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re: Does anyone else not care if the national debt isn’t paid?
Posted on 10/21/18 at 11:44 am to BurningHeart
Posted on 10/21/18 at 11:44 am to BurningHeart
quote:
I don't like paying interest on it
Who is collecting the interest on this debt?
2
Posted on 10/21/18 at 11:47 am to Homesick Tiger
quote:
Credit shouldn't have ever been invented.
It needs to be responsibly used, but a world of no credit would be a world with a moribund economy. That’s just idiotic.
Posted on 10/21/18 at 11:48 am to RobbBobb
quote:
Who is collecting the interest on this debt?
The bond holders
Posted on 10/21/18 at 11:53 am to Parmen
quote:
I don’t ever spend time worrying about our national debt, like the vast majority of America. Most of our debt is owed to our institutions. If it goes unpaid, I honestly don’t care.
Did you not figure anything out after the 2008/2009 financial crisis? If those institutions are in the upper echelon of the banking/investment sector or deemed too big to fail we the taxpayers pick up the tab for their reckless behavior. Come on man!
Posted on 10/21/18 at 12:00 pm to Stingray
quote:
Printing money, a less obvious way to steal from the 401k, and keep the elders working.
This really goes over the average persons head. The devaluation of the USD is one of the primary reasons this Federal Reserve fiat currency scam works at all. At some point people en masses are going to catch on and demand change. Crypto currencies are beginning open a lot of people's eyes....., The Banksters don't like competition.
It was estimated that the Feds ZIRP policy costs prudent savers over 500 billion dollars...., that's probably low.
Posted on 10/21/18 at 12:00 pm to Parmen
I don't think you understand the significance of just not paying the US debt.
Aside from the moral hazard of not honoring our word, you are looking at a worldwide economic crisis as US government debt is the world's safe haven.
Second it means SS, Medicare would be a shell of what they currently are. You could not get new debt to pay for those services. Basically it would make the Great Depression look like child's play... But go ahead and just default on our debt... It sounds like a solid plan.
Aside from the moral hazard of not honoring our word, you are looking at a worldwide economic crisis as US government debt is the world's safe haven.
Second it means SS, Medicare would be a shell of what they currently are. You could not get new debt to pay for those services. Basically it would make the Great Depression look like child's play... But go ahead and just default on our debt... It sounds like a solid plan.
Posted on 10/21/18 at 12:05 pm to cwill
quote:
It needs to be responsibly used, but a world of no credit would be a world with a moribund economy. That’s just idiotic.
It's not credit that's to blame, it's the requirements to receive credit are too lax. I honestly don't think you should be able to get a car loan without 10% down, same thing with a mortgage..., he'll maybe 15-20% down that way it's much more difficult for lending institutions to be setting on bad loans that are then repackaged and sold to investors as high risk junk.
Posted on 10/21/18 at 12:06 pm to steadytiger
quote:
The bond holders
Like you and me?
So we are essentially paying money to ourselves, with a huge organization in the middle, taking its cut, to operate the whole thing?
Posted on 10/21/18 at 12:29 pm to GeorgePaton
quote:
As long as we lack a Gold Standard and the Federal Reserve is in charge of our monetary policy the national debt will NEVER be paid. The Federal Reserve is there to serve the needs of Washington politicians and the military/industrial complex, not the best interest of the American people. Take out a dollar bill and look at the face.....it says Federal Reserve Note. I rest my case.
I posted this in another thread.....
Paper no one will ever pay it down, no one ever ever ever ever will pay it down ever..........
Your money is paper and has no value per say they just keep chugging away printing more and more and more......paper.....China owns a ton just as most of the world does so none will call in the debt until the Globalist are installed and then it will be used to subjugate the planet.....but at the end of the day it is paper and has no intrinsic value...none.......
Posted on 10/21/18 at 12:36 pm to bengalfan50
quote:
China owns a ton
China owns 19%
All foreign govts together own 42%
Americans own 58%. So over half of our debt is interest that we are paying to ourselves, with a middle man taking a cut
Posted on 10/21/18 at 12:37 pm to RobbBobb
quote:
Americans own 58%. So over half of our debt is interest that we are paying to ourselves, with a middle man taking a cut
By middle man, do you mean people who own bonds?
Posted on 10/21/18 at 12:38 pm to Parmen
quote:
Does anyone else not care if the national debt isn’t paid?
Posted on 10/21/18 at 2:21 pm to Parmen
It will never get paid. Fiat currency and debt creation are the cornerstone of FED policy. Until we implement a new system it won't change. The system is set up to fail and benefit the money lenders.
Posted on 10/21/18 at 2:54 pm to Parmen
Sequestration doesnt work, it had the economy in a virtual chokehold.
Posted on 10/21/18 at 2:56 pm to RobbBobb
quote:
Who is collecting the interest on this debt?
Posted on 10/21/18 at 3:17 pm to TX Tiger
Who is collecting interest on bond debt?
Bond holders.
Bond holders.
Posted on 10/21/18 at 5:28 pm to Parmen
quote:
If it goes unpaid, I honestly don’t care.
You pay for it through inflation.
Posted on 10/21/18 at 5:30 pm to Parmen
Here
Posted on 10/23/18 at 1:12 pm to Antonio Moss
quote:
By middle man, do you mean people who own bonds?
How does me paying me, involve a middle man?
By middle man I meant the fed and the guv who tax us to pay off the interest, that they pay back to us, when we buy bonds. Its a corrupt system that employs vast numbers of people to send us tax bills, so they can transfer it to another huge group of people that sell, record, and distribute dividends on the money they just stole from us (at gunpoint, I might add)
Its very mafiaesque, when you think about it
Posted on 10/23/18 at 1:15 pm to cwill
quote:
That’s just idiotic.
A 20 trillion dollar deficit says not so fast.
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