Reply #17: The far bigger Ponzi scheme is the government's.

[Psephos]

No one in Washington is doing anything about deficits except to worsen them. This will not change.

The external debt (the "National Debt") is contractually obligated in fixed numbers of dollars, not a fixed amount of value. If the dollars become inflated without the government doing anything to control it, or if they are artificially inflated directly by the government (essentially, LIHOP or MIHOP), then the debt begins to evaporate.

Of course, this brings extraordinary problems of its own.