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Why burn xrp? Pay off US debt with xrp instead.


quan
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On 8/8/2019 at 11:44 PM, quan said:

Here is an idea, 

Instead of burning xrp, I suggest Ripple to write an option contract to gift Fed around 30 billion xrp as a exchange of Fed’s commitment to provide the public liquidity of xrp, for all the business and banks to use. 

The current US debt is about 22 trillion,

22,000,000,000,000 / 30,000,000,000

= 733

If Fed sells the gifted xrp in the average price of $733/xrp, US can pay off the debt completely and protect the dollar from collapsing. And xrp can strengthen its use case as a dollar’s life saver. 

This is a very good chance for the Fed to solve the global liquidity problem in the most democratic way possible.  

This scenario is win win for everyone, it benefits the government, private business, and the citizens of the world. 

This kind of chance doesn’t come by often. Digital asset can literally save the country if they adopt the asset in the right way.  

What do you think of the suggestion Ripple? 

 

That's not how money works.

Take your own balance sheet as an example--if the bank comes to you and says its closing your savings account and moving those deposits to your checking account, then you need to find somewhere else to stick those deposits and earn a return. Perhaps because interest rates are so low people no longer differentiate between savings and cash. But if you convert all bonds to cash, those people have to find something else, something riskier, to buy with that cash. 

The public debt is not a problem, unless people's savings are a problem.

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On 8/9/2019 at 1:43 AM, Montoya said:

Why not sell them for $73,000 per XRP??!!!! Even Better! Then we could not only pay off the national debt, pay off the entirety of Argentinian guy's student loans (which is totally fair as I assume someone put a gun to his head and forced him to take them on), but we could also give a new lambo to every needy teenager in America!!! Oh, and of course the plastic island....that will be turned into a resort destination known as Plastopia. After all, we have to do something with all our new found wealth. 

 

when xrp would be 73k, then this wll become my home.

scale_735_357be.jpg

But with the current value, i only can affort this.

b6f1c9ab6be713c33902bc93616e8e39.jpg

Edited by retep
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On 8/8/2019 at 9:02 PM, AlejoMoreno said:

Seriously? Oh well, I stated my opinion, you stayed yours. I guess we’re both jack asses in each other eyes. I see we’ve come down two different paths so I’m sure we won’t see eye to eye.

The US debt is already massively high due to empathetic legislative actions such as you suggested , in addition to funding our world police operation. 

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  • 9 months later...

It will be better to sell them. You know now everyone is leaving with ta debt. I don't really know people who have never borrowed money from the bank. We are living in hard times and it is something normal. Ok, even the country has debts so it's fine lol. I don't' know what about you but I have a bad experience with debts. I even was called and received different letters from the debt collectors lol. I was working in 3 places and didn't have sufficient time to go to the bank and pay my debt. Online I couldn't do this. So it was a little hard. But I found a site about debt collection agency and text there my problem and they gave me some tips about how to solve my problem. It was very helpful 'cause I obtained some more days for my debt payment. So I guess our country have many solutions to pass over this but they don't want to use them.

Edited by mrrACTIB
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