1. Same story, different day...........year ie more of the same fiat floods the world
    Dismiss Notice
  2. There are no markets
    Dismiss Notice
  3. Week of 6/24/2017 Closing prices & Chg Over Last Wk---- Gold $1256.40 Silver $16.64 Oil $43.01 USD $96.94
  4. "Spreading the ideas of freedom loving people on matters regarding high finance, politics, constructionist Constitution, and mental masturbation of all types"
    Dismiss Notice

Paying a debt vs. discharging it?

Discussion in 'Central Banking & Fed Reserve' started by Ragnarok, Aug 10, 2016.



  1. Ragnarok

    Ragnarok I'd rather be Midas Member

    Joined:
    Mar 31, 2010
    Messages:
    5,481
    Likes Received:
    4,324
    Trophy Points:
    113
    Some random questions rattling around in my head. From my limited understanding a debt cannot actually be paid with federal reserve notes of debt, however it can be discharged (passed to another) with them?

    Is there actually a practical difference between paying a debt and discharging it? Why then use two different terms? Does it matter? Why/why not?

    Does that mean that everythjng one "buys" with federal reserve debt notes actually belongs to the note owner, the Fed, until actual payment is made?

    R.
     
  2. Joe King

    Joe King Gold Member Gold Chaser

    Joined:
    Mar 31, 2010
    Messages:
    4,104
    Likes Received:
    3,904
    Trophy Points:
    113
    Location:
    Instant Gratification Land
    Making a "purchase" is not the same as paying or discharging a debt.
    Debts are to creditors. When groceries are purchased at the Piggly Wiggly, it is not a debt that is being paid.
    If you "pay" with a CC, you are incurring a debt with the card issuer, not the store.
     

Share This Page