Quote:
Originally Posted by r3p1v
I think that's possible, but I don't see why tax payers wouldn't be able to pay off the debt over time.
|
I don't see how they can. In 1980, America was the largest world creditor. Not it is the world's largest debtor.
People are living off debt now. The Chinese and Japanese owe several trillion of the US debt, and they receive taxes in interest payments ($500 billion a year just in interest alone).
There are unfunded liabilities for SS and Medicare that total over $50 trillion. That money has also been raided and spent already.
You should look up "David Walker GAO Tour"
Quote:
Originally Posted by r3p1v
The government could possible make a profit on some of this too.
|
That's propaganda. They might make a nominal profit. Like how $1 in 1913 is worth $0.03 now. They might make money but adjusted for inflation, it will be a loss. It is impossible to convert bad debt and foreclosure into good debt, just as it is impossible to convert lead into gold.
Quote:
Originally Posted by r3p1v
If that actual works and keeps AIG afloat (I'm skeptical) but then the govt will make a lot of money off of that.
|
Who is paying the inflated prices for government profit? The citizens who use AIG. So it's just another way of taxing. It's actually how the communists do it. You don't pay taxes, almost everything you buy a share or all of the profit goes to government.
Anyway, this conversation makes me nauseous. I gave you some things to check out, please make use of them. It is in your best interest to be informed.