ExtraSmooth
ExtraSmooth t1_j29mx9o wrote
Reply to eli5: Why couldn't a country in debt mint a coin of immense value and use it to pay off the debt? by Derikoopa
There isn't any value in "paying off debt" at a national level. The debt is scheduled in the form of bonds, which are treated as investment vehicles. Debt is "payed off" when holders cash out their bonds, which they can do voluntarily at any time (with some limitations/penalties for early liquidation) and which the government (US anyway) never fails to cover. If the government forcibly bought back everyone's bonds prematurely, it would destroy the value and trust in bonds as an investment, destabilizing the global economy in several different ways.
The government is not a business or a household, so the imperative to operate at a net surplus just isn't there. The extension of government debt is a sign of continued expectations of growth and political stability. Trying to remove all the debt from the system is like trying to collect all the rainwater in a region and store it in barrels instead of letting it cycle through the earth and natural bodies of water. It might seem like "saving for a rainy day" but really you're preventing a resource from flowing through the system where it can do the most good.
ExtraSmooth t1_j24dq4b wrote
ExtraSmooth t1_j24ap4e wrote
Reply to comment by croninsiglos in TIL that the Hawaii’s Maunakea Volcano, the world’s tallest mountain, (10,210 m or 33,500 ft from base to peak) was first ascended successfully over three days in February 2021. Over half of it is underwater. by Fantastic_Ad1613
I believe the record in that case is in Venezuela
ExtraSmooth t1_j24agch wrote
Reply to comment by SeattlePassedTheBall in TIL that the Hawaii’s Maunakea Volcano, the world’s tallest mountain, (10,210 m or 33,500 ft from base to peak) was first ascended successfully over three days in February 2021. Over half of it is underwater. by Fantastic_Ad1613
I thought it was kilimanjaro
ExtraSmooth t1_ja58pab wrote
Reply to comment by cnash in ELI5: Why are native Australians called Aboriginals when in English the prefix "a" usually means "not"- ex Abnormal, atypical, etc? by Invisible_Swan
What does abnormal mean then?