posted on Mar, 15 2012 @ 07:17 PM
All of the US is put up for collateral this started in 1779 then again in 1812 then again in 1864 or there about then again 1913 or there about the
paper debt started with our default after the revolutionary war. We were a republic first. then England took our paper for the debt then we became a
democracy.The civil war was really fought over the South not wanting to take the debt on. Its more complex than this but this is a fast basic
description.