[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]

![curtis_yarvin Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1674746495793283073.png) Curtis Yarvin [@curtis_yarvin](/creator/twitter/curtis_yarvin) on x 57K followers
Created: 2025-07-24 17:23:50 UTC

Debt is real. But state debt in a fiat currency regime isn’t debt. It’s equity.

In real life, financial calculations treat Treasuries as “risk-free.” You know what isn’t risk-free? Debt. You know what is? Equity.

Restricted equity—with a maturity date. But not debt


XXXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1948433956426448966/c:line.svg)

**Related Topics**
[budgeting](/topic/budgeting)
[currency](/topic/currency)
[fiat](/topic/fiat)
[debt](/topic/debt)

[Post Link](https://x.com/curtis_yarvin/status/1948433956426448966)