“But you can back your currency with pledges against ASSETS.”
Oh, thank you very much for your helpful insight on financial matters, it really is quite interesting.
However, your point, if you were honest, is that you want to have the currency supported by whatever asset is required so that you continue to get your generous pension.
Right?
No, we save our assets for later. first we zero out all of our obligations, THEN we use the assets we have to collateralize a new currency. (This is what Greece is going to do) Perhaps they’ll let you sweep the floor of the best hotel at the Grand Canyon, in return for scavenging rights to the dumpsters.
That seems fair, no?
It was pretty obvious you needed a lesson in currency ~ so I went pretty basic. It's equally obvious you have no idea how Greece ended up where it is ~
The US Government has assets so vast you, personally, cannot imagine them. There's no excuse for them not paying their bills and backing their currency.
Any attempt to repudiate the public debt of the federal government would run afoul of the 14th amendment that says: "SECTION 4.
The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned "