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#176
#176
McDad said:
If debt is zeroed, and our fiat currency is worthless, then China would be stiffed on their money, too. I think.
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Guess what, we ain't paying back $1.2 trillion or $22 trillion or anything else we allegedly owe, so they are stiffed anyways.

The biggest loser in all of this will be the Saudis/Gulf States because they have 45+ years of trading oil for worthless paper. The Chinese really only got hot and heavy into the game around 2000 when they got favored trading nation status.
 
#178
#178
Rasputin_Vol said:
I just told you in that post the two main options. Or did you not read the possibilities I clearly stated. I said either a fiat currency or a currency backed by something. I spelled out details and concepts and explained it.
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Thanks. I can be slow on the uptake.
would I turn in my greenbacks for an equivalent amount of commodity backed currency?
 
#179
#179
Rasputin_Vol said:
What good would that $1.2 trillion be to China when the $1.2 trillion they already have is worthless paper also?

They would either stop trading finished products for worthless paper with the United States if we default or the US would have to barter/trade something of value in exchange for that $1.2 trillion, whether it be land, mining/oil reserves, etc.

If the globalist have their way, they would sell this country out and leave us as a vassal state to China. My option of a default allows us (and everybody else) to simply keep what they have and start over.
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That sounds about right to me. This subject, in general, I find more difficult to grasp than most. I have to suspect that it's by design, but maybe I just don't have the head for it.
 
#181
#181
McDad said:
Really? Started by whom?
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If you loan me $1000 with specific terms, then in the middle of the terms, I said, I’m not doing this anymore, I’m canceling my own debt and starting anew with this new form of currency. Wouldn’t you be pretty upset about it? Take your pick of nations...
 
#182
#182
DEFENDTHISHOUSE said:
If you loan me $1000 with specific terms, then in the middle of the terms, I said, I’m not doing this anymore, I’m canceling my own debt and starting anew with this new form of currency. Wouldn’t you be pretty upset about it? Take your pick of nations...
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it is a very wide leap...like Grand Canyon wide...to go from me being upset that you stiff me for a grand and us going to war.
 
#184
#184
McDad said:
Well, i dont know. If new money was back by a tangible stable asset like copper, i guess others would accept it.
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Exactly what I've been saying.

McDad said:
However, what's preventing the government from going off the copper standard in a few decades?
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The next time, we should make sure that we actually enforce our Constitution and not allow private bankers to loan us paper money. All we would have had to do to prevent our present situation would have been to enforce the Coinage Act of 1792 and kept it in place.
 
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#186
#186
Rasputin_Vol said:
WW3 didn't start when we closed the gold window 50 years ago.
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In your scenario, the currency is worthless paper, meaning the American currency other nations have are basically worthless. You’d be canceling all debt and starting over. I’d think some nations that are heavily invested in America (China) would be very upset over this.

Believe me, I wish it could happen. I would hope we’d be smart enough to make the necessary changes the second time around.
 
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#187
#187
DEFENDTHISHOUSE said:
If you loan me $1000 with specific terms, then in the middle of the terms, I said, I’m not doing this anymore, I’m canceling my own debt and starting anew with this new form of currency. Wouldn’t you be pretty upset about it? Take your pick of nations...
Click to expand...

The way things stand right now (as they did when we defaulted on exchanging dollars for gold nearly 50 years ago), the United States is the biggest bully on the block. Not saying it it right or wrong, just stating the facts. So in that case, not many (even Russia or China, and certainly not the Arab oil states) will want to go to war with us. Instead, you are seeing these countries establishing their own back up plans in anticipation of a currency collapse.
 
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#188
#188
DEFENDTHISHOUSE said:
In your scenario, the currency is worthless paper, meaning the American currency other nations have are basically worthless. You’d be canceling all debt and starting over. I’d think some nations that are heavily invested in America (China) would be very upset over this.

Believe me, I wish it could happen. I would hope we’d be smart enough to make the necessary changes the second time around.
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You for get that the United States is not the only one in debt. The whole world is in debt.

Name me one creditor nation.
 
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#192
#192
Rasputin_Vol said:
You for get that the United States is not the only one in debt. The whole world is in debt.

Name me one creditor nation.
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Our ships would rust in place just like USSR but so would everyone else’s. No doubt that anybody who could project power would try and finish us off with all the internal strife
 
#198
#198
DEFENDTHISHOUSE said:
You think? Look at the reasoning for our past wars and get back to me.
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Lemme summarize this to make sure i follow.
We decree all federal debts are voided.
We create new currency.
This creates anger in other countries.
They go to war with us (using our past reasons for going to war) or we attack them preemptively?
WW3 starts.

Yeah...I don't see it.
 
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#199
#199
Everyone owes everyone. Only thing keeping it going is no major player has defaulted yet
 
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