Ayn R. Key on the national debt
Posted: February 13th, 2009 |
Repudiate the Debt!
You didn’t rack up that bill — the politicians in Washington did.
You didn't sign a promissory note, did you?
The US federal government debt has grown past $10 trillion dollars with no end in sight. You and your descendants are expected to pay the interest and principal on this debt, but you didn't agree to it and you don't benefit from it. Join us in repudiating this illegitimate debt, and prohibiting future borrowing. More.
Why not just pay off the debt…today? If someone has $20,000 in an investment account where 50% is cash and 50% is in government bonds (debt), then what happens if the government calls in those bonds immediately and pays the bondholder the value plus interest of the note with cash? That someone know has $20,000 in their account. The debt has been paid and all is good.
Some would say this is very inflationary. Well, in that “INVESTMENT” account they are now all holding cash. That doesn’t mean that someone would use their “INVESTMENT” account to go by a car and big screen TVs. No, they would be looking for more investments to put that 50% of cash back into. Who needs money now? Cities, municipalities, the state of California, mortgage banks, etc. That huge amount of money on the sidelines would give incentives to someone to clean-up their books as to get some of this investment money. Now, during this time of deflation, high unemployment, etc. is the exact time to pull this off.
So, repudiate? Well, how about we do the same smoke and mirror effect that got us into this problem to get us out of this problem?
Oh, and once we pay off this debt, today, then tomorrow we can create a new monetary system so we don’t fall into this trap again.
http://www.WheresTheInterest.com
Pay it off with what? Imaginary money? That’s not paying it off. It’s just more fraud.