A Debt Question...

Somehow I doubt we collect much of the debt owed us from any of the countries. I don't know how many times I've read about us forgiving the debt to so and so. Not sure how it would affect our debt as we are loaning money we don't have in the first place.If it were done honestly, it we be added to our debt when we loan it.But you know how the book keepers in government operate

It is like loaning money to a jerk. He knows he owes you but will never repay you. It is just that simple.

no no debt is a foggy term ill make it as simple as I can. most of our debt is not held by other countries like "china" we hold it as bonds other countries hold a small % of our debt. now most of the larger countries that stand little chance of being over thrown run this way. smaller countries debt is more likely held by the imf or world bank. There debt is never forgiven! Take Haiti when they won independence they had to pay France because France lost money because they weren't slaves anymore. that debt was paid in full 4 years ago. if Haiti could lets say go bankrupt they would no longer be one of the poorest countries on earth. debt is how we hold on to our subjects.

Will we collect the debt owed to us, I seriously doubt it. Will we pay the debt we owe, I seriously doubt it....

The powers to be might as well wipe the books clean, and give every country a fresh start....

What would happen if that actually happened? The sun would probably rise as usual, people would get up, go to work, basically go about their bus as usual....

Perhaps one day we will have replicators like on Star Trek, or the ability to make anything from nothing, and none of the above gibberish will matter anymore, lol....

You mean that you don't think it is going down the tubes as we speak? It seems that way to me. I'm almost 62 years old now and have been observing this nation since the mid-1950s. I have seen MANY changes... and even a few improvements. For the most part, though, the changes have not been improvements.

Cheapening the US dollar has been one of the worst, IMHO. Many people do not give this a thought. A dollar is a dollar, right? Uh, no, not actually. When US coins went from 90% silver to 40% silver most people did not give it a second's thought... and we should have! The value of our money was cut to less than half of its former value with that single move. Things like that are one more step on the way to financial disaster and we should resist them at every possible opportunity.

Then, not satisfied with that, they again cheapened US coinage by removing ALL of the silver from our coins, creating basically fiat coins to go along with the fiat paper money. Gradually, over time, the value was taken from our money which allowed inflation to silently steal billions (trillions?) of the dollars that we had saved. Yet again, there was no protest over this move.

In any case, only the oldsters among us even remember what REAL money was all about and what it looked and felt like in everyday use. Flip a silver dollar into the air with your thumb and forefinger sometime and listen to the sweet music of its clear bell-like RING! To me, that is the sound of freedom ringing! Then do the same with one of those junk cupro-nickel coins... clunk.

Unlike most folks, coin and bullion collectors get it. We know that fiat money is a financial train-wreck just waiting to happen. It is not a question of IF it will happen but WHEN. Protecting our family's net worth is a job not to be taken lightly. It is a serious matter and most of us here take it in just that way.

PMs are an extremely valuable form of financial insurance that will serve us well against both inflation and financial disaster. No matter how trashed the US paper dollar becomes, PMs will continue to have increasing value. Yes, this value bounces up and down and goes sideways too because nothing in life is ever constant for very long. Over the long term I would FAR rather preserve wealth with something that is real, solid, and has intrinsic value that government incompetence will not foul up. Anyone here think that the same can be said for the US paper dollar?

Paper money still has its uses and I am not demeaning them. It is only the declining value of this money that is the problem. As long as people accept paper money, not as the mere promise to pay debts in full but as payment in full itself, then it can be used to buy things that are of real value... such as PMs, tools, land, lumber, etc. It is a convenience for sure but staking our family's financial future on it alone would be a terrible mistake, IMHO.

Like a mixed metaphor, you are confusing value with inflation. Without fiat currency, inflation virtually never exists and a $1 silver coin would remain worth $1. Check the history books on this and you will discover that there was virtually no inflation at all in the US between 1800 and 1900. Since 1965, however, the value of the dollar, as defined by silver, has dropped from $1 to about 3 cents... in real buying power. Paper money was once backed by gold and silver. Both Gold and Silver Certificates were in widespread use. Gold and silver coins were also available for use as money. The only reason we now need trillions of declining value dollars to do the work of millions of dollars worth of gold and silver is because of inflation, a paper money effect.

Yes, I am aware of the history of aluminum and its pricing. As a retired Ph.D. level research chemist, I should be.