Janet: Hi, I’m in charge of my family’s finances working on balancing my books… not looking good

Jerome: Yes, I remember you from last year. Can I help you now? I have access/control of a centralized ledger that might be able to “find” some money to lend you. What is your situation?

Janet: Well, I make $100,000 per year, but owe $4,800,000 and the interest on the debit is set to increase.

Jerome: Yikes. If I give you some cash to help you, what can you give me? Any collateral?

Janet: Not much in actually physical collateral, but how about a piece of paper that says: IOU $1,000,000 and will pay you back $1,040,000 in 2-5 years? Can we call it a “US-treasury bond/bill/note”?

Jerome: OK, but I am concerned that you’ll have a hard time paying me back down the road. What assurances can you give me? What’s your “note”backed by?

Janet: Hmmm… how about a “promise” that in the future I will be more mindful of what I spend and increase my productivity, ie work harder/smarter and get a raise?

Jerome: OK that works for me, but there is a rule that I have to keep a very small % of real money/assets in my vault compared to the amount I loan out and I’m at the limit. So, no-go on the money.

Janet: Hmmm. Actually I work with the team that makes the rules about “fractional reserve” requirements for you, so I can make a few calls and we should be good to go…..

…..two years later….

Janet: Hey Jerome… guess what? I’m in a bit of a situation ……

US finances in a nutshell:

✅total debt and liabilities of $219T ✅$4.6T of expected tax revenue

✅equivalent to a person with $100,000 salary and debt of $4.8 million

…..And get this, they're about to take out a new credit card = raise the dept ceiling

And people think that Bitcoin is the ponzi. Might want to have some just in case….