There is talk now about paying off The US National debt with crypto (or a trillion dollar coin).
And there are many legitimate questions, that many do not feel are legitimate, like:
Many people feel, that if we took out the loan, we need to repay it. It is just what an honest person does.
Now, what if they held a gun to your head and said, sign the loan docs, or else?
What if the next step is pay this loan back, or we break your knee caps?
What if the next step is telling your child to pay back the loan, you were coerced to sign?
(these hypotheticals are no where dark enough to be close to reality)
Let us take a smaller version:
"Should young adults, who took out student loans to go to college, have to pay back those student loans?"
An analogy:
If i am the only grocery store in town, and i double all the prices on groceries, and i also have an introductory offer to get a credit card to buy these double priced groceries, do you feel you should pay back that loan? If you don't pay back the loan, the only grocery store in town is going to close.
What if i doubled the price of steaks, and cut them half as thick, too?
(now we are getting close to the facts)
Now, what if there was another grocery store in town, that wasn't jacking up their prices, but all the media said that it was bad, poisoned… and the first store parked their big rigs in front of it so you couldn't see it?
Further, lets say that the banks behind the credit cards, encouraged that grocery store to do this. In fact, paid the manager a lot of money to do it.
Then that bank used these grocery debts, repackaged them as bonds, and then sold those as investments to all of the town's retirement accounts.
That is what we are dealing with when we talk about student loans.
If it was a loan, signed in good faith, with a lender who was acting in good faith, then, by all means, the loans should be paid back.
But, what do you do with the above mess? The young adults did not get the education that they were promised. The degrees, instead, were worthless. All the colleges raised their tuitions. That money did not go to the classrooms. The banks got paid by both the students, and the people who bought the "bonds". And, all the "money" was printed out of thin air. And the gaslighting to the students is stuff of horror shows.
The problem is, that every FRN came into being from a bank/Fed loan.
So, every dollar The US owes was printed out of thin air by a bank/Fed.
It is probably best to think of the National Debt as the flip side of the coin to FRNs.
If we pay off the National Debt, say goodbye to those FRNs in circulation.
40 trillion dollars gone, poof!
The big problem is that there is always more debt than there are FRNs, because some is used to pay the interest.
So, we may not have enough dollars to pay the national debt. All the dollars in existence to poof if we pay it off.
So, the banksters got together on Jekyll Island, and made the plan to get a central bank into America. They created the Federal Reserve Bank. They had a person in congress champion it, and they had a person in congress argue against it. (yes, they were playing both sides) Then the banksters' politicians push it through near Christmas, when most of congress was at home. And Woodrow Wilson signs it (because his children were threatened if he didn't. allegedly)
All the big money people that were against a central bank, sank in a little "accident" with an iceberg.
The Infernal Revolting Syndicate was created that same year. So that there was some way to suck up the printed pieces of paper and create a demand for them.
Basically, we owe all the money in the world to the Fed, because we allowed it to be created. Its creation was done with much murder, threats and stealing.
The Fed said that they would stop the booms and the busts, but in reality made them worse. (and the banksters got rich off of them)
We owe a lot of money to the Fed, just as planned at its inception.
This is a hard one, because there is more debt then there are dollars. Someone(s) are going to left holding debt that will never be repaid. (can never be repaid). The 40 trillion is only a part of the debt owed. And, if The US moves to repay it by some means, that means the mortgages have no money to pay them with. The corporate bonds have no money to pay them with. The car loans have no money to pay them with.
Basically, it will become a money grab as banks try to grab as much as they can to balance their books and not go insolvent.
The banksters will try to get congress to make a law that mortgages have to be paid in "New Dollars" now. So, the world gets all the debts wiped out, except mortgage holders. We should make sure this doesn't happen.
Maybe. But i would prefer not to pay the Fed anything. They caused all this, let them reap what they've sown.
I would prefer that we created a plan to repay/default on all the loans equally. Remember, along with the banks losing, we also have all the retirees who rely on bonds to pay them monthly from their retirement savings.
The money we owe the Fed was gotten through deceit, coercion and other lies. So, any debts we have with them are null and void. And there should be trials for what they did.
Well, basically doing so is ending the Dollar. And there is so much fallout from doing that.
And, if we allow the banksters to do what they normally do, they leave the people holding the debt, and the banksters take all the assets. We must not allow that, else the next step will be defaulting again. We need to come to an comprehension that the banksters are evil, and we need to remove their bankster ways from our lives. From our govern-cements. From everything.
