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Old 02-03-2010, 05:05 PM   #30
Avalon Senior Member
Join Date: Dec 2009
Posts: 117
Default Re: What is the US National Debt this Minute?

I really wouldn't worry about the debt clock or even paying it back.

our country went bankrupt in the 70's when the last reserve standard was removed by nixion.

Nations liquidate debt by printing more money. Which destroys the value of the money creating tremendous inflation.

our nation could simply pay off the debt with one stroke of the pen, dumping a huge amount of money into the system and making a loaf of bread cost 100 dollars over night.

instead they will simply continue to print more money, add more deficit spending and liquidate the debt by devaluing the currency more slowly rather than over night.

it doesn't matter how much we owe for our money will be worth far less tomorrow. Our money is already worthless over all. it's lost 97% of it's value in the last 90 years.

What will happen is as our dollar collapses a new gold standard currency will replace it. The bankers what the currency to be global but what will most likely happen in the USA is each state will start their own banks backed by gold and print their own currency.

We will go back to the banking system prior to 1900. The fed will hang itself as they try to adopt a global currency after they destroy the American dollar.

I see state banking replacing the dollar. Community banking might also come into play.

Eventually the law about the mint making coins could also be repealed and states may have their own mints.

The constitution dictates only gold and silver are legal currency. With a gold backed new res4erve currency in the works that means states using gold backed currency will have an even exchange rate.

A new currency system is coming but it will be the expense of the American tax payer and the green back.
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