Page 10 of 10 FirstFirst ... 8910
Results 91 to 91 of 91

Thread: How to use this Lesson Plan.

  1. #91
    Senior Member
    Join Date
    Apr 2015
    Location
    Massachusetts
    Posts
    216
    Name:  ExceptInterestOnPublicDebt.jpg
Views: 3
Size:  79.3 KB

    A FRN cannot be used to pay interest on the public debt. To what can we liken it? I will tell you. Let's say ...

    Walmart issues an unbacked currency to pay its workers. Walmart Reserve Notes (WRN) are not money per-se but are useful for what they will purchase; anything at Walmart. And then Walmart loans these notes at interest to the government (public debt), but the issuer will not accept WRNs in payment of that interest. They won't accept their own notes! The company wants real money for that; gold or silver; something of value.

    This is a sign of a scam, an indication that WRNs are $hit; potentially worth nothing. A currency designed to extract wealth. Furthermore, if Walmart goes bankrupt and out-of-business what good are WRNs?

    Disclaimer: This is a hypothetical only to illustrate Federal Reserve notes and the author does not wish to paint Walmart in a negative light.
    Last edited by lorne; Yesterday at 07:05 PM.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •