I’ll take a shot at the answer:
Under our current monetary system it is Impossible to Pay Off the Debt, let alone stop the debt from growing annually. All Federal reserve Notes and Credits have been LOANED into existence with Interest attached. If the National Debt were paid off tomorrow there would not be a single Dollar or Credit in Dollars in existence, all that is left is Coinage which is Issued. I doubt very seriously the masses are ready for 10 cent loaves of Bread again. And NO there is not enough Coinage to pay the INTEREST DUE, for that can only be Paid through the Blood and Sweat of Labor, by design. Welcome to serfdom.
I doubt very seriously the masses are ready for 10 cent loaves of Bread again.
Are you kidding? I am. 3.50 for a loaf of bread is outrageous. I am all for 35 cents for a gallon of gas too.
“Under our current monetary system it is Impossible to Pay Off the Debt,”
Under our current monetary system, money IS debt. Nearly all of it is fractional-reserve overlending, and the Federal Reserve playing the game of $0 = -$1 + $1. Pay off the debt, and there is very little cash remaining (about $2-3T, that’s $10,000 per person).