Nov
2
Would an America Free of Government Mean Default on $17T in Treasuries?
One of my colleagues recently asserted that ending the U.S. Government would result in a worldwide financial catastrophe because of the default on $17 Trillion in U.S. Treasuries.
The elimination of the U.S. Government doesn’t require a default on all or any of its debt. I believe the U.S. Government has plenty of assets to pay off its debt. They can sell their strategic oil reserves and auction off public buildings and national parks such as Yellowstone. With trillions of stolen money going back into the economy and the universal financial windfall created in the reality of free markets, I am sure non-profit environmental groups such as The Sierra Club will have no problem raising the money to secure and preserve the lands. They can sell off-shore drilling sites in the Gulf and Alaska. If non-profits don’t want oil companies to get their hands on those sites, they can raise the money to purchase them AND control them. The U.S. Government could also sell interstate highways, technology, and information. It is the big ticket items in the military, however, that will go furthest toward paying off the debt. I recently saw an article pointing out that the new F-35 is going to cost tax payers $1 Trillion — as much as the entire GDP of Australia (http://www.theatlantic.com/national/archive/2011/03/the-f-35-a-weapon-that-costs-more-than-australia/72454/). Think how much the U.S. Government could get for all of its planes, aircraft carriers, missiles, submarines, tanks, and drones.
http://thegreatcompromise.tumblr.com/post/34230169269/thats-right-americans-buy-as-many-ak-47s-as-the
Remember, the U.S. Government does not need to close shop for us to regain our freedom. They only need to allow for others to complete with them in regard to regulation, protection, currency, banking, infrastructure, and philanthropy (http://thegreatcompromise.tumblr.com/post/34642025477/how-we-transition-from-statism-to-anarchy). Unfortunately, they are overextended, have a negative cash flow, and need to sell assets to pay their debt.
Remember, the U.S. Government does not need to close shop for us to regain our freedom. They only need to allow for others to complete with them in regard to regulation, protection, currency, banking, infrastructure, and philanthropy (http://thegreatcompromise.tumblr.com/post/34642025477/how-we-transition-from-statism-to-anarchy). Unfortunately, they are overextended, have a negative cash flow, and need to sell assets to pay their debt.
This is, however, a unique moment in time. It is now that we have the assets to pay off the debt and transition to a free voluntaristic society while avoiding financial catastrophe. Soon total liabilities will exceed asset values since from a “profit and loss” perspective, operating expenses such as social security benefits, medicare benefits, pensions, welfare programs, military payroll, and law enforcement payroll exceed fixed asset purchases that have value and appear on the balance sheet.
http://thegreatcompromise.tumblr.com/post/31236877027/this-is-only-5-minutes-watch-this-why-romney
In the end, however, I no more have a problem with the U.S. Government keeping all of their own property than any other company keeping their own property. My only issue with the U.S. Government is its monopoly and use of force to collect fees to force me to pay their debt. If, in the end, it is just Barack in the oval office with a few of his cronies with no lights because they didn’t pay the power bill and maybe a couple of tanks on blocks in the yard, and they want to homestead the White House, or maybe start a private rights enforcement business, or perhaps a “community organizers for hire” business, and they make the White House their headquarters, and they want to name their private business “The U.S. Government”…well… then I have no problem with the U.S. Government owning property. Hell, let ‘em keep all their property if the free market will bear their fee and they can pay the debt—otherwise, the property should be liquidated or go to the creditors.
In the end, however, I no more have a problem with the U.S. Government keeping all of their own property than any other company keeping their own property. My only issue with the U.S. Government is its monopoly and use of force to collect fees to force me to pay their debt. If, in the end, it is just Barack in the oval office with a few of his cronies with no lights because they didn’t pay the power bill and maybe a couple of tanks on blocks in the yard, and they want to homestead the White House, or maybe start a private rights enforcement business, or perhaps a “community organizers for hire” business, and they make the White House their headquarters, and they want to name their private business “The U.S. Government”…well… then I have no problem with the U.S. Government owning property. Hell, let ‘em keep all their property if the free market will bear their fee and they can pay the debt—otherwise, the property should be liquidated or go to the creditors.
