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codiusrex

XRP is Debt-Free Currency

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Considering XRP was not issued as a debt instrument, such as a Federal Note vs. United States Note, it (XRP) should be considered a Debt-Free Currency —albeit not issued by the US Govt. 

https://www.infowars.com/debt-free-united-states-notes-were-once-issued-under-jfk-and-the-u-s-government-still-has-the-power-to-issue-debt-free-money/

6D35756D-FE39-43C5-A7CE-AC9D2655A96C.jpeg

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1 hour ago, codiusrex said:

Considering XRP was not issued as a debt instrument, such as a Federal Note vs. United States Note, it (XRP) should be considered a Debt-Free Currency —albeit not issued by the US Govt. 

This is exactly why digital currencies are coming into favor in certain circles of power- the realization that they are not inflationary, meaning losing value by the year because more will be printed, hence will be more utilized as reserves as global currencies experience more serious rates of inflation.  I don't think we're too far off from that either in a world where the three largest economies are in serious debt and paying that debt by printing more money....

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33 minutes ago, xrphilosophy said:

This is exactly why digital currencies are coming into favor in certain circles of power- the realization that they are not inflationary, meaning losing value by the year because more will be printed, hence will be more utilized as reserves as global currencies experience more serious rates of inflation.  I don't think we're too far off from that either in a world where the three largest economies are in serious debt and paying that debt by printing more money....

Instead of printing more money, they create digital currencies out of thing air to finance their debt -- Brilliant!

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1 hour ago, Archbob said:

Instead of printing more money, they create digital currencies out of thing air to finance their debt -- Brilliant!

There has to be some way to transact short of seashells and coconuts.  I'm not pointing to the economics of all this, just the reality of it...Here we are in 2019, and this IS the reality of our entire globe.

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Posted (edited)
  • Bank Deposits are a liability of (issued on) a private bank, accounted for on the bank's ledger.
  • Cash is a liability of (issued on) a Central Bank, accounted for on the Central Bank's ledger.
  • XRP is a liability of (issued on) the XRPLedger, accounted for on the XRPLedger.

The nature of the control over ledger entries, and governance of these ledgers varies.

Edited by KarmaCoverage

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5 hours ago, xrphilosophy said:

This is exactly why digital currencies are coming into favor in certain circles of power- the realization that they are not inflationary, meaning losing value by the year because more will be printed, hence will be more utilized as reserves as global currencies experience more serious rates of inflation.  I don't think we're too far off from that either in a world where the three largest economies are in serious debt and paying that debt by printing more money....

Yeah, QE is a scary thing that hopefully doesn't cause another financial crisis or worse.

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That Infowars article is pretty poor in my opinion and shows that the author doesn't understand the current system in the US. It is completely wrong to say that there are no US notes about today, there are and they are hidden in plain sight. Take a look at a $10 FRN...

image.png.37b5555328f2e967f8ab303a0bddd261.png

You can see that it represents both a FRN (on the left) and a US Treasury note (on the right). Both are legal tender and the decision on which to use is entirely yours. Should you elect to use the FRN, you are obliged to file with the IRS and pay their usage fee (income tax). Should you demand redemption of the US note as lawful money (per 12USC411) you do not pay tax to the IRS and will actually reduce the national debt as the Fed has to 'buy' US notes from the US Government, thereby reversing some of the FRN debt. If large quantities of people went and opened lawful money back accounts and used them the Fed would die a quick death.

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Posted (edited)
10 hours ago, Archbob said:

Dude, its infowars, they don't understand anything. They are the proud people to put up theories like this one:

 

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Edited by bloodhound

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