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The very concept of debt, of exchange, is one enforced by the United States. If the United States says that I owe a million dollars or none, that is just as tru
by Cushman 14y ago
The very concept of debt, of exchange, is one enforced by the United States. If the United States says that I owe a million dollars or none, that is just as true whether it is measured in gold, or hens, or the capricious will of the Federal Reserve. What matters is the power of the United States to force me to pay, and that power is unparalleled by any other entity that has ever existed.
To say that the word of the United States is worthless is to ignore reality.
- waps 14y agoThat only really goes for people on American soil. Of course, most governments that owe money to the US are in such deep shit that they couldn't pay the cleaning lady next week without a new loan this week. New loans tend to be problematic if you don't pay interest on your current loan.
- kragen 14y agoThis may be news to you, but debt and exchange still take place internationally, have taken place internationally since long before there were superpowers, and also take place in zones where no law is enforced. As for the word of the United States, I'm guessing you've never been to an Indian reservation.