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dom1971
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The National Debt Cannot Be Paid Off

- Keith Weiner - Monetary Metals

US debt is nominally very high, but as a fraction of GDP its not nearly as high as some other "well to do" western nations.

I don't think its right to compare Greek and US national debt. Greece can't print Euros and they certainly can't spread the debt burden to the rest of the trading world in the way the US can since it controls the global reserve currency.

The US owes money *to itself*. It controls the value of the currency this debt is denominated in. It also controls the interest rate paid on that debt. What are they worried about, really?

Commented 3704 days ago

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Beginning of the headline :Government spending is out of control and, while most say they want spending cuts, people oppose cuts that impact them. Among those who get government money, there’s practically an unspoken, unbreakable pact to keep the money coming. But when I say that the national debt cannot be paid off, it’s not a political forecast; it’s a statement on the flawed nature of the dollar. Astute observers call the dollar a fiat currency. Fiat means force. It’s true that we’re forced to use the dollar (e.g. by t... Read More

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