You’ve heard of no true Scotsman, well that’s compared to me, the only true Scotsman. Everything I am is all things that are forever and not, therefore the fallacy isn’t.

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Joined 3 months ago
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Cake day: December 7th, 2024

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  • It doesn’t have to come out today tax payers pockets, that’s the entire thing. The money doesn’t exist, the debt doesn’t exist.

    We made up this system specifically so we didn’t have to keep exact books, that’s the point of fiat currency over backed currency. If we don’t use its primary feature for good, ever, we may as well go back to the gold standard which would elimate nearly all banks and lenders at this point in the capitalist finite curve.


  • No it can be ‘magically’ erased, it was ‘magically’ created out of thin air with nothing backing it. The money doesn’t actually exist, the asset for non existent money can simply have zero value. Loans are erased this way literally constantly. In fact more loans are erased this way than actually paid, if only by volume and not purported value. This is what happens when you default and no value is reclaimed on a loan, or when one defaults on a healthcare bill with an arbitrary price tag.

    There is absolutely no reason, whatsoever, the lender has to be made whole. That’s not a thing in other circumstances where loans lose all value and the money created for them disappears.