Aces High Bulletin Board

General Forums => The O' Club => Topic started by: FUNKED1 on July 17, 2004, 03:55:22 AM

Title: Odious Debt Principle and US National Debt
Post by: 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?  :)

Quote

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.

Title: Odious Debt Principle and US National Debt
Post by: Gunslinger 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"?

Title: Odious Debt Principle and US National Debt
Post by: Nash 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?

Title: Odious Debt Principle and US National Debt
Post by: Lizking on July 17, 2004, 11:13:09 AM

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

Title: Odious Debt Principle and US National Debt
Post by: Nash 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.

Title: Odious Debt Principle and US National Debt
Post by: Lizking 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.

Title: Odious Debt Principle and US National Debt
Post by: Nash 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. :)

Title: Odious Debt Principle and US National Debt
Post by: Thrawn on July 17, 2004, 12:25:34 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"?

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.

Title: Odious Debt Principle and US National Debt
Post by: Masherbrum 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

Title: Odious Debt Principle and US National Debt
Post by: Thrawn on July 17, 2004, 03:35:35 PM

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

Title: Odious Debt Principle and US National Debt
Post by: vorticon 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