X22 Report claims Trump can void most of the national debt thanks to the 14th Amendment. How true is that?
(twitter.com)
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I'm all for cancelling the debt.
How would it work? The US currently incurs the debt by issuing treasury bonds.
If we say "we're cancelling 11 trillion of debt incurred since Obama was first elected, minus Trump's terms", functionally the only way to handle that would be to honor some of the T-bills that were issued, and cancel others?
Sounds way too messy. I foresee allowing the currency fail, replacing federal reserve notes with US issued currency, would be way less messy than picking and choosing which T-bills to honor.
China has about 3.5 trillion in US reserve currency, we could certainly cancel all that because their actions against the US were an act of war.
I like the idea of invoking the executive order about seizing the assets of those who violated human rights. That could pay the national debt right there.
We could solve it with a series of cage matches.
Two biggest debt holders send representatives to fight. Whoever loses has their debt voided. Work our way down the list until a sizeable percentage is paid off.
The rest we can pay off with selling tickets and the pay per view revenue.