Quote from: RealBitcoin on October 30, 2015, 12:30:57 PM

Quote from: uki on October 30, 2015, 09:01:59 AM

Quote from: NorrisK on October 29, 2015, 10:45:31 PM

Isn't it pre-determined when the debt should be payed back?

They probably use the money they borrow from other countries, that is worth less when they borrow it a couple years later, to pay the old debts.

Rinse and repeat.

Bonds on expiration are paid with the money from freshly issued bonds, so effectively they are rolled over to another period, be it 10, or 30, years.
This is repeated endlessly, each time the cost of the operation is higher. The cost doesn't matter however as FED can print the amount that is required.
This game is called 'kick the can'.

The game is called keynesian ponzi scheme. It's a ponzi scheme where you have a pyramid ownership, and everybody pays a part to the top of the pyramid (the elite), when they run out of money or new participants, they just print up more (confiscating from the already paid out clients) to run the scheme.

It is a complicated and well thought scheme, but it's still a ponzi scheme.

I thought Ponzi scheme is a crime in many countries. I did not realize the US government is acting like a Ponzi scheme manager. Any way, they dictate the law, and it is not a crime for them.