why should they get a pay raise when their bosses, we the people, are struggling to pay our bills. No pay raise, in fact, we need a freeze on pay until the national debt is paid down. We can't keep paying more and more money out of thin air and increasing the debt while everyday people are struggling and veterans are homeless. Solve some of the problems plaquing America and then we can address if a pay raise is warranted. Who gets a 40% pay raise in one swoop anyways. Only those that can give it to themselves without any regard to where it will come from.
The national debt isn't what you think it is. It is not something that can be payed down. It's another grand illusion perpetrated on the american people and is important every single citizen understand this in order to stop repeating this kind of sentiment.
The "debt" is the amount of currency in circulation, interest payment for this loan and some other legacy programs and entitlements, but by and large the debt is what is loaned to the American people from the federal reserve because in 1913 they removed the responsibility of congress to manage and create the federal currency.
To pay off the debt is in fact to remove or dissolve the federal reserve. Can't pay off a debt with what is the mechanism of that debt.
The "debt" is the amount of currency in circulation
No, currency is M1 money supply. The national debt is debt owed.
the debt is what is loaned to the American people from the federal reserve
The American people own some of the debt instruments (treasury securities), but also foreigners (Chyna), as well as the US gov't itself (so-called "non-marketable securities").
To pay off the debt is in fact to remove or dissolve the federal reserve.
Technically, the debt COULD be paid off without dissolving the Fed, but the problem would still exist -- the Fed creating money from nothing and earning massive amounts of free interest, making those who are insiders massively wealthy.
I do agree, the Federal Reserve must be abolished. This would eventually solve the problem.
Sure. Some of which you reference here is accurate in context. I wasn't going into details of securities and the like. That is a broader and more nuanced discussion.
Because it's called a debt does not make it a debt. It's a loan, of currency, fiat money, federal IOU on behalf of we the people to the owner, the federal reserve. If someone loans you are car, is it a debt? Do you pay that debt off with the same car.
How exactly then does the federal "debt" get paid off? How does America pay down the national debt? With dollars? Lol. Sure another tangible could be used, let's say gold. And now ripping off each American citizen twice by doing so.
default ----- if every knows it can't be paid off ----- there is no illusion ----- you loaned money to a bad borrower ---- default ---- people knew what they were getting into ---- default and move on
Seems like a lot of taxes are paid in every year but that money is abused and mishandled. The amount of money going to other countries is not the tax payers responsibility and neither should the debt from these bogus wars they have made.
That is another good example in a layer of the mess our monetary system is fundamentally based on. Making total some "debt" 1005 special tokens. Paying X fiat (debt) back in Y fiat (payment) with Z fiat (interest)
why should they get a pay raise when their bosses, we the people, are struggling to pay our bills. No pay raise, in fact, we need a freeze on pay until the national debt is paid down. We can't keep paying more and more money out of thin air and increasing the debt while everyday people are struggling and veterans are homeless. Solve some of the problems plaquing America and then we can address if a pay raise is warranted. Who gets a 40% pay raise in one swoop anyways. Only those that can give it to themselves without any regard to where it will come from.
The national debt isn't what you think it is. It is not something that can be payed down. It's another grand illusion perpetrated on the american people and is important every single citizen understand this in order to stop repeating this kind of sentiment.
The "debt" is the amount of currency in circulation, interest payment for this loan and some other legacy programs and entitlements, but by and large the debt is what is loaned to the American people from the federal reserve because in 1913 they removed the responsibility of congress to manage and create the federal currency.
To pay off the debt is in fact to remove or dissolve the federal reserve. Can't pay off a debt with what is the mechanism of that debt.
Of course, it can be paid down. It's a debt.
No, currency is M1 money supply. The national debt is debt owed.
The American people own some of the debt instruments (treasury securities), but also foreigners (Chyna), as well as the US gov't itself (so-called "non-marketable securities").
Technically, the debt COULD be paid off without dissolving the Fed, but the problem would still exist -- the Fed creating money from nothing and earning massive amounts of free interest, making those who are insiders massively wealthy.
I do agree, the Federal Reserve must be abolished. This would eventually solve the problem.
To whom is that money owed? Who had that big a pile of money in the first place just waiting to be lent to someone?
Exactly... This.
Sure. Some of which you reference here is accurate in context. I wasn't going into details of securities and the like. That is a broader and more nuanced discussion.
Because it's called a debt does not make it a debt. It's a loan, of currency, fiat money, federal IOU on behalf of we the people to the owner, the federal reserve. If someone loans you are car, is it a debt? Do you pay that debt off with the same car.
How exactly then does the federal "debt" get paid off? How does America pay down the national debt? With dollars? Lol. Sure another tangible could be used, let's say gold. And now ripping off each American citizen twice by doing so.
default ----- if every knows it can't be paid off ----- there is no illusion ----- you loaned money to a bad borrower ---- default ---- people knew what they were getting into ---- default and move on
Seems like a lot of taxes are paid in every year but that money is abused and mishandled. The amount of money going to other countries is not the tax payers responsibility and neither should the debt from these bogus wars they have made.
If I lend you 1000 of my special tokens and require you to pay them back with 5 tokens/year of interest, can you pay it off?
I think this is what u/dtxman75 is alluding to?
That is another good example in a layer of the mess our monetary system is fundamentally based on. Making total some "debt" 1005 special tokens. Paying X fiat (debt) back in Y fiat (payment) with Z fiat (interest)