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[–] greycloud ago 

banks are not math. the federal bank is privately owned. as such the government has no onus to pay back any dumb loans that this private institution gave to the US government. imagine you lent a retarded 5 year old kid 100 dollars in a single 100 dollar bill. the kid promptly tears it in half and eats half of the bill. can you reasonably expect the kid to pay back that money? who's fault is that? is it the kid's fault because he took the loan, or is it your fault for lending money to someone that you knew could not pay it back?

the current debt could not be payed if all US liquid currency was collected from the world and all of the gold was collected from the world and given to the federal bank. obviously that won't be done. and yet the fed is still lending money to the US. if the US never pays back the fed, who's fault is it that the fed gave the loan to the US who they know cannot possibly pay back their current debt?

this article wants to paint it as math. its not math. the fiat system is rigged. math is 100-90=10. but in the current banking and money system 100 - 90 = whatever the fuck they want it to equal and they can just print more money to make it that.

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[–] daskapitalist 0 points 1 point (+1|-0) ago 

Spending has to be cut, and dramatically. Social Security, Medicare, and the DoD. Pick one tp absolutely gut. It's the only way to fix the US Federal Budget's flood of red ink.