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this post was submitted on 07 Feb 2024
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InsanePeopleFacebook
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I'll try to explain this as quickly and correctly as I can
Sov cits believe their name does not represent themselves, but actually a stock/ commodity that belongs to the US government
They believe this stock to be valued at GDP/population
These "coupons" are instructions to whatever entity they don't want to pay, informing said entity that they should request the funds from aforementioned stock under the Sov Cit's name.
I don't think these people think they're trying to scam anyone or get away with "not paying". They genuinely think that every citizen has an equal share of the US's GDP and can just use it like cash.
Isn't this country like severely in a massive amount of fucking debt??
Yes, but a country being in debt does not translate to a negative GDP
Ahhh, I see. I know as much about economics as these idiots know about, well anything. Thanks!
No worries.
In very simple terms (explained by someone who also doesn't have an amazing grasp on macroeconomics), a country's GDP is the value of everything they produced for a given time period. So a country can owe a shit ton of money to other countries and will pretty much always have a positive GDP. When people say there was a negative GDP they probably mean it went down from last year.
Which means these people's "logic" essentially grants them infinite money. The US economy could be in shambles, GDP decreasing every year, but they would somehow always be entitled to tens of thousands of dollars.