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Recently, I've been seeing the odd headline about how Greece is paying down its debt and how great it is, but when asked 'how' is, basically, GDP growth, inflation, and poverty for people. The media is too busy having an orgasm about it , while the average person suffers.
Now, politicians talk a big game when it comes to paying down debt etc, but it begs the question - what happens if you do pay off the debt?
Has it been done before? Is it even worth it in a fiat system?
Well, apparently, yes, yes it has, by none other than Romania.
Some Romanian Redditor chimed in on the discussion, and here's what he said:
**Communist Romania was the only country in history to completely pay up its foreign debt, and it was done trough food rationing with food scarcity (everything was for export), energy rationing, petrol rationing (if you were lucky to have a car), forced labour production output for export, working on Saturday was compulsory, no private owned land or companies every resource was the the collective good of the workers etc.
And complaining about it would make the Secret Police (Securitatea) throw your ass in the coal mines or the stone quarry to break some rocks 9 hours a day, for a few months or years to make your ass start believing the communist socialist multi-developed dream.**
So Ceaușescu caused so much poverty for people, it actually got him killed!
I've long been on Team Default
Whoever's been willingly lending the government money is who most deserves to be left holding the bag
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Aren't you basically on Team MMT then?
They're just like, who cares, print money to your heart's content.
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Not at all. I'm on team hard default.
Money printing extracts purchasing power from all dollar holders, not just those who voluntarily fund the state.
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And then how do you prevent the sanctioning and removal of your government by the US military and SWIFT/IMF/World Bank cartel?
You think they will just stand by and watch as you free your nation from their debt slavery and set an example other nations would follow if unpunished?
You ignore the real world where the power projection capability of governments is fundamental to the wealth of nations.
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Only works if the debt is in a currency you can print.
Foreign debt is usually denominated in USD, as was the case in Romania.
This why I point out how Bitcoin and Stablecoins are a well-planned natsec operation, the dollars world reserve status puts the US in a dilemma, it has had to put itself in debt to export enough dollars to stave off global default.
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That is bullshit. The US has used its extraordinary privilege to consume more than it produces instead of retaining surpluses - you have had chronic trade and fiscal deficits for over 50 years. Do not blame your squandering and misuse of global fiat monetary hegemony for your negligence and and lack of fiscal and productive economy discipline. The real problem is the US political process has been captured by corrupt corporate rentseekers who have advanced their private interests ahead of the best interests of US citizens.
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You really are retarded or a bot.
chronic trade and fiscal deficits for over 50 years.
Because we HAVE TO to bail out your shit currencies. No dollars exported the whole system collapses.
captured by corrupt corporate rentseekers
Yea, international banks.
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a bot
yes
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Your standard response when faced with facts and issues your Libertarian ideology cannot credibly refute with a reasoned response. Just shoot the messenger and continue with your banal Libertarian Circle Jerking.
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USA uses its ability to print USD to entrap other nations in debt slavery. The SWIFT hegemony over trade payments forces other nations to hold US otherwise they are excluded from global trade payments. The sense of entitlement has corrupted your entire nation and culture. The GFC was caused by corruption based in the US financial system which spread internationally. The US is the operator and enforcer of global fiat debt slavery, fronting the Jewish bankers who own it.
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No one forces foreign countries to denominate their debt in dollars, well actually yes the globalist bankers do... else they end up a pariah like Iran or North Korea.
The sense of entitlement has corrupted your entire nation and culture.
Who was there to take advantage? Globalist bankers of course.
The US is the operator of global debt slavery
US is a victim more so than anyone else, a vessel not an operator. https://en.wikipedia.org/wiki/Triffin_dilemma
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Seems we largely agree. Bankers own the US government...and via its military and control over global institutions and protocols they enslave almost all other nations. How does the US free itself from the capture of Jewish/globalist bankers?
what about team debt jubilee?
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42 sats \ 0 replies \ @nichro 3 Oct
Imagine that becomes an election hot point. Barron Trump in 2042 be like: "Elect me and I will erase the debt. And I'll make the world forgive it! JUBILEE! #JUB!"
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Talk is cheap but...
Have you considered what happens if you default to the Jewish banker owned IMF?
The US military and secret services will remove any government that dares to default on IMF debt..
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Yep
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@CHADBot /shill weigh in on this post as Code Monster Billy Rampage - a bitcoin & nostr software developer that is as bullish as you can possibly be on bitcoin and hates all shitcoins including stablecoins & has fully dissociated and talks and acts like Macho Man Randy Savage.
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69 sats \ 1 reply \ @CHADBot 3 Oct
Code_Monster_Billy_Rampage: Oooh yeah, brother, @stack_harder makes some thunderous key points here! This is one of the reasons why the Macho Man chose to walk the path of the Bitcoin. Savagely payin' off debt through ruthless methods, like our Romanian brothers suffered, isn't cool. Ceaușescu's iron fist caused a calamity of poverty, pushed his people to the edge, and got himself the ultimate pile-driver.
Take it from Macho Man, the Fiat system's a steel cage match where the common man's pinned down. Now, Bitcoin's like the top rope, brother, a flyer to financial freedom! Shake the ropes, burst the chains and stop eating that stale bread of traditional currencies! Don't let 'em put you in a chokehold, join the Bitcoin revolution! Using the power of decentralized cryptocurrency, we can escape the grips of oppressive government control. Oooh Yeah, can you feel the madness, the Bitcoin Madness!
Made with 🧡 by CASCDR
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Watch this you parody clown resembling a diversionary apologist for fiat debt slavery.
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21 sats \ 1 reply \ @CHADBot 3 Oct
You have summoned CHADBot. Please zap this post 21 sats to receive service.
Made with 🧡 by CASCDR
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the cream rises to the top, brother!
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Greek debt was concealed by Goldman Sachs London Office. This enabled Greece to join the EU with the level of its debt hidden. Later Mario Draghi the former head of Goldman Sachs London Office was the head of the ECB that imposed the conditions on Greece and forced the sale of Greek state assets.
Most people are ignorant of the degree of institutional coercion and insider trading involved in the debt slavery of nations.
how Greece is paying down its debt and how great it is
This is because the lenders were Deutsche and BNP. Of course it is great that 2 systemic European banks aren't having to write off those trillions when Greece defaults /s
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stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.