Trump, or one of his friends talked about buying/mining bitcoin for America, to eventually pay off the national debt.
People have talked about minting a "Trillion Dollar Coin" so as to pay off the national debt.
Many conservative minded people talk about balancing the budget.
Do any of these people know what the national debt is?
Do any of these people know about fractional reserve lending works?
Do any of these people know that we have a debt based monetary system?
Do any of these people know that you are not obligated to pay back a scammer?
Criminals should not make any money from their crimes, so says the courts.
In a debt based monetary system, the first dollar is lent into existence. However, that first dollar has to be paid back with interest. If it is 5% interest per year, you owe $1.05, but there is only $1.00, so you will need to borrow another dollar, to pay the interest on this loan. And then another dollar, and another dollar.
You can't pay this back, just like you cannot pay off credit cards with more credit cards. The debt will just continue to accrue. Every year, more money has to be created than all the principal and interest owed the previous year.
The national debt is a subset of this cycle, with added bond creation, that get bought by the Fed, and thus dollars are created. So, a good portion of the national debt is our money supply. If we pay off the debt, The US Dollar disappears.
There isn't enough dollars to pay off the all the loans. There might not be enough dollars to pay off the national debt.
We are currently in a dollar crisis. There isn't enough dollars in circulation. If you noticed, the banks are loathe to give out dollars, and do everything they can to avoid doing that, even pretending their ATMs don't work.
The way fractional reserve lending is described is thus: If the bank has $100 on deposit, it can lend out a portion of that. Say $90, or 90% can be lent, and 10% has to be kept in deposit. Which seems rational, as not everyone needs to pull their money out of the bank, so the rest can be lent out. And the Fed said they would backstop all of this, so a bank wouldn't run out of money doing this. (infinite money can be created)
Another way to look at this 90% is that it can be used to turn that $100 into $900. As one loan goes out, it gets taken in by another bank, who can lend against it, and the next, and the next.
So, the banks take in $100 and create $900 out of thin air. This causes inflation. Money expansion is inflation.
Another way to look at this is when a bank makes a $100 loan, it steals 1 penny from the nearest 10,000 people with a dollar. Not much, but, it adds up over time. We have less that 1 cent left of purchasing power in our dollars, from when the Fed was created.
This is theft.
When you enter a contract with someone, both parties have to give something for the contract to be valid. Further, it has to be a balanced giving. You can't give $1 in exchange for something expensive, and call that a contract. The judge will not see that as a contract. The contract will be null and void.
So, when the bank makes a mortgage, the bank was given a house, which allowed them to make an equal amount of currency on their books (which they made out of stealing a penny from everyone around) and then gave that created money to the person selling the home.
No where in here has the bank actually given anything. The mortgage contract is not a valid contract, because the bank didn't give anything. Further, the bank gets paid twice. Once for getting a signed note from the borrower (worth the amount of the mortgage) and second from the borrower paying the bank each month. The bank, can and does sell both of these.
What the Fed does with The US treasury is just a bit more complex, but again, the Fed isn't giving anything. The contract that The US has with the Fed is null and void.
This, is the national debt. Why are we discussing paying it off?
So why would we give bitcoin to the Fed to pay off the national debt?
Why would we give a great big coin to the Fed to pay off the national debt? (The US treasury/mint can produce coins, and they can put any denomination on the coins they want)
The entire banking system is a scam. Where they trade pieces of paper for ownership of most of the world's assets. It isn't fair when the banks can just print money out of thin air, and buy up assets through their friends. (the Fed isn't supposed to own assets like real estate)
The banksters do not need to be paid back, they need to be locked up prison for destroying the world and causing so much suffering. Criminals should not profit from their crimes.