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Started By
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re: I hope we offset our economic loss to erase the bond debt and crush the mother frickers...”
Posted on 4/2/20 at 7:52 am to AggieHank86
Posted on 4/2/20 at 7:52 am to AggieHank86
quote:
FDCP legislation is not covered in Torts class ...
Please explain what in the world FDCP legislation has anything to do with the topic of the OP
I could use a good morning stretch
0
Posted on 4/2/20 at 8:00 am to AggieHank86
quote:
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.
First of all,
This is a terrible way to address China. Far too much self inflicted harm. There are many better options.
However, if you just void the specific issuances China has title to, nobody buys, China remains the holder, China loses.
Posted on 4/2/20 at 8:26 am to AggieHank86
quote:
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.
And there would be no way for America to refuse to pay and debt China tries to sell off?
This post was edited on 4/2/20 at 8:26 am
Posted on 4/2/20 at 8:31 am to Azkiger
This isn't happening. Y'all are just wasting time discussing it.
Posted on 4/2/20 at 8:38 am to Janky
quote:
Y'all are just wasting time discussing it.
So, like 99% of all internet forum discussions?
Posted on 4/2/20 at 8:38 am to Azkiger
98.3%. Keep up.
Posted on 4/2/20 at 8:50 am to Turbeauxdog
quote:
However, if you just void the specific issuances China has title to, nobody buys, China remains the holder, China loses.
And the house of cards that is the USA grinds to a halt, no one else will touch our debt again and the dollar will lose its status as the worlds reserve currency which means we can no longer export our inflation to third world countries.
The results at home would be a massive shortfall in cash for FedGov requiring huge cutbacks in SS, medicare, and DOD along with giant tax inceases.
It would be the mother of all pyrrhic victories.
Posted on 4/2/20 at 9:11 am to OTIS2
quote:
I hope we offset our economic loss to erase the bond debt
no you don't!
Posted on 4/2/20 at 9:31 am to cave canem
quote:Can you elaborate?
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 9:33 am to cave canem
quote:
And the house of cards that is the USA grinds to a halt, no one else will touch our debt again and the dollar will lose its status as the worlds reserve currency which means we can no longer export our inflation to third world countries.
To be replaced by what? Aren’t pretty much all global currencies going into the same shitter right now?
Posted on 4/2/20 at 9:36 am to OTIS2
I swear that the average level of understanding on this forum of financial and economic issues does not extend very far beyond the price of a gallon of milk at the local 7-11.
Posted on 4/2/20 at 9:38 am to OTIS2
quote:
Is there an international court that can adjudicate such a claim? Serious question
Yeah. The only international court that matters, us. frick em. If we don’t want to pay them shite we don’t have to.
Posted on 4/2/20 at 9:40 am to Taxing Authority
It's noted above that the bond debt to the Chinese is only 1 trillion. Why would a court ordered offset of a legitimate (and relatively small) debt be so earth ending?
Has a world court ever ordered an offset of debt between countries before? I know we froze Iranian assets until BHO loaded a plane with cash at midnight? Any more comparable cases out there?
Has a world court ever ordered an offset of debt between countries before? I know we froze Iranian assets until BHO loaded a plane with cash at midnight? Any more comparable cases out there?
Posted on 4/2/20 at 9:41 am to Y.A. Tittle
quote:
To be replaced by what? Aren’t pretty much all global currencies going into the same shitter right now?
If I knew the answer for certian I would be sitting on my island surrounded by bathing beauties sipping umbrella drinks.
My guess is Renminbi or back to Gold were the greenback to go out of demand.
Posted on 4/2/20 at 9:42 am to OTIS2
quote:
and relatively small
You can't be serious.
Posted on 4/2/20 at 10:09 am to cave canem
quote:
And the house of cards that is the USA grinds to a halt, no one else will touch our debt again and the dollar will lose its status as the worlds reserve currency which means we can no longer export our inflation to third world countries.
Pretty sure I addressed this in the first part of my post.
Posted on 4/2/20 at 10:42 am to Turbeauxdog
nm
This post was edited on 4/2/20 at 11:01 am
Posted on 4/15/20 at 7:04 pm to OTIS2
Bumping this now that we can see just how bad...evil...China’s culpability is.
Posted on 4/15/20 at 7:51 pm to OTIS2
quote:
Someone skipped Torts far too many times and doesn’t know debt collector practice basics
Posted on 4/15/20 at 7:54 pm to OTIS2
quote:
international court that can adjudicate such a claim?
The full faith and credit of the United States of America’s atomic arsenal
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