i don’t think we have to repay. we just have to service. we, like most enterprises, have a perpetual capital structure, people hold our paper. but to undergird the international value of our paper, it should be credibly redeemable for goods and services. 1/

and we shouldn’t be selling endlessly more, unless that more is financing assets that produce tradable goods and services of value greater than the value we mean to support of the paper we issue. /fin