no third solution

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The Default Meme

February 26th, 2009

I’ve seen variations on the “repudiate the debt” meme floating around the internet, but the best one I’ve come across to-date, was in Another Extreme Meme That Needs to Get Out There – Default, at Samizdata (if you can skip past all the totally unnecessary, and tangential “kill all muslims” bullshit in the first paragraph or two):

It needs to be said that under certain circumstances easily now imaginable, many Western citizens would argue, strongly and vocally, that those idiot foreigners who are now lending money to Western governments should in due course be told: sorry sunshine, you ain’t ever going to get it back. Our governments are bankrupt. Why the hell should we and our descendants in perpetuity be paying tribute to you? You knew that the money to pay you back would have to be stolen from us. You assumed we’d just cough up indefinitely. Well, we damn well won’t. You are now a definite part of our problem, and telling you to take a hike is going to be part of our solution. Our thieving class is now “borrowing” money from your thieving class like there is no tomorrow, and we are not responsible for the actions of either gang. A plague on both your houses.



  • FSK says on: February 27, 2009 at 12:15 am


    You’re missing the point.

    If you want to default on the national debt, you should boycott the Federal Reserve and use gold and silver as money.

    If you want to boycott the Federal Reserve, you also have to boycott the income tax. The IRS only accepts Federal Reserve Points as valid for payment of taxes. Part of the income tax proceeds are used for interest payments on the national debt (i.e., subsidies to the banksters).

  • George Donnelly says on: February 27, 2009 at 8:51 am


    Both of the points made are correct and we need to follow up on both courses of action.

    Help this idea that nobody but the little dictators dba “The Government” are responsible for the debt seep into the minds of statist folk and build the counter economy.

no third solution

Blogging about liberty, anarchy, economics and politics