When will the USA pay their debts, if ever? - page 17.

botany

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Quote from: tinof on August 26, 2014, 05:35:36 AM

Quote from: knight22 on August 25, 2014, 08:27:52 PM

Never. There is not enough money to pay back all the debts.

https://www.youtube.com/watch?v=iFDe5kUUyT0

I am sure the Arab and Chinese will be glad to buy certain assets and technology patents from the US rather than getting paid back in FIAT.

They already own half of America. Grin

tinof

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Quote from: knight22 on August 25, 2014, 08:27:52 PM

Never. There is not enough money to pay back all the debts.

https://www.youtube.com/watch?v=iFDe5kUUyT0

I am sure the Arab and Chinese will be glad to buy certain assets and technology patents from the US rather than getting paid back in FIAT.

johny08

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Quote from: wasserman99 on August 26, 2014, 12:06:50 AM

Quote from: Kluge on August 25, 2014, 06:19:45 PM

We over-focus on federal government debt. The US is in a relatively normal position compared to other developed countries and has low assets:debt. The latter is important because the government can certainly tax more than income to get out of debt.

I think a much better focus would be on the unfunded liabilities of our social programs like social security and medicare/medicaid (and now obama care). Once you take these programs into consideration things will start to look much worse for the US.

you reduce debts by inflation not by paying back, when you are a state.

LiteCoinGuy

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Quote from: botany on August 24, 2014, 07:29:26 PM

Quote from: coinableS on August 24, 2014, 06:40:58 PM

Exactly. The US can purposely devalue the dollar where $1,000,000 will only be worth $1 today. Pay off $15 trillion in debt by inflating the currency.

The only problem with that approach will be that they cannot borrow any more and USD will stop being the global reserve currency.

that would be true, nobody would use this crap anymore and i guess we will see this in slow motion. china accumulates more gold than any other country in the world. why Tongue

?

wasserman99

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Quote from: Kluge on August 25, 2014, 06:19:45 PM

We over-focus on federal government debt. The US is in a relatively normal position compared to other developed countries and has low assets:debt. The latter is important because the government can certainly tax more than income to get out of debt.

I think a much better focus would be on the unfunded liabilities of our social programs like social security and medicare/medicaid (and now obama care). Once you take these programs into consideration things will start to look much worse for the US.

knight22

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--------------->¿?

Quote from: gts476 on August 25, 2014, 08:47:50 PM

let other countries get enough gold, hyper inflate the debt away, allow gold to rise to meet value of all money, balance sheet zerod, start again.

Or just pay back the debts with non debt based money instead of paying them back each time with more debts.

gts476

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let other countries get enough gold, hyper inflate the debt away, allow gold to rise to meet value of all money, balance sheet zerod, start again.

knight22

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--------------->¿?

Never. There is not enough money to pay back all the debts.

https://www.youtube.com/watch?v=iFDe5kUUyT0

PeterHarrisonCY

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"When will the USA eventually collapse on their debts?" would have been a better question...how long can this charade continue?

Kluge

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We over-focus on federal government debt. The US is in a relatively normal position compared to other developed countries and has low assets:debt. The latter is important because the government can certainly tax more than income to get out of debt.

oceans

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It's physically not possible for them to do so now because they have allowed themselves to get too far into debt. The longer it is left the more gets pushed on to meaning it's really a never ending circle for them now. They could try to pay their debts but it may never make a difference now.

coinits

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011110000110110101110010

Quote from: farfiman on August 24, 2014, 09:43:19 AM

Quote from: Scott J on August 24, 2014, 07:20:07 AM

Quote from: bitcoin_purist on August 24, 2014, 07:18:16 AM

Never, take your precautions with this knowledge

This.

A default is inevitable. It's a good idea to get into a position where you are as shielded as possible from it.

They cant default, but they can inflate it away.

True but with China being one of the largest holders of US debt they would see it happening and start a sell of of the debt and then collapse the USA Economy, or just go straight to nukes.

Swordsoffreedom

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Quote from: Chompa on August 24, 2014, 04:04:43 AM

When will the USA pay their debts, if ever?

http://www.usdebtclock.org/

You know that is actually an excellent question

I don't expect the USA to actually end up with a debt surplus for centuries to say the least assuming that their fiat based monetary system lasts that long, rather I expect the USA currency to collapse severely devalue and lose purchasing power but not collapse or for their debt to be erased one way or another by occupations/wars with other countries lol.

(You know that whole I owed the previous government 1 dollar but decided to occupy it instead and clean my debt books since I don't recognize the new government lol)

shawshankinmate37927

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Bitcoin: The People's Bailout

Quote from: wasserman99 on August 24, 2014, 09:08:53 PM

The US has run budget deficits for well over 100 years with the exception of the late 90's....

The politicians managed to balance the budget for a couple of years in the late 90's only because they raided the Social Security Trust Fund and replaced those funds with IOUs from the US Treasury.

wasserman99

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Quote from: galbros on August 24, 2014, 09:59:28 AM

If you think about it the USA has never paid much of it's debt back since the days of Jackson (who hated banks and paid the national debt off). Basically it will roll its debt forward forever (or as long as investors will allow it) and the US will rely on inflation to reduce the real value of the debt. Even a 2% inflation rate halves the real value of debt every 30 years or so, and I think we can expect higher inflation than that going forward. (Though I have been wrong on this before.)

There was a time when people just assumed countries would never pay back debt. A lot of early UK debt was perpetual.

The US has run budget deficits for well over 100 years with the exception of the late 90's. Whenever a country is running a budget deficit, on a net basis it is not able to repay it's debts, but must borrow additional funds to fund it's deficit. The theory is that as long as a country's economy(income) continues to grow, that the total debt will shrink as a percentage of the total economy as long as the debt grows at a slower pace then the economy does.

botany

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Quote from: coinableS on August 24, 2014, 06:40:58 PM

Exactly. The US can purposely devalue the dollar where $1,000,000 will only be worth $1 today. Pay off $15 trillion in debt by inflating the currency.

The only problem with that approach will be that they cannot borrow any more and USD will stop being the global reserve currency.

coinableS

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Quote from: LiteCoinGuy on August 24, 2014, 07:04:02 AM

USA can pay any debt. make more research but here is a hint:

Exactly. The US can purposely devalue the dollar where $1,000,000 will only be worth $1 today. Pay off $15 trillion in debt by inflating the currency.

RobFordWotWot

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time

Debts are made to be owed not paid off.

Satan666

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The love of fiat is the root of all good

Quote from: Chompa on August 24, 2014, 04:04:43 AM

When will the USA pay their debts, if ever?

http://www.usdebtclock.org/

Who cares? Our kids and grandkids will figure something out. It's their problem, not ours. Grin

unpure

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Quote from: Chompa on August 24, 2014, 04:04:43 AM

When will the USA pay their debts, if ever?

http://www.usdebtclock.org/

Why pay back the debt if they can keep rolling the debt over and pay negative interest?

In essence, the creditor nations are paying US for owing them money.

Topic: When will the USA pay their debts, if ever? - page 17. (Read 20979 times)