1. Stocks flat after recent runs. Metals flat to up.
    Dismiss Notice
  2. Good Thur Am. Gold is up slightly, +.5 to 1264, while Silver is up 2 to 1739. Crude is down 44 to 4918. The USD is down 5 to 9887.
    Dismiss Notice
  3. Week of 4/22/2017 Closing prices & Chg Over Last Wk---- Gold $1289.10-- UP 0.60 Silver $17.85-- down 66 Oil $49.62-- down 3.80 USD $99.88 -- down 58

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:
    5,442
    Likes Received:
    4,277
    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:
    3,220
    Likes Received:
    3,013
    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