I finally realize there is no national debt

[djinwa]

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.

 

[hypocritexposer]

So how much will "our" grandkids have to pay for a loaf of bread to get this debt paid off?


Or.....how much will a family "in poverty" have to pay for a loaf of bread to pay for their welfare payments.

Liberalism is a scourge and does more damage to those they claim to be helping, than anything else.....

 

[Mike]

The U.S. monetary system is built around and depends on debt.

When money is loaned, it makes it way through the system creating $interest$ along the way. It winds back up in the hands of the Fed and put through another cycle.

"The Creature From Jekyll Island" explains it very well.

 

[TexasBred]

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.

Ever been in another country where inflation was so high and money so worthless that it was laying in the gutter and blowing down the steet?? Pick up a couple of pockets full of cash, hand it to the first child you come to and even he just throws it back into the street. Gov't simply deletes 3 zeros from the value of a "bill" in their simple way of at least making money amounts small enough to count. Perhaps that is what is in our future.