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I finally realize there is no national debt

djinwa · 2011-11-07T02:54:16+00:00

A while back I saw former Federal Reserve (central bank money creating machine) chairman Alan Greenspan saying we will always pay our debts by just printing money. http://www.youtube.com/watch?v=q6vi528gseA Which means the debt isn't what you normally think of as debt. We don't have to actually have assets to pay off the debt, we can just have the Federal Reserve electronically print money and hand it to the government. Unfortunately, more dollars in circulation makes each one worth less, so prices go up and we all pay more for everything. So in a way, we are all paying off the debt every time we go to the store. So the national debt is a measure of what we're paying, and we're paying all the time. So the debt is being paid off. So we're okay. Until the dollars become so worthless that the whole thing collapses.