All debt, whether public or private that is not paid off by the same generation is a scam on the next generation and beyond, a very unfair one. For this reason, debts shouldn't be allowed to exist for more than thirty years, and should not be allowed to be paid off by a new debt. So what should happen if a debt is not paid off in this time? It should be subject to foreclosure and/or bankruptcy proceedings, irrespective of whether the borrowers want to continue with the debt.
That's nonsense; it is obsolete government propaganda. Just the type of money that you are shamelessly used to is debt based. Money rooted in precious metals, also some cryptocurrencies, is in no way debt based. And yes I can spend them.
It's legally valid, but it carries with it all the problems of long term debt, which is the point. There is a reason why one can't pay off a credit card with another credit card.
I haven't contributed, but this is what first drew me to the page: the 1040 instructions [0] on pg.82 has "How Do You Make a Gift To Reduce Debt Held By the Public?" and I was intrigued enough to read the details, which contain the link in the OP.
