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The United States is not facing bankruptcy, it is bankrupt.

 
Anonymous Coward
User ID: 27711841
United States
11/30/2012 09:12 AM
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Re: The United States is not facing bankruptcy, it is bankrupt.
This is a beautiful post, full of truth from beginning to end.

I would suggest one correction right at the beginning, so that shills cannot seize on this point to discredit the whole thing.

The fractional reserve relending multiplier (and Dodd-Frank mandated capital rules) are not necessarily equal to the repayment multiplier on a mortgage over its life. It's sort of an accident if they are close; if mortgages were 5 years rather than 30, they would not be close.

And interest rates aren't something that banks control, at least not now. They are bigger than just banks. If YOU don't go out and borrow money, you are depressing the interest rate. You have every right to do so. And so now all the Fed can do is to have a zero-interest rate policy. There will always be interest, because it's the option value of having money sooner: you can save it and have it later, or you can spend it now. Options have value. This is an economic fact that all the central banks could not change even if they wanted to. Even Islamic banks effectively charge interest, even though they pretend they don't (interest is illegal under Sharia law) and obscure it just enough that some mullahs (probably well compensated) issue the fatwa that it's not really interest.

So the scavenger hunt is required, not mainly because the bank sets it up, but because of that fundamental economic force. And given that this scavenger hunt will be going on anyway, banks go along for the ride by mandating that you use their currency, and via multiple relending they make it a system that can expand or contract to fit the economy, thus keeping themselves entrenched as the bankers and their money entrenched.
 Quoting: Anonymous Coward 28008747


Thanks for the compliment, but you seem to have an even better grasp.

I agree the hunt will go on. it is what us humans need to do to eat and procreate. A dignified life. The core of my thesis, as you alluded to with sharia, is that any shred of benevolent intent in this system is that the true ultra violence is purportedly administered by a government/religion that is held to ethical standards, rule of law, Stare Decisis. Not the banks.

But can anyone look at the system of laws (especially tax, I am from the USA) and believe the ultra-violence will be administered correctly? Why is there a revolving door between wall street and D.C.? Meaning would it be impossible to put people in the government who were not career bankers? Does every national politician have to have roots in organized crime?
Carshy McCarsh

User ID: 1481556
Germany
11/30/2012 09:24 AM
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Re: The United States is not facing bankruptcy, it is bankrupt.
whatever-

if you voted for romney or obama- its your fault.

 Quoting: Anonymous Coward 27851254


Fucking retard.
If you voted for anyone other than Romney, this is your fault.
As thousands of us were screaming at the top of our lungs before the election "A vote for anyone other than Romney is a vote for Obama".

And you fucking did it anyway, you POS.

granny
Tell me what this tastes like...
Anonymous Coward
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11/30/2012 09:24 AM
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Re: The United States is not facing bankruptcy, it is bankrupt.
BEST factual statement I've seen on GLP in months !

Another one should be, " We are NOT slipping into a Depression; we are already THERE !"
Anonymous Coward
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United Kingdom
11/30/2012 09:43 AM
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Re: The United States is not facing bankruptcy, it is bankrupt.
As long as America goes down the pit, that’s all that counts.
5a
Anonymous Coward
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11/30/2012 09:49 AM
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Re: The United States is not facing bankruptcy, it is bankrupt.
Everyone just needs to quit their jobs and quit paying for anything but food and utilities. What are the banks gonna do when 90% of people stop paying? Wither away and die! As it's our stuff that we purchased with the money WE created for THEM!!! Boom problem solved and we all live happily ever after. peace
Anonymous Coward
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11/30/2012 09:59 AM
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Re: The United States is not facing bankruptcy, it is bankrupt.
Anything that is happening with regard to the US being bankrupt was brought on purposefully by those who wish to continue having power over all of humanity! Just watch a report that says the US is going to do away with the one dollar bill. Cashless buying and selling is rapidly going to fill the void! What global corporations stand ready to provide the "solutions"? What global organization controls the development of all electronics and electrical technologies! Bingo!
Anonymous Coward
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11/30/2012 09:59 AM
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Re: The United States is not facing bankruptcy, it is bankrupt.
whatever-

if you voted for romney or obama- its your fault.

 Quoting: Anonymous Coward 27851254


Fucking retard.
If you voted for anyone other than Romney, this is your fault.
As thousands of us were screaming at the top of our lungs before the election "A vote for anyone other than Romney is a vote for Obama".

And you fucking did it anyway, you POS.

granny
 Quoting: Carshy McCarsh


Respectively i disagree sir, Romney wanted to substantially increase defense spending which would only make our fiscal problem larger(and was the silver lining for why ron paul didnt endorse him).

Not only that but he is an establishement republican. If you think our monetary policy is shit like i do you can point the finger at bush and obama the two people who elected ben bernanke and if you think romney wouldnt do the same your nutz.
Anonymous Coward
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United States
11/30/2012 10:01 AM
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Re: The United States is not facing bankruptcy, it is bankrupt.
Anything that is happening with regard to the US being bankrupt was brought on purposefully by those who wish to continue having power over all of humanity! Just watch a report that says the US is going to do away with the one dollar bill. Cashless buying and selling is rapidly going to fill the void! What global corporations stand ready to provide the "solutions"? What global organization controls the development of all electronics and electrical technologies! Bingo!
 Quoting: Anonymous Coward 28744097


Should be a question mark at the end of the last sentence. My mistake.
Burt Gummer

User ID: 7702124
United States
11/30/2012 10:02 AM

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Re: The United States is not facing bankruptcy, it is bankrupt.
whatever-

if you voted for romney or obama- its your fault.

 Quoting: Anonymous Coward 27851254


Fucking retard.
If you voted for anyone other than Romney, this is your fault.
As thousands of us were screaming at the top of our lungs before the election "A vote for anyone other than Romney is a vote for Obama".

And you fucking did it anyway, you POS.

granny
 Quoting: Carshy McCarsh


Respectively i disagree sir, Romney wanted to substantially increase defense spending which would only make our fiscal problem larger(and was the silver lining for why ron paul didnt endorse him).

Not only that but he is an establishement republican. If you think our monetary policy is shit like i do you can point the finger at bush and obama the two people who elected ben bernanke and if you think romney wouldnt do the same your nutz.
 Quoting: Anonymous Coward 14625665


Romney would have drove a stake thru the heart of ObamaCare and stopped the UBER LEFTY Socialist movement.

THAT ALONE would have been enough and make him worthwhile.....except of course to SHEEP like you.


So NOW you are going to get what you voted for.

hopechg

Last Edited by Useless Cookie Eater on 11/30/2012 10:03 AM
Future Viewer

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11/30/2012 10:03 AM
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Re: The United States is not facing bankruptcy, it is bankrupt.
As of today, the nation's true indebtedness (promises that have been made for spending obligations, less all the taxes the Treasury expects to collect) exceeds $222,000 Billion. The indebtedness to Gross Domestic Product ($16,100 Billion) is a staggering 13.8 to 1. The United States is not facing bankruptcy, it is bankrupt.

Yet there is no sense of urgency or desire on the part of the governing class to level with the American people. This nation is living on the residue of the economic growth begun in the 1950's and accelerated in the 1980's. That tidal wave of prosperity has ebbed. The United States has entered into a death spiral of unrestrained spending, excessive taxation, printing near worthless money, and stagnant economic activity. Rather than be straightforward with the populace, the governing class is content to paper over the problem by the usual shell games of phony long-term spending cuts, more borrowing, and prevarications about the efficacy of raising taxes on "the rich."

The true nature of the GOP establishment's motivation has been exposed by their reaction to the Tea Party movement. This grassroots rebellion was the first manifestation of the awareness by a large portion of the American public of the nation's problems and ultimate consequences. Despite the overwhelming success of the Tea Party working within the Republican Party in the 2010 mid-term elections, nearly all of the Republican elites downplayed their success and fell-in with the mainstream media and the Democrats in their well-worn and gratuitous aspersions against these concerned and patriotic Americans. The Tea Party movement poses a threat to not only the accumulated power of the governing class but their livelihoods, thus the concerted effort to marginalize them by any vile or preposterous means possible.

The United States finds itself in a circumstance once thought unthinkable. An ill-educated and near morally bankrupt society increasingly made up of those dependent on government combined with a governing class whose primary interest is themselves. The nation cannot, therefore, make any meaningful course correction unless and until the people finally understand they have been lied to and conned by the current establishment. That will, in all likelihood, not occur until America faces imminent collapse and the citizenry turns on those who brought the nation to its knees.



Read more: [link to www.americanthinker.com]


this is the end paragraphs of a much longer article titled "The Governing Class and the Decline of America." there is nothing in this article that i can argue with. there many here who don't vote because they believe that both parties are the same.

i say there is a difference, but the difference is just personality and not outcome. i hate the people who come here and destroy this nation with their votes, but it occurs to me that those who vote for themselves do so at the behest of those who govern?
 Quoting: davvi


Started the Bankruptcy the day (Communist Infiltrator) FDR got voted into Office (1930).

Bring back the "Gadsden Flag", "Union Jack Flag" and "Confederate Flag"...

flag waver (replace that American Flag with the Gadsden Flag)

bumpbumpbumpbump
The Real "Kronos"..(1957 Movie)
Anonymous Coward
User ID: 23524705
United States
11/30/2012 10:16 AM
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Re: The United States is not facing bankruptcy, it is bankrupt.
This is completely untrue. The United States is far from bankrupt, on the contrary we are the wealthiest nation on the planet and the evidence is all around us.

We have enough natural resources in the rocky mountains to rebuild an entire new industrial nation from scratch.

The scrap value of a cities like LA and Detroit is on the order of tens of trillions of dollars. I bet if you were to do an account of the total wealth of our nation it would be in the tens quadrillions of dollars.

This business of being wealthy but feigning poverty is the oldest trick in the book. Especially when you owe everyone else money. The USA owes money to pretty much everyone, and they all know that if any single one of the major holders asked for payment in full they would never see any of it. As things are going now we give the rest of the world SOMETHING, trade, food-aid, war, and something is better then nothing.

The USA is far from bankruptcy, believe what you want but this is just another scare tactic meant to confuse and control your mind.
Future Viewer

User ID: 1344660
United States
11/30/2012 10:20 AM
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Re: The United States is not facing bankruptcy, it is bankrupt.
This is completely untrue. The United States is far from bankrupt, on the contrary we are the wealthiest nation on the planet and the evidence is all around us.

We have enough natural resources in the rocky mountains to rebuild an entire new industrial nation from scratch.

The scrap value of a cities like LA and Detroit is on the order of tens of trillions of dollars. I bet if you were to do an account of the total wealth of our nation it would be in the tens quadrillions of dollars.

This business of being wealthy but feigning poverty is the oldest trick in the book. Especially when you owe everyone else money. The USA owes money to pretty much everyone, and they all know that if any single one of the major holders asked for payment in full they would never see any of it. As things are going now we give the rest of the world SOMETHING, trade, food-aid, war, and something is better then nothing.

The USA is far from bankruptcy, believe what you want but this is just another scare tactic meant to confuse and control your mind.
 Quoting: Anonymous Coward 23524705


^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^


It wouldn't be bad the USA, if you got rid of all the "Parasitic Peoples" that have not contributed 1 iota to the USA. Like mostly "Entitlement Peoples", like the "Blacks", "Latinos" and certain types of Jews ("Hasadic/Russian/Religious/Orthodox") that have been sucking on Uncle Sams tit (actually Uncle Scam/Uncle Sham with Uncle Boris's) for the last 80+ years.

Clean up "AmeriKa", time is due!

rant
The Real "Kronos"..(1957 Movie)
Anonymous Coward
User ID: 1073423
United Kingdom
11/30/2012 10:25 AM
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Re: The United States is not facing bankruptcy, it is bankrupt.
1913 = debt slavery
Hypertiger

User ID: 12277324
Canada
11/30/2012 10:27 AM
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Re: The United States is not facing bankruptcy, it is bankrupt.
Since the USA is at the top of the global hierarchy...The USA can run a massive deficit because the USA is the supply of inflation which sustains the world.

It's computerized...They just issue enough to sustain a controlled collapse of the global trade system.
Future Viewer

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United States
11/30/2012 10:29 AM
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Re: The United States is not facing bankruptcy, it is bankrupt.
1913 = debt slavery
 Quoting: Anonymous Coward 1073423


^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^​

That was the 1st Nail in the Coffin with "AmeriKa", with the Federal Reserve Creation (1913), that was put into effect with another scam ass President of the USA (Woodrow Wilson), which 17 years later, led to the Voting In of that Communist Infiltrator FDR, who really destroyed this Country (USA).

clappa
The Real "Kronos"..(1957 Movie)
Anonymous Coward
User ID: 28744097
United States
11/30/2012 10:35 AM
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Re: The United States is not facing bankruptcy, it is bankrupt.
As of today, the nation's true indebtedness (promises that have been made for spending obligations, less all the taxes the Treasury expects to collect) exceeds $222,000 Billion. The indebtedness to Gross Domestic Product ($16,100 Billion) is a staggering 13.8 to 1. The United States is not facing bankruptcy, it is bankrupt.

Yet there is no sense of urgency or desire on the part of the governing class to level with the American people. This nation is living on the residue of the economic growth begun in the 1950's and accelerated in the 1980's. That tidal wave of prosperity has ebbed. The United States has entered into a death spiral of unrestrained spending, excessive taxation, printing near worthless money, and stagnant economic activity. Rather than be straightforward with the populace, the governing class is content to paper over the problem by the usual shell games of phony long-term spending cuts, more borrowing, and prevarications about the efficacy of raising taxes on "the rich."

The true nature of the GOP establishment's motivation has been exposed by their reaction to the Tea Party movement. This grassroots rebellion was the first manifestation of the awareness by a large portion of the American public of the nation's problems and ultimate consequences. Despite the overwhelming success of the Tea Party working within the Republican Party in the 2010 mid-term elections, nearly all of the Republican elites downplayed their success and fell-in with the mainstream media and the Democrats in their well-worn and gratuitous aspersions against these concerned and patriotic Americans. The Tea Party movement poses a threat to not only the accumulated power of the governing class but their livelihoods, thus the concerted effort to marginalize them by any vile or preposterous means possible.

The United States finds itself in a circumstance once thought unthinkable. An ill-educated and near morally bankrupt society increasingly made up of those dependent on government combined with a governing class whose primary interest is themselves. The nation cannot, therefore, make any meaningful course correction unless and until the people finally understand they have been lied to and conned by the current establishment. That will, in all likelihood, not occur until America faces imminent collapse and the citizenry turns on those who brought the nation to its knees.



Read more: [link to www.americanthinker.com]


this is the end paragraphs of a much longer article titled "The Governing Class and the Decline of America." there is nothing in this article that i can argue with. there many here who don't vote because they believe that both parties are the same.

i say there is a difference, but the difference is just personality and not outcome. i hate the people who come here and destroy this nation with their votes, but it occurs to me that those who vote for themselves do so at the behest of those who govern?
 Quoting: davvi


I do not vote because I know whats going on and whats going to happen because it was foretold! This society is corrupt because human beings are governed by the carnal spirit! Humanists, deists, and humanitarians all believe that they can create their own future, that they can solve all human problems by developing human relations in a democracy, that they can cure the fallen human condition through the development of their sciences and technologies, all without DIVINE GRACE! Those who think this way are doing exactly what the Heavenly Father through the prophets foretold! They will "setup" the "abomination that makes desolate" which is what the reaching the Zero Point is really all about!
Anonymous Coward
User ID: 1051105
United States
11/30/2012 10:43 AM
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Re: The United States is not facing bankruptcy, it is bankrupt.
This is completely untrue. The United States is far from bankrupt, on the contrary we are the wealthiest nation on the planet and the evidence is all around us.

We have enough natural resources in the rocky mountains to rebuild an entire new industrial nation from scratch.

The scrap value of a cities like LA and Detroit is on the order of tens of trillions of dollars. I bet if you were to do an account of the total wealth of our nation it would be in the tens quadrillions of dollars.

This business of being wealthy but feigning poverty is the oldest trick in the book. Especially when you owe everyone else money. The USA owes money to pretty much everyone, and they all know that if any single one of the major holders asked for payment in full they would never see any of it. As things are going now we give the rest of the world SOMETHING, trade, food-aid, war, and something is better then nothing.

The USA is far from bankruptcy, believe what you want but this is just another scare tactic meant to confuse and control your mind.
 Quoting: Anonymous Coward 23524705


Yes that is correct, BUT WHAT ABOUT CAFR!!! I wonder what percentage of the messages on these blogs is just shills throwing wood on the fire.

CAFR is the "elephant in the room" and 99% of you never talk about it. The reason you don't talk about it is because most of you are still in the matrix reacting, commenting, and thinking in a shallow manner just like our oppressors want you to. There is very little deep thought from most, just child like bickering in a way our controllers love. Never getting to the core or facts of the matter.

Our enlightenment is not going come from blogging about 50 different subject matters, most of which are meant to be distractions from important subject matter LIKE CAFR!!! Our enlightenment is going to come from a larger percentage of the population having a deeper understand of just a hand full of specific subjects. Once those topics are understood and then communicated amongst others, all the other nonsense will be resolved also.
Anonymous Coward
User ID: 23524705
United States
11/30/2012 10:48 AM
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Re: The United States is not facing bankruptcy, it is bankrupt.
This is completely untrue. The United States is far from bankrupt, on the contrary we are the wealthiest nation on the planet and the evidence is all around us.

We have enough natural resources in the rocky mountains to rebuild an entire new industrial nation from scratch.

The scrap value of a cities like LA and Detroit is on the order of tens of trillions of dollars. I bet if you were to do an account of the total wealth of our nation it would be in the tens quadrillions of dollars.

This business of being wealthy but feigning poverty is the oldest trick in the book. Especially when you owe everyone else money. The USA owes money to pretty much everyone, and they all know that if any single one of the major holders asked for payment in full they would never see any of it. As things are going now we give the rest of the world SOMETHING, trade, food-aid, war, and something is better then nothing.

The USA is far from bankruptcy, believe what you want but this is just another scare tactic meant to confuse and control your mind.
 Quoting: Anonymous Coward 23524705


Yes that is correct, BUT WHAT ABOUT CAFR!!! I wonder what percentage of the messages on these blogs is just shills throwing wood on the fire.

CAFR is the "elephant in the room" and 99% of you never talk about it. The reason you don't talk about it is because most of you are still in the matrix reacting, commenting, and thinking in a shallow manner just like our oppressors want you to. There is very little deep thought from most, just child like bickering in a way our controllers love. Never getting to the core or facts of the matter.

Our enlightenment is not going come from blogging about 50 different subject matters, most of which are meant to be distractions from important subject matter LIKE CAFR!!! Our enlightenment is going to come from a larger percentage of the population having a deeper understand of just a hand full of specific subjects. Once those topics are understood and then communicated amongst others, all the other nonsense will be resolved also.
 Quoting: Anonymous Coward 1051105


Your enlightenment is not going to come at all.
Nobody...
User ID: 1189609
United States
11/30/2012 11:17 AM
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Re: The United States is not facing bankruptcy, it is bankrupt.
As of today, the nation's true indebtedness (promises that have been made for spending obligations, less all the taxes the Treasury expects to collect) exceeds $222,000 Billion. The indebtedness to Gross Domestic Product ($16,100 Billion) is a staggering 13.8 to 1. The United States is not facing bankruptcy, it is bankrupt.

 Quoting: davvi


As a student who is currently studying economics, i have no idea what you are talking about.

Our yearly deficit(expenditures-revenue) is about 1.3 trillion. I'm not quiet sure where u get this 222billion or the 16 billion.
 Quoting: Royy


That's precisly why you can't understand, because you're a student. You're obviously well trained, as they've taught you to be arrogant about being allegedly educated (one of their agendas). Please be informed that the goal of the present education system (since 1910) is to get you to buy into their agenda (or system).
You're being condtioned, not educated, socialized, not free thinking, dumbed down, not a problem solver.
If education was the answer, please tell me how we got here in the first place.
Your college education is nothing more than 'work force training". It's not what you know, it's what can you do for the 'One World Economic System'.
Nobody...
User ID: 1189609
United States
11/30/2012 11:32 AM
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Re: The United States is not facing bankruptcy, it is bankrupt.
This is completely untrue. The United States is far from bankrupt, on the contrary we are the wealthiest nation on the planet and the evidence is all around us.

We have enough natural resources in the rocky mountains to rebuild an entire new industrial nation from scratch.

The scrap value of a cities like LA and Detroit is on the order of tens of trillions of dollars. I bet if you were to do an account of the total wealth of our nation it would be in the tens quadrillions of dollars.

This business of being wealthy but feigning poverty is the oldest trick in the book. Especially when you owe everyone else money. The USA owes money to pretty much everyone, and they all know that if any single one of the major holders asked for payment in full they would never see any of it. As things are going now we give the rest of the world SOMETHING, trade, food-aid, war, and something is better then nothing.

The USA is far from bankruptcy, believe what you want but this is just another scare tactic meant to confuse and control your mind.
 Quoting: Anonymous Coward 23524705


You're a fool, as our nation is built on debt. They print money pretty much on a whim.
Most of the wealth you see around you is smoke and mirrors.
That rich guy down the street from you is in debt up to his eyeballs.
Our debt is insurmoutable, and you're on the hook for it.
The banksters have us over a barrel and can pull the plug at anytime, as they have an agenda to collapse the dollar. The one world economy that is being formed right under your very deceived nose cannot work un less the corporation of the U.S is on an equal playing field with the rest of the nations.
You are human collateral, a slave, whether you want to believe, or not.
Thre is discussion about taking everyone's 401K's.
Most of the big cities are hovering near bankruptcy, if they haven't already fallen victim to it.
Their are whole municipalities that have no clue how they're going to pay pensions.
Many cities have cut services, laid off law enforcement, teachers, fire fighters, etc.
Fiat currency is the biggest joke, as it has no 'gold standard' since 1971, and is being propped up for the time being by the Fed, until they pull the plug,
QE3, instituted September, 2012, is prbably the final nail in the coffin that will ultimately lead to the intentinal destruction of the derivatives market, which will bring down the world's economy.
So, get off your high horse, and do your own research, and find out the truth.
There are powers-that-be who are determined to make sure the U.S. never have the sovereign power it once enjoyed.
Anonymous Coward
User ID: 23524705
United States
11/30/2012 11:52 AM
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Re: The United States is not facing bankruptcy, it is bankrupt.
This is completely untrue. The United States is far from bankrupt, on the contrary we are the wealthiest nation on the planet and the evidence is all around us.

We have enough natural resources in the rocky mountains to rebuild an entire new industrial nation from scratch.

The scrap value of a cities like LA and Detroit is on the order of tens of trillions of dollars. I bet if you were to do an account of the total wealth of our nation it would be in the tens quadrillions of dollars.

This business of being wealthy but feigning poverty is the oldest trick in the book. Especially when you owe everyone else money. The USA owes money to pretty much everyone, and they all know that if any single one of the major holders asked for payment in full they would never see any of it. As things are going now we give the rest of the world SOMETHING, trade, food-aid, war, and something is better then nothing.

The USA is far from bankruptcy, believe what you want but this is just another scare tactic meant to confuse and control your mind.
 Quoting: Anonymous Coward 23524705


You're a fool, as our nation is built on debt. They print money pretty much on a whim.
Most of the wealth you see around you is smoke and mirrors.
That rich guy down the street from you is in debt up to his eyeballs.
Our debt is insurmoutable, and you're on the hook for it.
The banksters have us over a barrel and can pull the plug at anytime, as they have an agenda to collapse the dollar. The one world economy that is being formed right under your very deceived nose cannot work un less the corporation of the U.S is on an equal playing field with the rest of the nations.
You are human collateral, a slave, whether you want to believe, or not.
Thre is discussion about taking everyone's 401K's.
Most of the big cities are hovering near bankruptcy, if they haven't already fallen victim to it.
Their are whole municipalities that have no clue how they're going to pay pensions.
Many cities have cut services, laid off law enforcement, teachers, fire fighters, etc.
Fiat currency is the biggest joke, as it has no 'gold standard' since 1971, and is being propped up for the time being by the Fed, until they pull the plug,
QE3, instituted September, 2012, is prbably the final nail in the coffin that will ultimately lead to the intentinal destruction of the derivatives market, which will bring down the world's economy.
So, get off your high horse, and do your own research, and find out the truth.
There are powers-that-be who are determined to make sure the U.S. never have the sovereign power it once enjoyed.
 Quoting: Nobody... 1189609


Try adding up the value of all the steel piping in a city like LA, then do the copper piping, and then do the cars. There are 5 million registered cars in LA county alone. The platinum in the catalytic converters are worth 500 million dollars at scrap retail value.

The wealth is very much still there, its just hidden, and rightly so.

I do my own research, and I conclude that we have more money then we know what to do with.


Like I said believe what you want, it makes no difference to me.

What I find hilarious about this whole thing is that I am a wealthy person, I would never have to work a day in my life for a thousand years if I didn't want to. Even if we were to come clean and tell everyone the absolute truth you wouldn't believe it anyway. Amazing.
Carshy McCarsh

User ID: 1486553
Germany
11/30/2012 01:44 PM
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Re: The United States is not facing bankruptcy, it is bankrupt.
whatever-

if you voted for romney or obama- its your fault.

 Quoting: Anonymous Coward 27851254


Fucking retard.
If you voted for anyone other than Romney, this is your fault.
As thousands of us were screaming at the top of our lungs before the election "A vote for anyone other than Romney is a vote for Obama".

And you fucking did it anyway, you POS.

granny
 Quoting: Carshy McCarsh


Respectively i disagree sir, Romney wanted to substantially increase defense spending which would only make our fiscal problem larger(and was the silver lining for why ron paul didnt endorse him).

Not only that but he is an establishement republican. If you think our monetary policy is shit like i do you can point the finger at bush and obama the two people who elected ben bernanke and if you think romney wouldnt do the same your nutz.
 Quoting: Anonymous Coward 14625665


Romney would have drove a stake thru the heart of ObamaCare and stopped the UBER LEFTY Socialist movement.

THAT ALONE would have been enough and make him worthwhile.....except of course to SHEEP like you.


So NOW you are going to get what you voted for.

hopechg
 Quoting: Burt Gummer


yes

I can't wait to hear how happy the libtards and Paultards are that Obama's plan to gut the military is successful, so successful that China takes the entire Pacific and Russia rolls over Europe.

Nice going, jackholes.
Tell me what this tastes like...
Anonymous Coward
User ID: 28008747
United States
11/30/2012 02:59 PM
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Re: The United States is not facing bankruptcy, it is bankrupt.
This is completely untrue. The United States is far from bankrupt, on the contrary we are the wealthiest nation on the planet and the evidence is all around us.

We have enough natural resources in the rocky mountains to rebuild an entire new industrial nation from scratch.

The scrap value of a cities like LA and Detroit is on the order of tens of trillions of dollars. I bet if you were to do an account of the total wealth of our nation it would be in the tens quadrillions of dollars.

This business of being wealthy but feigning poverty is the oldest trick in the book. Especially when you owe everyone else money. The USA owes money to pretty much everyone, and they all know that if any single one of the major holders asked for payment in full they would never see any of it. As things are going now we give the rest of the world SOMETHING, trade, food-aid, war, and something is better then nothing.

The USA is far from bankruptcy, believe what you want but this is just another scare tactic meant to confuse and control your mind.
 Quoting: Anonymous Coward 23524705


Let's not confuse the US corporation with the people of the USA and their assets.

I still like to think that what's mine doesn't really belong to the government. And that if the US corporation is bankrupt, fine. That corporation should be able to be dissolved, its debts cancelled to the extent that its assets cannot pay them, and here on this land we start over.

Note that state and local governments should not be considered parts of the US. I don't want our town hall or our local schools applied against the debt of those crooks in DC.

Otherwise your argument is right and our creditors can start deciding which of the people's assets they would like to go after.
Anonymous Coward
User ID: 28008747
United States
11/30/2012 03:05 PM
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Re: The United States is not facing bankruptcy, it is bankrupt.
This is completely untrue. The United States is far from bankrupt, on the contrary we are the wealthiest nation on the planet and the evidence is all around us.

We have enough natural resources in the rocky mountains to rebuild an entire new industrial nation from scratch.

The scrap value of a cities like LA and Detroit is on the order of tens of trillions of dollars. I bet if you were to do an account of the total wealth of our nation it would be in the tens quadrillions of dollars.

This business of being wealthy but feigning poverty is the oldest trick in the book. Especially when you owe everyone else money. The USA owes money to pretty much everyone, and they all know that if any single one of the major holders asked for payment in full they would never see any of it. As things are going now we give the rest of the world SOMETHING, trade, food-aid, war, and something is better then nothing.

The USA is far from bankruptcy, believe what you want but this is just another scare tactic meant to confuse and control your mind.
 Quoting: Anonymous Coward 23524705


You're a fool, as our nation is built on debt. They print money pretty much on a whim.
Most of the wealth you see around you is smoke and mirrors.
That rich guy down the street from you is in debt up to his eyeballs.
Our debt is insurmoutable, and you're on the hook for it.
The banksters have us over a barrel and can pull the plug at anytime, as they have an agenda to collapse the dollar. The one world economy that is being formed right under your very deceived nose cannot work un less the corporation of the U.S is on an equal playing field with the rest of the nations.
You are human collateral, a slave, whether you want to believe, or not.
Thre is discussion about taking everyone's 401K's.
Most of the big cities are hovering near bankruptcy, if they haven't already fallen victim to it.
Their are whole municipalities that have no clue how they're going to pay pensions.
Many cities have cut services, laid off law enforcement, teachers, fire fighters, etc.
Fiat currency is the biggest joke, as it has no 'gold standard' since 1971, and is being propped up for the time being by the Fed, until they pull the plug,
QE3, instituted September, 2012, is prbably the final nail in the coffin that will ultimately lead to the intentinal destruction of the derivatives market, which will bring down the world's economy.
So, get off your high horse, and do your own research, and find out the truth.
There are powers-that-be who are determined to make sure the U.S. never have the sovereign power it once enjoyed.
 Quoting: Nobody... 1189609


Try adding up the value of all the steel piping in a city like LA, then do the copper piping, and then do the cars. There are 5 million registered cars in LA county alone. The platinum in the catalytic converters are worth 500 million dollars at scrap retail value.

The wealth is very much still there, its just hidden, and rightly so.

I do my own research, and I conclude that we have more money then we know what to do with.


Like I said believe what you want, it makes no difference to me.

What I find hilarious about this whole thing is that I am a wealthy person, I would never have to work a day in my life for a thousand years if I didn't want to. Even if we were to come clean and tell everyone the absolute truth you wouldn't believe it anyway. Amazing.
 Quoting: Anonymous Coward 23524705


I don't doubt that you are wealthy. You show some clear understanding here.

But not all assets are in the form of the small peoples' cars and built infrastructure. Some of it is in the form like however you hold YOUR wealth. It's very tempting to suggest that before we go after people's cars, that we find a way to confiscate your trust funds and apply them to the debt.

Or else we recognize that we should prevent our creditors from avoiding the risk inherent in any loan to a limited liability corporation.
WAKEUPAMERICA01

User ID: 1466582
United States
11/30/2012 03:23 PM

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Re: The United States is not facing bankruptcy, it is bankrupt.


Last Edited by WAKEUPAMERICA01 on 11/30/2012 03:24 PM
WAKE UP AMERICA
"I love the man that can smile in trouble, that can gather strength from distress, and grow brave by reflection. 'Tis the business of little minds to shrink; but he whose heart is firm, and whose conscience approves his conduct, will pursue his principles unto death."
Thomas Paine, The American Crisis, No. 1, December 19, 1776
"Those who expect to reap the blessings of freedom, must, like men, undergo the fatigues of supporting it."

Thomas Paine, The American Crisis, No. 4, September 11, 1777
"I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the government at defiance. The issuing power (of money) should be taken away from the banks and restored to the people to whom it properly belongs." -- Thomas Jefferson, U.S. President.
"A majority of the people of the United States have lived all of their lives under emergency rule. For 40 years, [79 years now in 2012] freedoms and governmental procedures guaranteed by the Constitution have in varying degrees been abridged by laws brought into force by statutes of national emergency."
WAKEUPAMERICA01

User ID: 1466582
United States
11/30/2012 03:25 PM

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Re: The United States is not facing bankruptcy, it is bankrupt.

WAKE UP AMERICA
"I love the man that can smile in trouble, that can gather strength from distress, and grow brave by reflection. 'Tis the business of little minds to shrink; but he whose heart is firm, and whose conscience approves his conduct, will pursue his principles unto death."
Thomas Paine, The American Crisis, No. 1, December 19, 1776
"Those who expect to reap the blessings of freedom, must, like men, undergo the fatigues of supporting it."

Thomas Paine, The American Crisis, No. 4, September 11, 1777
"I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the government at defiance. The issuing power (of money) should be taken away from the banks and restored to the people to whom it properly belongs." -- Thomas Jefferson, U.S. President.
"A majority of the people of the United States have lived all of their lives under emergency rule. For 40 years, [79 years now in 2012] freedoms and governmental procedures guaranteed by the Constitution have in varying degrees been abridged by laws brought into force by statutes of national emergency."
Dr. Lecter
I'm a goddamn marvel of modern science

User ID: 24275310
United States
11/30/2012 03:26 PM

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Re: The United States is not facing bankruptcy, it is bankrupt.
factor in all those unfunded liabilities and entitlements, just like in california, illinois, and just about every other democratically controlled state... and yes, it's all over but the crying.

Last Edited by R.P. McMurphy on 11/30/2012 03:26 PM
Liberal Logic - Demanding that the government stay out of their bedrooms while insisting on taxpayer funded birth control.
Anonymous Coward
User ID: 28008747
United States
11/30/2012 03:26 PM
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Re: The United States is not facing bankruptcy, it is bankrupt.
As of today, the nation's true indebtedness (promises that have been made for spending obligations, less all the taxes the Treasury expects to collect) exceeds $222,000 Billion. The indebtedness to Gross Domestic Product ($16,100 Billion) is a staggering 13.8 to 1. The United States is not facing bankruptcy, it is bankrupt.

 Quoting: davvi


As a student who is currently studying economics, i have no idea what you are talking about.

Our yearly deficit(expenditures-revenue) is about 1.3 trillion. I'm not quiet sure where u get this 222billion or the 16 billion.
 Quoting: Royy


That's precisly why you can't understand, because you're a student. You're obviously well trained, as they've taught you to be arrogant about being allegedly educated (one of their agendas). Please be informed that the goal of the present education system (since 1910) is to get you to buy into their agenda (or system).
You're being condtioned, not educated, socialized, not free thinking, dumbed down, not a problem solver.
If education was the answer, please tell me how we got here in the first place.
Your college education is nothing more than 'work force training". It's not what you know, it's what can you do for the 'One World Economic System'.
 Quoting: Nobody... 1189609


I've been there. I've absorbed the education the economics profession has to offer and am grateful for it. Then I put that into context of other things I learned here and from other internet sources, things that were never mentioned in the formal education and put things in a different light. It doesn't invalidate what is said in the classroom, but it shows that that doesn't describe the whole picture. I think Royy asks a fair question, but on careful reading his quote contains the answer.

The debt davvi talks about is "the nation's true indebtedness (promises that have been made for spending obligations, less all the taxes the Treasury expects to collect)" not just what is owed in obvious debt like, say, government bonds outstanding.

The bitter truth is that much of this additional debt, maybe almost all of it, is owed internally. (Offhand, I can't think of any that would be owed to foreign creditors, but there probably is some.) A big part would be Social Security. Figure actuarial life expectancy for all the old folks like me (I am not collecting yet but it's not too far off, and my doctor just confirmed that I am in very good health knock-on-wood!) with inflation adjusted Social Security payments, subtract the revenues (illegal immigrants don't pay into this pool at all, and if they became legal they would not have the capacity to contribute much) and you see a country that appears to be past its prime. How can such a country pay all the Social Security it tells me I should get in its annual mailings to me? Yes, it takes the trouble to tell me every year how much benefit I've accumulated -- so I don't really want Congress to take that back!

The Fed did a paper a few years ago making just this very simple point, and observing that neither monetary policy nor fiscal policy can really help at all to fix it. We've promised too much and allowed ourselves to become economically incapable of paying. The easiest way to see this is to imagine that we don't have any money but just a barter economy. What I consume, somebody has to produce. There just isn't going to be enough production!
Anonymous Coward
User ID: 5386088
United States
11/30/2012 03:28 PM
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Re: The United States is not facing bankruptcy, it is bankrupt.
WELL... THEN WHO'S PAYING MY WELPARE AND FOODSTAMP RIGHT NOW? (YES IM ON IT)
WAKEUPAMERICA01

User ID: 1466582
United States
11/30/2012 03:28 PM

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Re: The United States is not facing bankruptcy, it is bankrupt.

WAKE UP AMERICA
"I love the man that can smile in trouble, that can gather strength from distress, and grow brave by reflection. 'Tis the business of little minds to shrink; but he whose heart is firm, and whose conscience approves his conduct, will pursue his principles unto death."
Thomas Paine, The American Crisis, No. 1, December 19, 1776
"Those who expect to reap the blessings of freedom, must, like men, undergo the fatigues of supporting it."

Thomas Paine, The American Crisis, No. 4, September 11, 1777
"I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the government at defiance. The issuing power (of money) should be taken away from the banks and restored to the people to whom it properly belongs." -- Thomas Jefferson, U.S. President.
"A majority of the people of the United States have lived all of their lives under emergency rule. For 40 years, [79 years now in 2012] freedoms and governmental procedures guaranteed by the Constitution have in varying degrees been abridged by laws brought into force by statutes of national emergency."