RyanTheRhino
Well-Known Member
China does not hold most of our debt. China does however hold the largest foreign debt, but most of our debt is from the government taking money out of the citizens pockets. Oh and the federal reserveHere is a theory, if China controls most of our debt and we are obviously having big trouble paying it back, could there be a shift where to pay back the debt, America becomes full of sweat shops and China uses us to make its products?
I say this because I also think we as a people are losing more control and power every year, while our government continues to pass new laws that give them more and more power, not to mention our government growing every year as well, could we get to a point where we as a people are forced to work in sweat shops to pay back our debt? I also feel in a way that we would probably deserve it and I also think most other countries would not shed a tear if it came to that.
Basically government bonds still owed to the people with interest & the fed reserve