In the National Interest - what a joke!

[BradK]

So, Americans are waking up to the $1.6 trillion budget deficit, facing cuts in programs and closing loopholes in tax schemes that disproportionately benefit the rich. If the latter happens I will give up my leftie in a glass jar...

http://www.news.com.au/business/mar...t-to-cut-deficit/story-e6frfm30-1226086284938

Isn't it time we called a spade a spade? If trickle down was going to work, isn't NOW the time? Why is it in the name of the national interest that American taxpayers are forced to bail out banks, but the banks now seem to be doing all they can to hamper the American economy?

There IS another whooper coming. Bigger and better than the last one - and the consequences will be wider and deeper and longer. And we will all shrug, pat our pockets for our last waded up fiver, and wonder why the f*&# we didn't give any meaningful reform last time.

Im beginning to think... Marx was right?

Brad

 

[Aussiejeff]

Re: In the National Interest - what a joke

So, Americans are waking up to the $1.6 trillion budget deficit, facing cuts in programs and closing loopholes in tax schemes that disproportionately benefit the rich. If the latter happens I will give up my leftie in a glass jar...

http://www.news.com.au/business/mar...t-to-cut-deficit/story-e6frfm30-1226086284938

Isn't it time we called a spade a spade? If trickle down was going to work, isn't NOW the time? Why is it in the name of the national interest that American taxpayers are forced to bail out banks, but the banks now seem to be doing all they can to hamper the American economy?

There IS another whooper coming. Bigger and better than the last one - and the consequences will be wider and deeper and longer. And we will all shrug, pat our pockets for our last waded up fiver, and wonder why the f*&# we didn't give any meaningful reform last time.

Im beginning to think... Marx was right?

Brad

CPC is your future, grasshopper.....

 

[trainspotter]

Re: In the National Interest - what a joke

There is a solution to central bankers, but it’s rather drastic.

http://www.guardian.co.uk/world/2010/mar/18/north-korean-executed-currency-reform
Pak Nam-gi killed by firing squad after currency reform worsened markets

The chief of the Central Bank in North Korea botched their reform…..and was executed by firing squad.

In the US, the failed and corrupt bankers go on speaking tours.

http://www.msnbc.msn.com/id/10878253/ns/business-financial_times/
Fed chief could command six-figure fee for speaking engagements

Former Chairman of the Federal Reserve Alan Greenspan “….could charge as much as $150,000 for a single U.S. appearance…”

I read somewhere it is now mathmatically impossible for USA to get out of debt. There is more debt than there is actual "paper money" to pay it back in circulation. Afterall it can't print more money as the US Government does not own the Federal Reserve.

 

[Starcraftmazter]

Re: In the National Interest - what a joke

The entire "federal" reserve banking system needs to go.
http://www.youtube.com/watch?v=Dc3sKwwAaCU&feature=related


Unfortunately the last president that tried to do something about it was JFK, and that did not turn out so well


With USA though, I am always disappointed at the level of corruption. They are willing to cut a few hundred million dollars from all sorts of environmental, health and education programs - which will not even put a dent in the debt, but never willing to even touch the many hundreds of billions in military spending.

If USA were to end all involvement in the middle east and take a modest defense budget cut, it could probably put it's budget into surplus - and that's with the high unemployment rate.

Just so disappointing.

 

[Glen48]

Re: In the National Interest - what a joke

If USA paid back 750 billion a month it would take 20 yrs as long as they didn't borrow one more cent.
Not they have been backing student loans which could b bigger than sub prime and never be repaid.
Typical Government logic.

 

[tothemax6]

Re: In the National Interest - what a joke

I read somewhere it is now mathmatically impossible for USA to get out of debt. There is more debt than there is actual "paper money" to pay it back in circulation. Afterall it can't print more money as the US Government does not own the Federal Reserve.

The US government appoints the directors of the Fed, it appoints its chairman, it receives the profits made by the Fed, and it grants the Fed monopoly of the money supply. Sounds like ownership to me, regardless of the statutory obligation of various 'private' banks to hold non-tradeable 'shares' in the Fed.
The Fed can, and will, print whatever amount of money is required to monetize the US government debt.

 

[trainspotter]

Re: In the National Interest - what a joke

The US government appoints the directors of the Fed, it appoints its chairman, it receives the profits made by the Fed, and it grants the Fed monopoly of the money supply. Sounds like ownership to me, regardless of the statutory obligation of various 'private' banks to hold non-tradeable 'shares' in the Fed.
The Fed can, and will, print whatever amount of money is required to monetize the US government debt.

Looks like a duck, walks like a duck BUT it aint a duck !

* "The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation’s central banking system, are organized much like private corporations – possibly leading to some confusion about "ownership." For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year."

* "[The Federal Reserve] is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms."

* "The Federal Reserve’s income is derived primarily from the interest on U.S. government securities that it has acquired through open market operations. . . . After paying its expenses, the Federal Reserve turns the rest of its earnings over to the U.S. Treasury."5

http://www.globalresearch.ca/index.php?context=va&aid=10489

Quack Quack !

 

[DB008]

Electronic Master and l have been posting this in the conspiracy thread for over 8 months now. We are.....f**ked, economically wise. GFC Mk2 is on the way. If China defaults, God help us.

 

[poverty]

If China defaults, God help us.

Defaults on WHAT?

 

[todster]

hedge with cash converter shares

 

[tothemax6]

Re: In the National Interest - what a joke

Looks like a duck, walks like a duck BUT it aint a duck

OK sure. Then I ask you: if there was a car which you were told you 'owned', which you got to drive once a month, but which was given its fuel from the government, and the government dictated where you could drive it, and which was controlled by government appointed officials, and which the government got to enjoy the most use of...

Like hell that's 'your' car.

The Fed is a government agency and you know it. There are plenty of government owned companies and monopolies that pay private companies and individuals money, that doesn't make them 'privately owned' any more than buying a share in Telstra means you 'now own Telstra'.

 

[trainspotter]

Re: In the National Interest - what a joke

OK sure. Then I ask you: if there was a car which you were told you 'owned', which you got to drive once a month, but which was given its fuel from the government, and the government dictated where you could drive it, and which was controlled by government appointed officials, and which the government got to enjoy the most use of...

Like hell that's 'your' car.

The Fed is a government agency and you know it. There are plenty of government owned companies and monopolies that pay private companies and individuals money, that doesn't make them 'privately owned' any more than buying a share in Telstra means you 'now own Telstra'.

OK sure . Then I ask you: If I buy a house with a mortgage and according to the green title it is my name on the piece of paper which I "own" and the bank says "NO" ...... we own it as you have the debt instrument according to them.

Like hell it's "your" house. Or is it?

Ok ..... analogies aside then. BTW ... NOT controlled by governemnt appointed officials.

"Below are excerpts from a court case proving the Federal Reserve system's status. As you will see, the court ruled that the Federal Reserve Banks are "independent, privately owned and locally controlled corporations", and there is not sufficient "federal government control over 'detailed physical performance' and 'day to day operation'" of the Federal Reserve Bank for it to be considered a federal agency: "

http://www.globalresearch.ca/index.php?context=va&aid=8518

 

[tothemax6]

Defaults on WHAT?

+1 `

 

[bandicoot76]

Re: In the National Interest - what a joke

OK sure . Then I ask you: If I buy a house with a mortgage and according to the green title it is my name on the piece of paper which I "own" and the bank says "NO" ...... we own it as you have the debt instrument according to them.

Like hell it's "your" house. Or is it?

Ok ..... analogies aside then. BTW ... NOT controlled by governemnt appointed officials.

"Below are excerpts from a court case proving the Federal Reserve system's status. As you will see, the court ruled that the Federal Reserve Banks are "independent, privately owned and locally controlled corporations", and there is not sufficient "federal government control over 'detailed physical performance' and 'day to day operation'" of the Federal Reserve Bank for it to be considered a federal agency: "

http://www.globalresearch.ca/index.php?context=va&aid=8518

...and it has NEVER been audited..... EVER! thomas jefferson fought the rothschild's minions tooth & nail to stop them establishing a 'federal reserve' type banking system as he considered it 'a bigger threat to freedom than a standing army'... he'd be turning in his grave at the mess his nemisis has made of not only the US but also the world!

 

[OzWaveGuy]

Re: In the National Interest - what a joke

...and it has NEVER been audited..... EVER! thomas jefferson fought the rothschild's minions tooth & nail to stop them establishing a 'federal reserve' type banking system as he considered it 'a bigger threat to freedom than a standing army'... he'd be turning in his grave at the mess his nemisis has made of not only the US but also the world!

So true. Ron Paul has been trying to get a bill passed that allows auditing of the FED - unlikely to ever happen.

Quite simply, the debts can no longer be repaid since the interest is or will soon be outstripping earning capacity of the American people. Barnaby was spot on by saying America could default, but the fractional reserve system is working as designed - bailouts is the name of the game and transferring liability to the people creates slaves for life.

 

[DB008]

[video]http://www.youtube.com/user/ChrisMartensondotcom#p/c/7E8A774DA8435EEB[/video]

 

[DB008]

Electronic Master and l have been posting this in the conspiracy thread for over 8 months now. We are.....f**ked, economically wise. GFC Mk2 is on the way. If US defaults, God help us.

Sorry, meant to say that once the US starts to flatter, and then it catches onto China, Oz won't be looking too healthy...

 

[DB008]

Under the Rug, Behind the Couch: How Much Debt Is China Hiding?
By Adam Wolfe
Jun 30, 2011 10:57:00 AM | Last Updated

http://www.roubini.com/analysis/158718.php?utm_source=contactology&utm_medium=email&utm_campaign=RGE%20Daily%20Top%205%2C%20Tuesday%2C%20July%205%2C%202011

Is Beijing Ready to Clean Up China’s Local Government Debt? We estimate that China’s local governments had debts of about RMB15 trillion (US$2.3 trillion) at the end of 2010, much more than we previously assumed, though with a longer average maturity. We expect local governments to increase their debts further in 2011 as they struggle to meet Beijing’s target of building 10 million new low-income housing units. We maintain our expected default rate of 30% but revise our expectations for the resulting nonperforming loans (NPLs) sharply upward as other off-balance-sheet revenue[...]

 

[Smurf1976]

Re: In the National Interest - what a joke

There are plenty of government owned companies and monopolies that pay private companies and individuals money, that doesn't make them 'privately owned' any more than buying a share in Telstra means you 'now own Telstra'.

Telstra itself is perhaps the best example. I mean, it's a "private" company as such but government does have rather a lot of control over it. It's private, but operating within pretty narrow boundaries set by government.

 

[Julia]

Sorry, meant to say that once the US starts to flatter, and then it catches onto China, Oz won't be looking too healthy...

Um, Dannyboy, can you explain what the US does when it '
starts to flatter'?