Loading ...Plan To Retire US Government Debt
This is my plan to retire the US governments $35+ trillion in debt. It consists of three basic parts. They are all connected and related. The US government is the single largest owner of land.
After categorizing and valuing US owned land, excluding military bases and national parks, all other land should be sold via public auctions. Those proceeds will be used to buy actual physical gold, held in trust accounts, to back the issuance of 50 year zero coupon bonds.
The proceeds of the zero coupon bonds will be used to pay off maturing debt that comes due. If the amount of land sold isn’t enough, the government should consider selling off some or all of the national parks to private entities with stipulations that they continue to be operated and maintained as such by the purchasers.
This is a process that will take a number of years. You aren’t going to sell all the land in just one or two years and you aren’t going to sell the 50 yr. zero coupon bonds all in one or two years either. Lets say it is a ten year plan.
That holds true for the maturing debt that you are retiring as well. The gold that you are purchasing and holding in trust for the coverage of the 50 year zero coupon bonds is going to appreciate in value over the years. Whichever Presidential candidate is elected, would be wise to adopt such a plan.
Without deep cuts to Federal spending, nothing would change. The Nanny state is so intrenched that it is going to be difficult to extract the Feds from our lives not to mention the trillions spent on foreign entanglements.
While controlling spending is an important issue that also needs to be addressed it is separate although indirectly related. The interest on the debt is now the single largest item other than SS & Medicare and larger than the national defense budget. If the above plan were adopted you would be reducing that and getting the debt under control and back to manageable levels. A budget freeze and review of the entire list of all govt. programs needs to be undertaken to attack the spending problem as well.
Chartsmaster For Treasury Secretary
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I assume you mean sell American land to American interests, and not to Asian or European interests.
There is not a fraction of $35 trillion in savings held by Americans to buy the land. The government will have to print it.
At today’s prices $35 Trillion will buy 400,000 tons of gold – that’s 50 times the gold supposedly held in Fort Knox. Even if they print enough currency, there’s not enough Gold – Unless the price of gold rises 50 fold.
Meanwhile the debt continues to increase by $3 Trillion / year.
Conclusion: The currency is beyond redemption. It will fail.