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How can that be if the debt is higher than the money in circulation?
Money supply and debt are not the same thing and do not really have anything to do with each other. It's much like having a home mortgage of $500,000 and a bank balance of $50,000. You don't have enough cash to pay the mortgage immediately, but you do pay it off over time.
Nonfacts notwithstanding, dollar bills aren't dollars, aren't money (by law), and aren't worth anything since 1933.
See: Art 1, Sec 8, Sec 10, USCON, Coinage Act of 1792, et seq, Federal Reserve Act of 1913 (Title 12 USC sec 411), HJR 192, June 1933, Gold Reserve Act of 1934, and FICA of 1935.
. . .
That millions of Americans believe otherwise is a tremendous victory for the world's greatest propaganda ministry of the Peoples Democratic Socialist Republics of America.
. . .
MONEY - In usual and ordinary acceptation it means coins and paper currency used as a circulating medium of exchange, and does not embrace notes, bonds, evidences of debt, or other personal or real estate. Lane v. Railey, 280 Ky. 319, 133 S.W. 2d 74, 79, 81.
- - - Black's Law Dictionary, Sixth Ed. p. 1005
Federal Reserve NOTES (aka "dollar bills") are debt, not money. They are legal tender on obligated parties, like the Federal government. (See: 12 USC Sec 411)
". . .Federal Reserve notes are not redeemable in gold, silver or any other commodity, and receive no backing by anything. This has been the case since 1933. The notes have no value for themselves, but for what they will buy. In another sense, because they are legal tender, Federal Reserve notes are "backed" by all the goods and services in the economy."
[] FRNs are not redeemable since 1933 (a violation of Title 12 USC Sec 411);
[] Government is therefore bankrupt;
[] FRNs are worthless;
[] FDR confiscated all lawful money (gold coin) in 1933;
[] FRNs are legal tender on obligated parties; *(Federal gov is an obligated party, according to 12 USC Sec. 411)
- and -
[] They are backed by YOUR goods and labor (FICA makes all participants into obligated parties [contributors] on said notes, so they become legal tender). If you have an account and SocSec number, you're a human resource pledged as collateral. Great job, CONgress! Kite bad checks and get the muggles to underwrite them!
The US government makes payments on the debt, it will neer been fully paid off.
And the creditors of that debt, aren't dumb enough to demand that full payment, as they know the US would not be able to fulfill such a request. And no one wants to crash the world reserve currency.
Nonfacts notwithstanding, dollar bills aren't dollars, aren't money (by law), and aren't worth anything since 1933.
See: Art 1, Sec 8, Sec 10, USCON, Coinage Act of 1792, et seq, Federal Reserve Act of 1913 (Title 12 USC sec 411), HJR 192, June 1933, Gold Reserve Act of 1934, and FICA of 1935.
. . .
That millions of Americans believe otherwise is a tremendous victory for the world's greatest propaganda ministry of the Peoples Democratic Socialist Republics of America.
. . .
MONEY - In usual and ordinary acceptation it means coins and paper currency used as a circulating medium of exchange, and does not embrace notes, bonds, evidences of debt, or other personal or real estate. Lane v. Railey, 280 Ky. 319, 133 S.W. 2d 74, 79, 81.
- - - Black's Law Dictionary, Sixth Ed. p. 1005
Federal Reserve NOTES (aka "dollar bills") are debt, not money. They are legal tender on obligated parties, like the Federal government. (See: 12 USC Sec 411)
". . .Federal Reserve notes are not redeemable in gold, silver or any other commodity, and receive no backing by anything. This has been the case since 1933. The notes have no value for themselves, but for what they will buy. In another sense, because they are legal tender, Federal Reserve notes are "backed" by all the goods and services in the economy."
[] FRNs are not redeemable since 1933 (a violation of Title 12 USC Sec 411);
[] Government is therefore bankrupt;
[] FRNs are worthless;
[] FDR confiscated all lawful money (gold coin) in 1933;
[] FRNs are legal tender on obligated parties; *(Federal gov is an obligated party, according to 12 USC Sec. 411)
- and -
[] They are backed by YOUR goods and labor (FICA makes all participants into obligated parties [contributors] on said notes, so they become legal tender). If you have an account and SocSec number, you're a human resource pledged as collateral. Great job, CONgress! Kite bad checks and get the muggles to underwrite them!
The US government makes payments on the debt, it will neer been fully paid off.
And the creditors of that debt, aren't dumb enough to demand that full payment, as they know the US would not be able to fulfill such a request. And no one wants to crash the world reserve currency.
Sure we could. But why would all those entities owning US debt interest bearing paper all want USD non-interest bearing paper at the same time?
Sure we could. But why would all those entities owning US debt interest bearing paper all want USD non-interest bearing paper at the same time?
Thats the point. There’s numerous reasons why they’ll never call in their loans.
Quote:
China owns around 2.6% of U.S. debt, which it buys because the Chinese yuan is pegged to the dollar. It would be impossible for China to call in all its U.S. debt at once, given the different maturity dates of the U.S. securities that China owns.
The US government makes payments on the debt, it will neer been fully paid off.
And the creditors of that debt, aren't dumb enough to demand that full payment, as they know the US would not be able to fulfill such a request. And no one wants to crash the world reserve currency.
Where does money go? Who is holding the debt that the government has to pay off?
Is it mostly really rich people or banks that hold the debt that the US has to pay off? Like who are these creditors?
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