Quote:
Originally Posted by flstf
For instance what if we decide to forgive our debt to ourselves or what if we just continue to increase it and never pay it off? If we can forgive the debt that other countries owe us why can't we forgive the debt we owe to ourselves?
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If they did that, all those people and industries that have leant the US govt money by buying treasury bonds will lose everything they invested.
Essentially, it would be the govt saying "We're not paying you back."
Meltdown.
Debt is ok, as long as there's a flow of capital.
Once the money stops moving around the circle, that's when it becomes time to start growing your own food.