Account closed at customer's request

[jvockrodt]

We have approximately 10,000 million in national debt and approximately 300 million people, which works out to approximately $33,000 each. Here's the deal. I'll pay off my portion, if they close my account immediately.

[evilfunnystuff]

good luck with that lol

[ronpaulhawaii]

We have approximately 10,000 million in national debt and approximately 300 million people, which works out to approximately $33,000 each. Here's the deal. I'll pay off my portion, if they close my account immediately.

lulz - welcome to the forum :D

[ladyjade3]

Here's a thought - that debt is not legitemately yours anyway.

The Argentina movie made me think about this. What right do governments have to take out debt in your name? What if some dictator borrows a bunch of money, puts his country on the hook for it, and builds himself a gilded mansion? Is that legitimately the people's debt if they did not benefit from it?

In one way, this makes me a little sympathetic to the arguments about forgiving third world debt. The problem is that won't automatically stop dictators from borrowing again.

The debt belongs to whoever benefitted from the infusion of funds. I sure didn't. Did you?

[sidster]

http://teenshirtz.com/images/i_m_with_stupid_jpg.jpg

Argentina's Economic Collapse (http://www.ronpaulforums.com/showthread.php?t=160970)

[nickcoons]

What right do governments have to take out debt in your name?

They do not, which is why we should default on the national debt.


In one way, this makes me a little sympathetic to the arguments about forgiving third world debt. The problem is that won't automatically stop dictators from borrowing again.

No need to worry about that. If country's defaulted on their debts, they'd see their opportunities to borrow money dry up quickly.

How eager do you think any bank would be to loan you money if they pulled your credit report and saw that you never paid back your loans? This is exactly how we get governments to stop borrowing money.

[RideTheDirt]

I agree. I believe the United States should declare bankruptcy, so we are forced to live within our means.

[Conza88]

Repudiating the National Debt
Posted by Butler Shaffer at October 21, 2008 05:06 PM

Michael: Remember that the Keynesian indebtedness swindle was carried out with the help of the slogan: "we only owe it to ourselves." Fine! If there is no one other than "ourselves" to whom all of this indebtedness is owed, then no one is harmed by "ourselves" repudiating this debt, right? How absurd for me to think that I could owe myself $100 - whatever is implicit in that nonsense - and that I must exercise responsibility by paying this $100 back to myself.

Let those who knowingly profited from this swindle now bear the consequences of helping to peddle these deceitful words. In law, this is known as the doctrine of "estoppel."

http://www.lewrockwell.com/blog/lewrw/archives/023599.html

[Pauls' Revere]

Here's a thought - that debt is not legitemately yours anyway.

The Argentina movie made me think about this. What right do governments have to take out debt in your name? What if some dictator borrows a bunch of money, puts his country on the hook for it, and builds himself a gilded mansion? Is that legitimately the people's debt if they did not benefit from it?

In one way, this makes me a little sympathetic to the arguments about forgiving third world debt. The problem is that won't automatically stop dictators from borrowing again.

The debt belongs to whoever benefitted from the infusion of funds. I sure didn't. Did you?

Bravo! and why the bailout sucks all the same. I should have bought a house with no job and no money down! what was I thinking?

[Doktor_Jeep]

Hmph.

There is that 95 percent who pay no taxes but might get a "refund" further devaluing the dollar.

They won't pay 33K.

We know where this is going.

Meanwhile, if WE - yes us you and me - simply started handing our person to person contracts using gold and silver or barter, we can perhaps seek a trend where the entire leviathan is brought down when we stop pumping its lifeblood (fiat money).

[constituent]

Hmph.

There is that 95 percent who pay no taxes but might get a "refund" further devaluing the dollar.

They won't pay 33K.

We know where this is going.

Meanwhile, if WE - yes us you and me - simply started handing our person to person contracts using gold and silver or barter, we can perhaps seek a trend where the entire leviathan is brought down when we stop pumping its lifeblood (fiat money).

imo, not enough attention payed to copper.

you say "gold and silver" and people get the idea that it will necessarily exclude them.

for most, gold is not currency, it's jewelry that they scrimp and save for.

copper on the other hand is quite plentiful but does have immediate worth ($3/lb last i checked.)