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Originally Posted by Guest
ALL paid for with debt. The country went into substantial debt to make all that stuff. Luckily...we had the Europeans "paying us back" for "loans" we made to them.
The entire "world financial system" is a big fraud, a big ponzi. These "banks" who "loan" $ trillions, the Federal Reserve, the European Central Bank...there's NO collateral behind their loans. They "make money" out of thin air. They type into a computer $10 billion and poof...there it is to be "loaned" for interest...and causing inflation...causing the other dollars to depreciate.
It's quite the system, quite the con... A "bank" gives you a piece of paper that you give to someone else to "buy" something...they then take that same piece of paper back and give it to the bank...for "credit"...so later the bank can give THEM that same piece of paper so they can "buy" something from someone else who will simply bring the piece of paper back to the bank again for credit. The cycle repeats over and over.
There is no "money", there is credit. We don't use gold or silver to give our "money" value. We have credit. A dollar is $1 "worth" of credit. When you pay cash, you are exchanging pieces of "credit"...for an actual product.
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Not only have we not been paid in full for WWII debts to us
but we are still owed money owed for WWI.
As to our called fiat currency. As strange as it seems to both you and I, so long as others are willing to exchange goods and services for that printed bit of paper, it does have value. Heck, if you see gold as REAL value it too only has value so long as people are willing to give you goods and services for it. You cannot for example eat gold.
We talk about the TWENTY TRILLION DOLLAR national debt like we have any idea what TWENTY TRILLION DOLLARS IS.
You mention the Europeans paying us back. I'm not aware of that. The other day Trump publicly stated that only 4 countries are paying what the agreed to for NATO. There was the US, Great Brittan and two far smaller countries. We are THE AMERICAN TAXPAYER IS, THE AMERICAN NATIONAL DEBT IS paying their bill.
From what I've read, in the real world we could pay off the national debt in 45 years. The chance of us doing that, the chance of us sticking to a non-existent 45 year plan-IS ZERO.
I've read when we talk about dollars, roughly 20% is either coinage or printed bills; the rest is dots and dashes on computers.
As, I've posted before, most people believe China is our biggest creditor so they hold most of the national debt.
I was shocked to discover Japan actually holds more of our national debt than does China. More important-together Japan and China TOGETHER, hold about 20% of our national debt. SOCIAL SECURITY HOLDS 42% OF THE NATIONAL DEBT. THERE IS NO FIXED INTEREST RATE OR PAYMENT DATE ON THIS LOAN FROM AN ALREADY GOVERNMENT OVER EXTENDED PLAN.
It is a house of cards. In history, it has always collapsed.
THIS TOO WILL-MUST COLLAPSE. When? What to do?
BEATS ME.