₦airaland Forum

Can the US actually pay off it's debts?

The US GDP is over 30 trillion dollars and some countries have a tax to GDP ratio of up to 45 percent. It means the US can even do more if they want to. The US can have an annual revenue of up to 12 trillion dollars and have a plan to pay off the debts totally in less than twenty years while having universal healthcare. The total debt is now around 39 trillion dollars with over 70 percent owed to local people and institutions.

The debt can certainly be paid by the USA but all sovereign debts should be added up and taken over by the United Nations after all economies have been restructured and the debts revalued. If all countries have the same cost of living then dollar debts will go down to not more than three to five percent of the current nominal value, prices of things will come down, farming will become far more profitable and a new United Nations will be able to pay the sovereign debts quite easily.

You excluded the over $1 trillion/annum being accrued in interest

Let’s be sincere, they cannot.

EXCEPT, they will have to steal the resources of like 10 strategically important nations!

No wonder they're after Iran resources

HacheNoire:
You excluded the over $1 trillion/annum being accrued in interest

Let’s be sincere, they cannot.

EXCEPT, they will have to steal the resources of like 10 strategically important nations!

HacheNoire:
You excluded the over $1 trillion/annum being accrued in interest

Let’s be sincere, they cannot.

EXCEPT, they will have to steal the resources of like 10 strategically important nations!

They owe the money mainly to themselves. They can stop the money from moving out of the country. If they have government revenue of over 12 trillion dollars per annum, they will pay it off if they want to

HacheNoire:
You excluded the over $1 trillion/annum being accrued in interest

Let’s be sincere, they cannot.

EXCEPT, they will have to steal the resources of like 10 strategically important nations!

Can your own bambiala government whose despite the many Boro Boro but still can't provide basic amenities pay her own debts?

Jakarta:
Can your own bambiala government whose despite the many Boro Boro but still can't provide basic amenities pay her own debts?

Yes!

Our debt is not ahead of our GDP. It is very feasible under prudent planning.

The US is broke and desperate.

HacheNoire:
Yes!

Our debt is not ahead of our GDP. It is very feasible under prudent planning.

Of what use is your GDP when basic amenities are being regarded as luxuries? You don go collect Ur phone from pay charge ?

Jakarta:
Of what use is your GDP when basic amenities are being regarded as luxuries? You don go collect Ur phone from pay charge ?

That the administration of His Excellency, President Asiwaju Bola Ahmed Tinubu (GCFR) is working on!

Be patient! Our great country will shock you!

HacheNoire:
That the administration of His Excellency, President Asiwaju Bola Ahmed Tinubu (GCFR) is working on!

Be patient! Our great country will shock you!

It is already shocking me with never heard porverty rate, Christian's death now considered normal, bandits now uploading live tiktok videos of ransom payment. President now even scared of leaving the airport to address families of those slaughtered by terrorists. These same terrorists are now even being granted amnesty and drafted back into our commuinities. With Jagaban bad news Na water.

I don't think that the US can pay off it's debt, and this is why they are creating proxy wars endlessly to steal natural resources. The U.S. owes China a significant amount. China is one of the top foreign holders of U.S. debt

lawani:
They owe the money mainly to themselves. They can stop the money from moving out of the country. If they have government revenue of over 12 trillion dollars per annum, they will pay it off if they want to

They owe the money to the banks which is run by Zionists like the rosthchilds.
The bank sustain the US govt.

if they cut spending they can use long-term to sort that out.

the military complex maintenance is too high. and too much fraud and over price equipment,

HacheNoire:
You excluded the over $1 trillion/annum being accrued in interest

Let’s be sincere, they cannot.

EXCEPT, they will have to steal the resources of like 10 strategically important nations!

The debt is not real debt. It includes about 1 trillion dollars being hoarded by China and even more by Japs

lawani:
Can the US actually pay off it's debts?

They don't have to and they never will - for same reason the bank will never pay you the value (gold) of the IOU (paper money) in your pocket - because there's always another person willing to take the IOU

QuinQQ:
They don't have to and they never will - for same reason the bank will never pay you the value (gold) of the IOU (paper money) in your pocket - because there's always another person willing to take the IOU

If they are paying down the debt and creditors are bringing more which will probably happen, it only means interest rates will drop and the debt will become even easier to pay off.

Banks will pay you whatever is in your account and commercial banks don't determine inflation rates

fineboynl:
if they cut spending they can use long-term to sort that out.

the military complex maintenance is too high. and too much fraud and over price equipment,

Yes that is exactly what I am saying

lawani:
If they are paying down the debt and creditors are bringing more which will probably happen, it only means interest rates will drop and the debt will become even easier to pay off.

Banks will pay you whatever is in your account and commercial banks don't determine inflation rates

Banks don't pay you anything. They give you an IOU (that's ALL paper money is - it's an IOU from the bank acknowledging they owe you whatever is written on the money).
Just like paper money (which is debt), US debt is is also exchanged between buyers and sellers, and there are always people willing to take them (just like money).

QuinQQ:
Banks don't pay you anything. They give you an IOU (that's ALL paper money is - it's an IOU from the bank acknowledging they owe you whatever is written on the money).
Just like paper money (which is debt), US debt is is also exchanged between buyers and sellers, and there are always people willing to take them (just like money).

That only applies to central banks that produce money. Commercial banks don't produce money. Commercial banks only manage money

lawani:
That only applies to central banks that produce money. Commercial banks don't produce money. Commercial banks only manage money

Of course Commercial banks create money all the time. If you deposit $10 in a bank. They'll keep $1and lend out $9 - they just created $9.

HacheNoire:
You excluded the over $1 trillion/annum being accrued in interest

Let’s be sincere, they cannot.

EXCEPT, they will have to steal the resources of like 10 strategically important nations!

Did you omit the part where they owe themselves (businesses and individuals in the US) over 70%?

Sheuns:
Did you omit the part where they owe themselves (businesses and individuals in the US) over 70%?

The point is they are indebted!

Whether is Japan, BOA or Black Rock, they are still owing and paying interest on all to the tune of $1 Trillion per annum.

QuinQQ:
Of course Commercial banks create money all the time. If you deposit $10 in a bank. They'll keep $1and lend out $9 - they just created $9.

Commercial banking is a brokerage. If you have excess money to lend people, they will take it from you and pay you, if you need money for anything you go to them, they give you the money and charge you and etc

Central banks determine the volume of money in circulation. They are the one creating money and not commercial banks. They print money that must be accepted by anybody in their jurisdiction and commercial banks can't do that

lawani:
Can the US actually pay off it's debts?

The US GDP is over 30 trillion dollars and some countries have a tax to GDP ratio of up to 45 percent. It means the US can even do more if they want to. The US can have an annual revenue of up to 12 trillion dollars and have a plan to pay off the debts totally in less than twenty years while having universal healthcare. The total debt is now around 39 trillion dollars with over 70 percent owed to local people and institutions.

The debt can certainly be paid by the USA but all sovereign debts should be added up and taken over by the United Nations after all economies have been restructured and the debts revalued. If all countries have the same cost of living then dollar debts will go down to not more than three to five percent of the current nominal value, prices of things will come down, farming will become far more profitable and a new United Nations will be able to pay the sovereign debts quite easily.

Yes, the US can easily pay off its debts
Reason: the debts are denominated and accounted for in US dollars, which is the currency of the US. So the US can literally print the dollars to pay off its debts.
The worst possible implication would be inflation, which is why they may choose not to do so

mikeapollo:
Yes, the US can easily pay off its debts
Reason: the debts are denominated and accounted for in US dollars, which is the currency of the US. So the US can literally print the dollars to pay off its debts.
The worst possible implication would be inflation, which is why they may choose not to do so

The US may not want to follow that path. Though most countries do it.

lawani:
Commercial banking is a brokerage. If you have excess money to lend people, they will take it from you and pay you, if you need money for anything you go to them, they give you the money and charge you and etc

Central banks determine the volume of money in circulation. They are the one creating money and not commercial banks. They print money that must be accepted by anybody in their jurisdiction and commercial banks can't do that

See below. Money is NOT created through printing. Money is debt, albeit transferable debt.
What Central Bank prints are physical IOU's representing debt (money). Anyone who has the power to issue transferable debt without actually giving you anything, has the power to create money.

QuinQQ:
See below. Money is NOT created through printing. Money is debt, albeit transferable debt.
What Central Bank prints are physical IOU's representing debt (money). Anyone who has the power to issue transferable debt without actually giving you anything, has the power to create money.

Nobody is depositing metal to central banks anymore before they issue currency to them and that is why it is called Fiat currency. It is not backed with anything. It is not IOU anymore but it used to be. Nowadays it is just a liquidity facility. It isn't an IOU. The value of a fiat currency can go down by ninety percent overnight. So is it an IOU when it can be devalued overnight? No.

Commercial banks however can't devalue currency by issuing new ones. They are restricted to taking deposits and giving loans.

A commercial bank manager will go to prison if deposits is not equal to loans plus balance

lawani:
Nobody is depositing metal to central banks anymore before they issue currency to them and that is why it is called Fiat currency. It is not backed with anything. It is not IOU anymore but it used to be. Nowadays it is just a liquidity facility. It isn't an IOU. The value of a fiat currency can go down by ninety percent overnight. So is it an IOU when it can be devalued overnight? No.

Commercial banks however can't devalue currency by issuing new ones. They are restricted to taking deposits and giving loans.

A commercial bank manager will go to prison if deposits is not equal to loans plus balance

People almost were never depositing metal in central banks. That's not what makes money debt. Modern money is considered debt because it is created through lending. Since the 1971 shift away from the gold standard, most currency is generated when loans are approved, making the money supply functionally reliant on debt creation. When a commercial bank approves a loan, it creates new money.