Harland,
What is your evidence it's the socialist solution and not the libertarian
solution?
Warm regards, Michael
What is your evidence it's the socialist solution and not the libertarian solution?Good question. Under other conditions, seizing the park might be libertarian, but certainly not in these circumstances. Any libertarian solution must respect private property. Our governments owe a lot of money in the form of bonds. Those bonds are private property, and become worthless if the government cannot pay them. Government owes more than it owns. It has no "equity". All government property rightfully belongs to the government's creditors, just as an "underwater" house rightfully belongs to the bank.
Harland
Harland,
I don't think we should consider only those creditors formally acknowledged by governments. If bond holders are recognized to have legitimate claims to government assets, then I believe probably around 95-99% of people in any given jurisdiction and substantial numbers of those outside the jurisdiction must also be considered creditors. Almost everyone pays taxes in one form or another, many have been injured or had relatives killed by government violence, were wrongfully imprisoned in government prisons or schools, arrested, had property or children seized from them, or been denied freedom of movement, rightful employment, substantial life opportunities, etc.
In fact I would argue that people who were purely victims with little or no choice in the matter have a higher claim on compensation for their losses or the wrongs done to them than do investors who provided financial support to governments by freely choosing to take the risk of buying government bonds.
The only individuals in the United States I can think of who might not have a reasonable claim to being creditors of the U.S. government are those who've had a direct hand in perpetrating significant aggression on its behalf, or demonstrably benefitted from government aggression more than they were harmed by it -- law enforcement agents who have personally committed aggressive violence on the job over a period of time, high-level government employees, businesspeople who made lots of money from government contracts or political patronage, etc.
Love & Liberty,
((( starchild )))
First of all , please excuse my spell checker if it inserts a few non sensical words. I haven't figured out how to stop it yet. Still , I think I do a pretty good job as a blind guy.
A house in foreclosure rightfully belongs to the bank because that is what the mortgage contract says.
A bond issued by the government is guaranteed by the full faith and credit of the same. It has no faith and ultimately will have no credit, but it is most definitely full of it.
Bond buyers take a risk. You takes your chanches, you lose.
the best thing in the world for liberty is for those who gamble on government to lose. that may stop the madness.
Of course, most of the buyers of bonds are forced into by law. Most insurance companies and pension funds are required by regulation to invest in AAA bonds , and the government writes the rules on who can make that call.
In addition, banks are forced by regulators to use bonds as a safe asset, and to load up on them, and then reload and reload in a process called hypothecation, which destroys the banks when the government debt is finally seen for what it is.
It's all a giant Ponzi. The gbondd is now being seen for what it is, an instrument of financial mass drustruction. The banister government cabal yield the bond over our heads as a weapon of financial terror.