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[–] SumerBreeze ago (edited ago)
Our financial system is based on perpetual debt - if we paid off the “debt” we would be absolutely destroyed and worthless!
Don’t you understand how fiat money works? It’s all imaginary, it’s not backed by anything of actual value.
This is how “the West” was won and how everything in America was created and developed so quickly; with money that constantly turned out to be backed by ever-diminishing fractions of worth, ultimately becoming based on bonds and made-up numbers.
The proverbial carrot made us American donkeys the hardest working and developed country in the world, and the rest of the world caught on to this scheme after WW2.
[–] nonanonanon ago
I would just give China the bill for ‘Clovis’ and tell them we’re deducting it from the amount owed them.
[–] Steinmacher ago
Good. Soon the fed will have to file bankruptcy.
[–] derram ago
https://archive.ph/wip/pC7vK :
'The national debt has increased by $5.2 trillion since President Donald Trump took office. '
'According to the Peter G. Peterson Foundation, a non-partisan fiscal watchdog, the national debt rose from more than $19.9 trillion on January 20, 2017 to more than $25.2 trillion Wednesday. '
'"I'm renegotiating all of our deals, the big trade deals that we're doing so badly on. '
'The increase follows Trump's comments, highlighted in an interview the then-presidential candidate gave to the Washington Post, that he would eliminate the United States' national debt "over a period of eight years" in part by reducing or eliminating trade deals with various countries, including China. ', "The bill's biggest challenge will be in the Senate where Republicans have a majority and can delay the bill."
This has been an automated message.
[–] fusir ago
How much does the private market owe to the Fed, if we aren't expected to pay it back, how much money was gifted to the banks?
I bet a lot more than $5.2 trillion. Our nation is in debt more ways than one.
[–] Tallest_Skil ago
Every dollar in existence.