I’ve once heard that the USA owns most of its debt to itself, how is that possible? How can you owe debt to yourself?

Question

I’ve once heard that the USA owns most of its debt to itself, how is that possible? How can you owe debt to yourself?

In: 252

Answer 1

Debt is a little misleading when it comes to national fiat currency. America’s constant economic crises are a result of constantly exploiting the benefits of a fiat currency and blatantly ignoring the consequences. If this country was ever actually forced to fix itself, the country would quickly cease to exist as economic hardships caused the union to break and try to grab each others’ resources while outside influences manipulated the outcome. Modern civilization would come to a rather quick halt.