Author Topic: Odious Debt Principle and US National Debt (Read 285 times)

FUNKED1 · « **on:** July 17, 2004, 03:55:22 AM »

When we finally break the shackles of DNC/GOP tyranny, can we apply this principle to the national debt?

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If a despotic power incurs a debt not for the needs or in the interest of the State, but to strengthen its despotic regime, to repress the population that fights against it, etc., this debt is odious for the population of all the State.

This debt is not an obligation for the nation; it is a regime's debt, a personal debt of the power that has incurred it, consequently it falls with the fall of this power.

Gunslinger · « **Reply #1 on:** July 17, 2004, 10:32:32 AM »

I have no clue how the economy works but what would happen if we said "screw you guys we aint payin you chit"?

Nash · « **Reply #2 on:** July 17, 2004, 10:57:31 AM »

Like Gunslinger, I suck at the economy... But it's an interesting question. What IF they did that?

Lizking · « **Reply #3 on:** July 17, 2004, 11:13:09 AM »

We did. That is the rationale used for erasing Iraq's debt.

Nash · « **Reply #4 on:** July 17, 2004, 11:15:16 AM »

I got kinda confused there too, Liz.... but Funked is talkin' about the US forfeiting (or whatever the term is) its OWN debt.

Lizking · « **Reply #5 on:** July 17, 2004, 11:17:16 AM »

When Canada invades us and installs a Liberal weenie PM, then that PM will use the same theory to absolve all prior US debts. Works for me.

Nash · « **Reply #6 on:** July 17, 2004, 11:29:03 AM »

Nah... We like things as is. You make some good movies and you buy crap loads of stuff from us.

Thrawn · « **Reply #7 on:** July 17, 2004, 12:25:34 PM »

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Originally posted by Gunslinger
I have no clue how the economy works but what would happen if we said "screw you guys we aint payin you chit"?

US economic collapes. When the US government can no longer honour ist's finanical obligations you will see capital flight like crazy out of the US.

Masherbrum · « **Reply #8 on:** July 17, 2004, 01:18:53 PM »

We've been a debtor nation since our Revolutionary War days. France, Britain, and the other Allies from both World War's owe us hundreds of Billions, as do we. But if those debts were to be paid. The World's Economy would be drastically affected.

Karaya

Thrawn · « **Reply #9 on:** July 17, 2004, 03:35:35 PM »

I don't know about other allies but Britian paid in full, it took decades.

vorticon · « **Reply #10 on:** July 17, 2004, 03:56:30 PM »

Quote

Originally posted by Gunslinger
I have no clue how the economy works but what would happen if we said "screw you guys we aint payin you chit"?

they would send someone in to extract the money from the various appendages of your leaders.

not that we want you to pay us in chits or ****s anyway...gold will do nicely