Benefits of Defaulting on the National Debt
Don’t think like a slave. Think like a free man, and you’ll see all the infringements on your God-given liberty.
The national debt is a scam in which the members of the Federal Reserve get rich by counterfeiting money, lending it to the government, and having you pay interest in the form of taxes. Other people get in on the game too. When the Chinese (or others) buy government bonds, they lend money to the government, and then it takes money by force from others in the form of taxes, and gives it to them for interest.
If you have government bonds, you’re doing the same.
This scam is perpetrated by the state, and is premised on the idea that the state owns you, your property, and your productivity, and therefore can take your stuff by force. As I’ve said before, we’re all being farmed, like animals.
You, of course, can’t do this yourself. If you print up money and lend it, or spend it, you’ll go to jail for counterfeiting. What the secret, privileged members of the Fed have done is get their pet politicians to pass a law giving them a monopoly of legal counterfeiting. It’s a license to commit a crime with impunity, and get rich doing it.
Government debt is simply the monetization of that privilege.
Normally, it’s morally reprehensible to renege on a debt — you’re supposed to pay what you owe. But the “national debt” is inherently different. It’s not a debt we agreed to pay. To test me on this, just try refusing to pay the interest — they’ll come get you with guns and throw you in a concrete and metal cage, like an animal.
What we’re talking about is not a debt. It’s extortion, and there’s nothing morally reprehensible about refusing to pay it. It might be prudential to pay it, but it’s not a moral obligation.
Defaulting on the national debt simply deprives criminals (and those who aid and abet them) of the financial benefits that accrue to masters when they exploit their slaves.