[ExI] etymology of just a piece of paper

[spike at rainier66.com]

From: spike at rainier66.com <spike at rainier66.com> 
Subject: RE: etymology of just a piece of paper

 

 

 

From: John Clark <johnkclark at gmail.com <mailto:johnkclark at gmail.com> > 
…

 

>>> but in addition to that, and perhaps far more important, is the militia, which is not part of the government.  This is good, for if the US government fails, the army fails.  But the militia is still here.

 

>>…I wish you were joking but I know you are not. …

 

>…I could have worded it better.  It isn’t that the military fails.  It is that the government fails to pay the military.  They must be paid…

spike

 

 

 

 

 

 

Consider the current situation in light of the risk that AI doesn’t kill us all.  (If it does, then don’t worry about the following.)

 

The Japanese yen is falling against the dollar, which means we can buy Japanese cars for less money and all, however… it carries a big risk: If Japan’s situation gets sufficiently dire, it starts dumping US debt, which drives US currency down with the yen.  If FRNs (dollars) begin to drop, the Federal Reserve will be unable to sell the bonds needed for the US government to borrow the money it needs to pay interest on the money it has already borrowed, and the money it needs to borrow to pay its current expenses, along with the new interest for the current borrowing.  If the federal government cannot borrow, it would demonstrate that the deplorable Elon Musk was right all along: the federal budget must balance.  Can’t have that, now can we?

 

If the federal government cannot borrow, it may try to make up the difference by increasing taxes, which will demonstrate the Laffer Curve, which always gets the last laff.  Then the federal government will no longer be able to pay the military.  Then the militia is all that is left to defend the nation, which is why the second amendment is there to start with.

 

This would be horrifying of course, but we might not need to worry about it: AI might destroy us before that scenario can play out.

 

spike

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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