I think along the same lines mostly
People easily forget that money is only an intermediary which is not worth anything on its own, without the "underlying". And being only that, we can remove it from the equation completely and when we do so, we come to understand that it is the economies that matter and their strength, not money or debt representing them. In other words, if fiat monies are going to die, the American dollar will be the last to kick the bucket due to sheer size of the US economy
Debt is 10 times larger than the US economy.The US cannot pay the debt. Simple as that.
It's like a credit card bill that will never get paid. Simply rolls over from month to month. Who pays the bill? We do.
You cannot remove money from the equation because of fractional reserve banking. The system is not honest. What you talk about would be true if the system were honest, but it's not.
Money is essential because a bank with 1 million dollars in reserves is free to loan 10 million nonexistent dollars. It's a fraud, simple as that.
In simple terms, you don't know how fiat system works these days
There is no fractional reserve banking today, with fiat money not backed up by anything it loses any meaning. It always amuses me why people continue to repeat the same shit over and over again? It has been explained many times that there are no "10 million nonexistent dollars" as these dollars (credit money) are as "existent" as any other dollars out there. If it is a fraud, then the whole fiat system is a fraud
Regarding the US debt specifically, it is not debt, even though you are made to believe it is. If anything, it is a tax that Uncle Sam has levied on the rest of the world and made everyone think that he actually owes something. Don't fall for the show you see on the TV. And strictly speaking, it is nowhere close to being 10x the economy of the US. Where did you get that number, really?
