Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
National Debt Update
- Thread starter Texas97
- Start date
All politicians
D_JEEPER
Picked the wrong week to quit sniffing glue
- Joined
- May 21, 2020
- Member Number
- 870
- Messages
- 773
$800 million to Ukraine in just a couple of days this week alone. It is almost like they want to run this into the ground before Trump takes over just to make him look bad.
I have to give this to you? Ok. breaks it first Now you can have it.
I have to give this to you? Ok. breaks it first Now you can have it.
Also to keep on the radar....
get in. we're ending fossil fuels.
but morons dont know what it takes to make plastics and rubber for their phone and electric cars.
RusM
Amateur Viking
Can't spend it when you're dead. 
i dont think its meaningless. but the numbers are too high to fathom.
![[486]](https://data.irate4x4.com/avatars/m/0/94.jpg?1700178133){kind=avatar}
[486]
ugh, that guy again?
did you know that the fractional reserve banking system has been replaced with a zero reserve banking system?
We are now in negative reserve banking
[486]
ugh, that guy again?
What do you mean by this?
[486]
ugh, that guy again?
Maybe I explain further, used to be that banks could loan out like 180% of what they have on hand as collateral or capital or deposits or whatever you'd want to call it.
During the printdemic that reserve requirement was eliminated, now banks themselves can loan out an unlimited amount of money with zero regard to how much they have to back it with. If a run happens, the FDIC will cover their ledgers regardless.
During the printdemic that reserve requirement was eliminated, now banks themselves can loan out an unlimited amount of money with zero regard to how much they have to back it with. If a run happens, the FDIC will cover their ledgers regardless.
Just being facetious. I don’t actually mean it to be fact.
I’ve always hated the Federal Reserve and national debt model I was born into, can’t opt out of without being homeless or dead.
Sceep
🖕___ 😆___ 🖕
Motorcharge
Unregistered User
WaterH
Well-known member
I guess I need to buy more gold.
Animalmother
Flexed cracker
Gregj50!!!!!
Boob
The politicians running the country don’t even understand it!!!!
clodhopper
Get off my lawn, punk!
That is the concept, but functionally the FDIC is only capable of covering individual bank collapses and runs. If the whole banking system faced a run, the FDIC doesnt have the resources to back it all. Proof was the the Silicon Valley Bank rapidly followed by New York Community Bank and the FDIC said at that time they were tapped and couldnt handle another bank.
You could suggest that the govt could just print all they need and distribute that through the FDIC, but doing so would completely nuke our financial systems, and likely nuke those of every country in the world along with.
WaterH
Well-known member
That’s coming one way or another. It was garenteed when we went off the gold standard. It's just a matter of time. I still wonder if will occur in 2 years or twenty. It mind blowing that it has lasted this long.
I really wonder if someone like Musk or Putin couldn’t start a new gold backed currency that would take over the world. The only problem is technology might come up with a way to change lead into gold.
Projectjunkie
Whatever
Who do we owe this "money" to, and for what?
Who did we borrow it from?
Who did we borrow it from?
60% is owned by foreign governments.
Motorcharge
Unregistered User
It's not even close to 60%. It's something like 8 or 9% and the foreign held debt is generally a circle jerk. Many of the debt holders also owe us all kinds of money from shit like rebuilding post-WWII. Other than inflation the national debt is largely meaningless.
Coyote
Cup Holders & Rollbars
SanDiegoCJ
Non-Lemming
A fool's errand. If the SHTF gold will be useless/worthless.
clodhopper
Get off my lawn, punk!
No. It is not.
Crossposting myself from another thread.....
Despite breaking it up by govt, reserve and such, the US taxpayer is ultimately responsible for all of it. Feel free to convince me otherwise. So almost 3/4 is held by taxpayers.
And of those foreign investors:
And Motorcharge is correct. Most of these countries owe us back but it is sitting on separate ledgers.
Levigarrett76
Zeus of the Sluice
60% increase, fairly in line with prices..
Good thing kuntmala gonna hold those greedy big corporations accountable for price gouging!
Generations that are not even born yet.