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Eliminate federal debt interest payments by issuing a new competing national currency?

Created by F.L. on January 20, 2013

$220 billion a year is paid in interest on the national debt. We issue bonds and pay interest for the privilege. Why are we not issuing a competing currency minted by the federal government that it can use to pay it's bills and that we can pay our taxes with? A new currency that does not obligate the repayment with interest.

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