3 ms·
The legal owners of the databases have vastly different business models, legal powers and levels of dysfunction. So they are in no way equivalent. The governme
by dageshi 3y ago
The legal owners of the databases have vastly different business models, legal powers and levels of dysfunction. So they are in no way equivalent.
The government can default on its debt, that's why the debt has a credit rating. As unlikely as it is to ever happen it could happen with enough political dysfunction because political opponents are playing chicken with each other.
A direct deposit with the FED can't, the FED does nothing with that money and can literally just print it back into existence, which the government cannot do.
- lotsofpulp 3y agoI have not heard of the Fed being able to “literally just print” money. As far as I know, that is solely done by the US Treasury and Mint. Also, why does money in an account have to be debt? For a physical bank dealing with lots of staff and physical cash, they have expenses they need to recoup. But with instant communications and electronic database, why can the government simply not operate a database where the money (a number that someone had the legal power to spend) simple exists?