Of course & there are many others out there who are trying to portray that
"government is a victim of Fed's debt & interest burden" & using it as a launching-pad to advance their vile issue of "government-issued paper-money"
Well, they should know that Fed IS part of government so "government-issued paper-money" is ALREADY exists, & that biggest beneficiary of the current system is the government itself since all this money-creation, inflation & Fed's profits go to the government anyway
And why did government go along with it? Because as I've said, nobody benefits as much from existence of Fed as the government, with all this "money out of thin air"; the argument that banks benefit from Fed's existence is pretty spurious because they benefit largely when there's a disaster, & even in that case, it's the BIG BANKS TBTF that largely benefit, smaller ones are left to die anyway, on the other hand, government ALWAYS benefits from Fed so there's little point differentiating government & Fed when it comes to the bigger picture
Well, government has been ended many times in many places so there's little doubt that it CAN be ended but then I don't deem anarcho-capitalism sustainable, at least at this point, but at the same time, if one truly wishes to be a CONSISTENT advocate of liberty then one must acknowledge that all people should have the same rights, & thereby people in government should NOT have the right to steal or coerce other individuals in any way, & therefore, government must EVENTUALLY (not in immediate future
) be supported by voluntary funding
It's not that easy because a big chunk of the debt is owned by countries allover the world, plus, they have dollar-reserves & they'll pissed as anything if their investments become confetti all of a sudden & their people are going to want to be hoping to spend that money on their country
Another big chunk is owned by various government funds like Social Security, Military, etc & then there are State government & local governments & so on & again, there will be civil unrest if that debt is simply repudiated
There's some which is owned by institutions & individuals, which COULD be repudiated but politicians are unlikely to vote for it because it could have electoral ramifications
The easiest part of all could be the Fed-owned debt because it's not really "debt" per se because if that were paid then money goes from Treasury-Fed-Treasury so essentially that debt doesn't really exist for the most part
Just creating more money & causing hyperinflation will be disastrous for the economy, as hyperinflation destroyes & nearly all smoothly functioning aspects of the society & overthrows trade & industry, & there could be civil unrest, impending misery may quickly push the country in the ultra-socialist direction, may be dictatorship, just like so many countries in the past that have been, even America under Great Depression
So willingly causing hyperinflation would be "off the table" & that's precisely what Ron Paul has been wanting to accomplish by railing about the possible of collapse of the dollar so there could be a smooth transition from the current to a new better system
So again, there are no quick fixes, it's damage-control all the way
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