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"The final sentence of Section 7 addresses a lot of that so-called %15 Trillion: All unfunded liabilities heretofore assumed by the United States are void."

My post was not clear -- when I mentioned the U.S. economy, I was referring to the GDP, not the debt.

It does not appear that the current GDP can be supported by a gold standard of $1,500 per oz.

My post was not clear -- when I mentioned the U.S. economy, I was referring to the GDP, not the debt.
It does not appear that the current GDP can be supported by a gold standard of $1,500 per oz.

But you're thinking is slightly warped in that the GDP can count the same money multiple times -- the little parable about the town where everyone is indebted to everyone else and the money from the visitor's wallet [$100, as I heard it] is 'borrowed' to pay back the one, who pays back the other until everyone's debt is cleared and the money then returned to the visitor is a good example: even though the total amount of the services the debt pays off is something like $600 there was only ever the $100 note in the story.