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Thread: Lost in the Ridiculous Debt Ceiling Debate

  1. #1
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    Default Lost in the Ridiculous Debt Ceiling Debate

    Lost in the Debt Ceiling Debate
    (Why increase debt, when it can all be retired, instantly!)

    Silver Stock Report
    by Jason Hommel, July 28th, 2011


    "--The borrower is the servant to the lender." Proverbs 22:7

    There is no need for the government to borrow more money to be able to make payments on old debt.

    The US Treasury does not need to borrow from the Federal Reserve. The US government does not need to "serve" the Federal Reserve.

    The US Treasury can be authorized by Congress to print US Treasury notes (money) directly, like they used to do, and stop issuing Federal Reserve Notes.

    In fact, all of the US debt can be retired entirely, all of it could be paid back immediately, merely by issuing new US Treasury notes (money, bills, dollars).

    Oh, this was just suggested today, as I was writing this:

    3 ways Obama could bypass Congress
    By Jack M. Balkin, Special to CNN
    July 28, 2011 10:48 a.m. EDT:

    http://www.cnn.com/2011/OPINION/07/2...html?hpt=hp_c1

    " A little-known statute gives the secretary of the Treasury the authority to issue platinum coins in any denomination. So some commentators have suggested that the Treasury create two $1 trillion coins, deposit them in its account in the Federal Reserve and write checks on the proceeds."

    Or, as I note, 14 of them!

    The sun would not stand still, buildings would not collapse into their footprints, life would go on, inflation would continue, default would be averted, and the $14 trillion or so of total US government debt could be gone. GONE!

    And the debt should be gone.

    A government is instantly subverted and overthrown the instant it goes into debt. Why?

    Because a government in debt serves the lender, rather than serving the people.

    A government in debt has a conflict of interest!

    Anyone loaning money to the government should actually be guilty of treason, for having successfully overthrown and subverted the national interest of serving the people, first.

    I sincerely believe that a debt cap is not what the nation needs, although I believe it would be better than raising the debt ceiling as they always do.

    The nation needs a spending cap, and much more, it needs dramatic spending reductions.

    Every bit of money that the US spends is not only wasted, but actually harms the economy in multiple ways far more insidiously than most writers recognize and can articulate.

    This morning a democrat in the house on C-Span was saying that the government needs to "invest" in schools, health care, infrastructure, and jobs, rather than "cut, cap, and balance".

    All of that would be a mistake.

    Government money spent on schools is worse than if the government spent nothing at all. Government teachers have an inherent conflict of interest; they will rarely teach against the concept of government, like the Bible does, because they get their pay from the government. Government schools are propaganda for more government. That's bad. Government schools are a monopoly of government schools, which mean there are little to no real incentives to teach students any better. So, the kids get less knowledge, or inaccurate knowledge, if any at all. Both are bad.

    The solution would be a government that prosecuted any other governmental entity, Federal, State, County, or City, that spent any money at all on education, banning it in the nature of violating the "establishment of religion (of government)" clause of the first amendment! The solution is free market based educational solutions; teachers that earn their money directly from the parents who will naturally choose the best for their children.

    The democrat said Government should "invest" money in health care? Even worse than nothing at all! The problem today is the government granted monopoly on health care supporting the druggers and cutters, while making illegal herbal solutions, or making illegal natural whole foods like unpasteurized unhomogenized whole milk or health claims for walnuts. The solution is ending all funding for the FDA, and opening up the "modern medical monopoly" to real free market competition from people who offer real healing solutions.

    The democrat said government should "invest" in jobs created by government spending on more schools or hospitals? Even worse than nothing spent at all. All such jobs would be temporary, another artificial boom, and lead to misallocations of wealth, taken from people who actually created wealth from real jobs, and given to over bloated projects that only make the nation worse off. The solution is to let those people who produce the jobs, keep the money, so they can expand their businesses, which is the only way that real jobs are ever actually created!

    The claims that the nation needs to raise the debt ceiling, or else "the roof will fall in" and other such calamities is totally false. The debt is a joke. The debt is nothing, and can be paid off tomorrow with fresh money freshly printed. After all, it's not like we are on a gold standard here. (Hint, buy gold, or better yet, silver!)

    The real problem is the out of control government spending. Anything that can reduce government spending will be a boon to the real economy.

    Tea Party republicans need to hold strong, and vote against any debt increase.

    =====

    I strongly advise you to take possession of real gold and silver, at anywhere near today's prices, while you still can. The fundamentals of silver indicate rising prices for decades to come, and a major price spike can happen at any time.

  2. #2
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    Default

    Obviously after its default, America will need to issue a "fresh start" currency to go with its "fresh start" balance sheet and "non-fresh start" group of thugs robbing this country's middle class blind de novo. Below we present the running contender for such "new currency" courtesy of William Banzai.


  3. #3
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    Default Rabbit holes

    This is all so stupid. Our government could be without any debt at all and let me tell you why. There are so many "rabbit holes" that money is funneled into that it's ridiculous. These clowns have pulled this all off for so long that they figured they could just do it forever. They have pissed away money with a complete lack of regard for the people they are milking it out of... us peasants. Yes we are here to appease their lavishness, provide them with private jets to get to meetings with so they can dream up new ways to tax the f*ck out of the general public. Do you know why? It's so they can continue to get away with all the things they have gotten away with!

    As an individual, I have to operate within appropriate legal realms and operate within finite financial means. I can't just go crazy and buy whatever I want on a whim, piss away money, hand out huge contracts to my friends and have everyone else rather than me pay for it all. I can't heist off everyone's money and then drop sh*tloads of it off into various "pet projects" in which I gain more power and wealth from, leaving the people I heisted it from with nothing. I can't then claim that the people that gave me the money didn't give me enough so I need more... that I need them to "go deep" because I need them to adjust their staple diet to ramen noodles for a while because it's really important for me to have a luxury yacht with 14kt gold toilets... Okay, you get the idea.

    I know first hand of certain little indescretions on the part of these scumbags; Some of the little things they have done over the years... down the rabbit hole. The American public is oblivious to even the bold and apparent that is common knowledge, so what does it matter? They have been rendered shock proof with regard to politicians antics and are more concerned with what dress Jennifer Lopez wore this week and if it was fashionable or not. The American public has been "neutered" to be not only stupid but powerless to stop them. Those in power like it like that because this has made them wealthy beyond belief and nothing can stop them. Appointees can't be voted out and the choices of what you have to vote for are limited to... you guessed it! The most wealthy and powerful who have the financial backing to run for office. Wealth and power does not neccessarily indicate intelligence and ability. Wealth and power does not neccessarily mean caring benevolent people either... most of the truly wealthy people I know of got there by being ruthless and conniving with a complete lack of regard for anyone, preoccupied with only their own interests and personal gain.

    When that congressional committee (and friends) orchestrate and award a huge contract to a defense contractor for ten times what it is worth are they doing it because they care about the American public or are they doing it because they are getting a juicy kickback out of the deal, getting a nice boost to their powerbase and they don't give a flying f*ck because it's not THEIR cash they are pissing away ANYWAY!


    OOPS! I almost forgot... What he said! Buy gold and silver! It has the least interference from these asswipes and much farther out of their reach and direct control than currency.
    Last edited by Tarzan; July 29th, 2011 at 12:56 AM.

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    Forsooth, Brother Tarzan! Wake up, America!

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    Barack Obama has reached an agreement with Republican and Democratic congressional leaders aimed at ending the US debt deadlock that threatened to throw the US and world economy into chaos.Sunday evening lawmakers from both sides finally signed an agreement to increase the debt ceiling and prevent an unprecedented default on the nation's obligations. The war was long and hard fought, and much remains yet to be sorted out after everything has calmed down. Neither party is allegedly pleased with the agreement. The country can acquire more installment loans still though. The White House hinted that the deadline could be extended for a few days to allow Congress to get legislation through.

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    Quote Originally Posted by stevenwhite View Post
    Barack Obama has reached an agreement with Republican and Democratic congressional leaders aimed at ending the US debt deadlock that threatened to throw the US and world economy into chaos.
    It was all a sham.

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