Erase National Debt?
Bessent spoke yesterday and stated the USA would, "grow its way out of debt." That made me laugh. Then, I digested what he said. Also, everything else he's said over his short tenure as SoT. He's not a builder of currency. He's a destroyer of currency. He worked for Soros for over 20 years. He was a key player in shorting the British Pound in '91.
Bessent gets giddy when he brags how he'll destroy nations with his economic prowess. He's the dude Trump needs to erase the national debt. How do you erase or payoff $40T in debt. When you can't get anyone to buy your bonds? How do you build the AI dream of our politicians and their donors?
You start printing money like it never has been done before. I'm talking about Trillions. Every politician will get money for every pet project they could ever dream of. The gov will set up individuals in business to rebuild our supply chain. We'll dig and refine our rare earth minerals. We'll build all the crap we buy from overseas, like we did before our politicians sold the farm to the highest bidder. Both parties will love this! Literally an open checkbook.
Sounds crazy, right? I think it can be pulled off. But it would take both parties to agree. The downside is we get wrecked quicker. The stock market will have to plummet. We'll have to be switched over to digital currency. Which is happening regardless.
How would it work? It would have to be a pact between our politicians and us citizens. We all have to understand the damage we're going to do to the rest of the world via our default. We all have to understand it's going to be painful at home as well. In which, we deserve the pain. We let it happen. Why pawn our problems off to the next generations?
Hyper inflation will catch up quickly. We'll be like post war Germany. Minus the wheelbarrows full of cash to buy a loaf of bread. Digital currency auto updates. Monday you may have $100 in your account. When hyperinflation hits, you're now worth $10K in a millisecond. Next month, that $10k is now $100k. Your new $100k will only buy your original $100 worth of goods. But, if you inflate enough. You could pay off $80T will a keystroke and maybe a Billion of origin capital.
Everyone would have to agree. Everyone would understand we may be fighting some folks on our turf. We currently have a fiat currency backed by limited faith, the belief we'll one day get our crap together, be responsible, and pay back our lenders. No one gets paid back.
With Trump at the helm. We'll have zero problem getting the world to dislike and not trust us. He's already basically ruined every long-standing relationship with every country.
How would you feel if all of your monetary wealth disappeared at 12am, Jan 1st? Then the next morning you wake up debt/ tax free. Only what you own and can touch is yours. Your cash is useless, local banks are no longer needed, your new gov monthly stipend covers your necessities. If you want more money, go get a job building America. Or you could sell some of your hard assets.. Or, we wait and it happens regardless in the future. Our gov is not going to stop printing money. They don't care about tomorrow.
There's a million of details I left out knowingly, and billions I can't think of. Yet the reality is we'll never lower our national debt until it implodes.
Then of course. Our politicians will just repeat the process that got us to $40T+ debt.
LOL! Trump just makes shit up. And you boomers fkn believe everything he says. Please explain how these tankers are filled secretly at night (which take days to fill) and traverse the fantasy route each night. Let's not even mention it's a minimum 3 day trip in and out of the straight...... fkn retards...
@benshapiro Ben... man, I wasted too much time listening to your bs. You got me! I thought you were 100% behind the USA. You're just another zionist pos.
@LauraLoomer Loomer is a wasted form of humanity. She's too stupid to understand her favorite country israel would no longer exist. If they were stupid enough to even make rhe attempt.
@nettermike What a retarded post. This shit happens here in the USA daily from folks across our border. Its been happening for 40+ years. Thus the need to secure our borders.
@NikkiHaley As soon as the USA follows the MOU. Ill expect the same from Iran. Haley is nothing more than a mouthpiece for the military industry and israel. She's a POS!