[ExI] antiscience from both sides

[Darin Sunley]

When the bonds come due the government pays out those obligations with cash
on hand, Since they have no cash, they borrow it from the Fed, promising to
pay for it with future cash on hand from general revenue.

What it ultimately comes down to is they're borrowing against assumed
future tax revenue.

Which, as I mentioned upthread, works excellently until it suddenly
doesn't, though the prevailing assumption seems to be that any event
disruptive enough to stop it from working will render any actual repayments
moot.

On Wed, May 6, 2020 at 2:43 PM Dave Sill via extropy-chat <
extropy-chat at lists.extropy.org> wrote:

> On Tue, May 5, 2020 at 4:14 PM SR Ballard via extropy-chat <
> extropy-chat at lists.extropy.org> wrote:
>
>> Like I’ve said before, if EVERY country is in debt (and they all do seem
>> to be), then who owns all that debt?
>>
>
> Anyone or anything that bought those bonds. Governments don't hold much of
> the debt. It's mostly funds and individuals.
>
> -Dave
> _______________________________________________
> extropy-chat mailing list
> extropy-chat at lists.extropy.org
> http://lists.extropy.org/mailman/listinfo.cgi/extropy-chat
>
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.extropy.org/pipermail/extropy-chat/attachments/20200506/f985962c/attachment.htm>