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To: Jonty30
Devaluing the dollar would mean those services the government purchases would rise in cost, offsetting any benefit in paying off debt because the government would necessarily need to borrow even more.

Our current economic system represents an existential threat to all of humanity. Only a slow, well-thought-out transition to a different monetary system (for example, precious metals, some form of cryptocurrency, etc.) stands any chance of avoiding a complete worldwide collapse of the current system.

This problem-solving isn't going to happen given our current leaders or history as our guide.

The best option then would be the government getting out of the money business entirely and allowing people to develop new exchange methods on their own.

Full disclosure: I fell asleep in every economics class I ever attended and I own precious metals, cryptocurrency, and hold cash in reserve.

43 posted on 06/28/2021 5:13:50 PM PDT by amorphous
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To: amorphous
Devaluing the dollar would mean those services the government purchases would rise in cost, offsetting any benefit in paying off debt because the government would necessarily need to borrow even more.

How about they just stop spending on things they're not supposed to spend on? That might force us to execute Congress, though.

67 posted on 06/29/2021 3:14:24 PM PDT by JimRed (TERM LIMITS, NOW! Militia to the border! TRUTH is the new HATE SPEECH.)
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