We are a warring nation... We will start WW3, before we default. Nothing like kicking several other countries asses on a defense budget of debt... to take all they have and dig us out of our problem. What sucks is... our 18 years old's will die for it. .....
We can never pay off out debt --our gold reserved don't even come close. When the rest of the world realizes we are broke and dumps the dollar all hell breaks loose in the US, you think the great depression's bad you ain't seen nothing yet. The cities will empty as roaming bands of thugs will try to steal what you have. The only thing keeping this country together has been an economy fairly stable and we have been able to payoff a segment of nonworking worthless people to keep them in line. I hope you are well armed and ready when to happens I don't know but it will
It's all a game of money movement. Yes, we have loans to other countries but all of those trillions aren't money we owe. Much of it is wheeling and dealing with commodities and defaulted loans TO us, but it goes into the debt column. The numbers are also skewed by the current dollar value. At the end of the day, global economics are a chess game. We owe them, they owe us, and at some point trades happen that offsets some of the cash amount. Will China declare war over a few hundred billion we owe them? No. That would guarantee they would never get paid. To better understand global economics you have to stop thinking like Joe Homeowner who owes money for a car and a house. When governments owe "money" it almost always gets offset by commodities or even services. South Korea owes us for years of protecting them but we will never see a dime in cash, but rather low or no tariffs on goods we sell them and preferred buyer status on the cheap electronics like Samsung that we buy from them. In 1993 we crossed a line: there was more dollars owed than there were dollars, and it certainly hasn't gotten better.
We can all pretend that the USD is all powerful and everlasting, but we all know otherwise...or we wouldn't be here talking about it. The USD is going down someday, cause you can't keep this Ponzi Scheme going forever. The printing of fiat money by the US is destroying the value of the $ and we are borrowing a couple of TRILLION each and every year. We now owe 36 TRILLION and the debt is growing. When is this bubble gonna pop? At 60 TRILLION? Maybe 80 TRILLION? Surely at 100 TRILLION! Remember, when a 1ounce gold coin was known as a $20 gold piece, now it's a $3000 gold piece. There is more gold now than ever before in human history, so there is no shortage of gold. The Dollar is simply worth less and someday soon it will be worthless.
Just remember, there is no debt ceiling. Every. Single. Time. they will vote to increase the limit. Doesn't matter which party is in power in DC. We are living via a credit card. As long as we can make the minimum monthly payment, all is good. We could keep this going for decades. We'll start issuing 50 year bonds. Then 100 year bonds. I could see the can getting kicked down the road for the next 40 years. Yep, as long as every country keeps pretending that it's fine, the game keeps going. As soon as one large country or block of countries has collected enough gold to weather the firestorm of global economic collapse and dumps their US treasuries and other nations bonds and no longer accepts them as collateral/payment. Then the shit hits the fan. Until then, business as usual.
Bandit's simplistic model to eliminate or decrease the National Debt... "The US national debt is owned by both domestic and foreign investors, including individuals, corporations, state and local governments with the Federal Reserve being the largest single holder of US government debt." "The U.S. national debt, which totaled approximately $34.4 trillion in 2023, is broken down into debt held by the public (around 79%, or $27.3 trillion) and intragovernmental debt (21%, or $7.0 trillion), the latter being debt the government owes to itself." Do we print the money ourselves and, if so, why are we paying interest on it? Why could we not simply cancel interest payments on the 21%, that which is 'debt the government owes to itself,' and use that money to pay down the remaining debt? Or, could we not possibly cancel the entire 21% since we owe it to ourselves and use it towards the remaining public debt? This business with the Federal Reserve has always fascinated me in that we print the money - yet - we give it to them to loan to us... I guess my pea size brain doesn't understand high economics and why we simply can't loan the money to ourselves. Of course, there would be limitations so that you do not fuel inflation but there is that now also. The massive influx of paper money that Biden printed and dish out to the economy during Covid did us no favors...actually was very, very stupid, economics 101, that my pea size brain can understand. Anyway, that is my plan.
This 36 trillion dollars is only about a third of our problem. We basically owe ourselves an additional 70+ trillion dollars that are going to come due but unfunded. Medicare, Social Security, Veterans Pensions, Federal Pension obligations are coming due growing every year. So our actual debt is north of 100 trillion dollars and we are in a lot more trouble than most think. Almost like TPTB would prefer to go all Logan's Run on the old timers in our population in order to save the country.
We will never know, but many of the things Ross Perot warned us about in the 90s have come true. He was a bit goofy with his charts but unlike any candidate or POTUS since he had a real plan. ***Perot, who had only ever owned one pair of shoes at a time, was shocked to find that he was issued multiple pairs of shoes in the navy, which he would later point to as "possibly my first example of government waste".*** ***The national debt -- $4 trillion and rising when he sounded the fiscal alarm by challenging President George H.W. Bush and Bill Clinton -- stands at $16 trillion. The annual deficit -- a record $290 billion then -- has topped $1 trillion four years running. As was the case a generation ago, budget experts agree that neither major party candidate for president has a credible plan to balance the budget. President Obama wants more government spending to help create jobs. The centerpiece of Republican nominee Mitt Romney's plan is $5 trillion in tax cuts.*** Unlike the current POTUS he was a self-made man who also served his country in the Navy, downside he split the Rs which gave us Bill Clinton.. Perot's economic stance resonates 20 years later Ross Perot - Wikipedia
