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Podcast: PRay TeLL, Dr. Hash
Episode: 72 Tribute Economics
Description: Does America's $18 trillion National Debt ever have to be paid back? The short answer is no. America can run Trade & Budget deficits indefinitely on the backs of foreign "investment." The U.S. is subsidized by the rest of the world via Treasuries, and we have no intention to ever pay them back, our nation depends on the money. We can do this because of our economic power, so essentially the rest of the world is "taxed” to maintain the American standard of living.This could perhaps go on forever if the $ remains the World's de facto reserve cu...