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originally posted by: openminded2011
Let the federal reserve write checks of the amount of 10k for every man woman and child in the US. Deduct the sum from the debt the US owes China. Is there any real reason we can't or shouldn't do this? Feel free to comment.
originally posted by: chr0naut
a reply to: openminded2011
Monetize that debt!
Honestly, debt is money you don't have. Digging the hole deeper won't get you closet to daylight.
originally posted by: visitedbythem
originally posted by: chr0naut
a reply to: openminded2011
Monetize that debt!
Honestly, debt is money you don't have. Digging the hole deeper won't get you closet to daylight.
It will, if you dig through to China
originally posted by: Grimpachi
China holds promissory notes that represents our debt. Those notes can be sold to other nations. If they were backed into a corner they could dump those notes on the market which would devalue the dollar quickly. It would hurt them as well which is why they don't do it. It is a complicated issue which is why simplistic answers won't work.
originally posted by: openminded2011
Let the federal reserve write checks of the amount of 10k for every man woman and child in the US. Deduct the sum from the debt the US owes China. Is there any real reason we can't or shouldn't do this? Feel free to comment.
originally posted by: Raggedyman
a reply to: openminded2011
The US owe China a lot of money
If you don’t pay, you are defaulting on a debt
Legal ramifications globally and no more money from China
China will take what you owe them, in land, in goods.
China are not giving you money for free, the US has put up collateral
Are you a child?
Cos that’s how children think
originally posted by: Stevenmonet
If we default on treasury debt to China other nations could lose faith in our ability to pay and we would quickly see the USD lose its reserve status as well as cause an entire rebalancing of global investment as investors walk away from us markets.