Point of order:

any who handle obligations of their debts by using FRN "fiat money" as "payment", technically never payoff their debts, at best they merely discharge their debts. In the parallel word of terminology created out of common words by laws and legalise, there is a definite difference between discharging debt versus paying debt. This, the widespread misconception of how FRNs (and the Fed itself) works, and the widespread use of FRNs, collectively are the primary reason why we have a particular debt that never gets discharged, it only keeps getting passed on down the line to be paid in the future (IE> by our children and their children, as people often remark, like Thorn) and bigger all the while - the National Debt. FRN fiat money itself represents and embodies debt, by definition it is substanceless, not of intrinsic value and therefor cannot be used/exchanged for one to outright acquire items of substance. Sure, you can use FRNs to acquire and consume a loaf of bread and quart of milk, and you may believe you actually paid for them, but in reality an additional debt was created at the time of the purchase, the use of the FRNs in the exchange assures this. Buyers tender FRNs, merchants accept them, and the ruse continues. In the u.S. and many other countries, use of real money as legal tender, like gold and silver, has effectively been illegal for many decades (thank you fdr, nixon, et. al). Many people are not aware that the simple act of using FRNs as currency is in actuality an act of propigating and or exchanging debt from one hand to another.

You may now return to the debate at hand.