the government ...
Stop, I'm getting dizzy
Posted on 4/2/20 at 7:38 am to OceanMan
quote:
Not servicing our bond debt is a scary thought.
I’m not at the point of endorsing this as an alternative, but we are quickly reaching the point if we haven’t already, where any possible way of getting us out if this mess is going to be scary if not downright terrifying.
I mean, what’s the benign “solution” here to any of this at this point?
Posted on 4/2/20 at 7:38 am to AggieHank86
Someone skipped Torts far too many times and doesn’t know debt collector practice basics enough to comment about it .
Posted on 4/2/20 at 7:42 am to OTIS2
quote:FDCP legislation is not covered in Torts class ... assuming you went to law school, which seems vanishingly unlikely.
Someone skipped Torts far too many times and doesn’t know debt collector practice basics enough to comment about it .
This post was edited on 4/2/20 at 7:44 am
Posted on 4/2/20 at 7:45 am to AggieHank86
My postings in this topic aren’t narrowed to only FDCPA, which has zero application in an international debt dispute, Aggie. Go frick a goat, yell leader.
This post was edited on 4/2/20 at 8:10 am
Posted on 4/2/20 at 7:47 am to OTIS2
You are the one who raised the “debt collector practices” as an issue, dimwit.
US debt largely takes the form of negotiable instruments payable to the “holder.”. Your “proposal” is braindead-level stupid.
US debt largely takes the form of negotiable instruments payable to the “holder.”. Your “proposal” is braindead-level stupid.
This post was edited on 4/2/20 at 7:52 am
Posted on 4/2/20 at 7:47 am to AggieHank86
Nope
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