tag:blogger.com,1999:blog-4491040877840120845.post6172559347131406067..comments2024-03-16T17:47:07.792-04:00Comments on Stationary Waves: Inflation and the Debt CeilingRP Longhttp://www.blogger.com/profile/15028013805248797978noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-4491040877840120845.post-37094064022168198692011-07-13T11:08:54.015-04:002011-07-13T11:08:54.015-04:00The US defaults on its debts all the time. We defa...The US defaults on its debts all the time. We defaulted massively in 1971, when we went off the gold standard completely, thereby not repaying our debts in gold (as was agreed upon at the time we took on that debt) but with worthless fiat. And we default every time we pay our creditors with less valuable/inflated/cheaper dollars. We have been defaulting for decades. Like just about every other nation on the planet.<br /><br />The gov will never stop spending money. Never. They will never stop stealing pie at gunpoint from people who are banned from protecting themselves from gun-toting thieves.<br /><br />If I had my way, I would "default" on the $1.3T of faux, out-of-thin-air money we supposedly "owe" the federal reserve. But we can't pay back something that never existed in the first place. It's ludicrous to demand that the taxpayers -- those who did not incur this debt or even want it incurred on their behalf -- chip in even more pie to pay it off. Fuck the Fed. Fuck Bernanke and his bankster friends.<br /><br />I for one welcome the collapse of this pathetic Ponzi scheme.StephCreativehttps://www.blogger.com/profile/07298522315460597200noreply@blogger.com