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Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'

 
Anonymous Coward
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03/02/2013 01:04 PM
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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
this bubble is gonna burst when obamacare goes into effect
 Quoting: mrmuffins69


nope
John D Rockerchild
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03/02/2013 01:05 PM
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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'



GREAT THREAD
_______________

Bloomberg is paradoxically correct and clueless..

Anyway-

Great Question

Why pay taxes?

Answer:

Debt based fiat currency cannot ever be paid back in totality

They know this

However, there is one thing everyone is overlooking

The system has not crashed because of 2 reasons

one you already understand- they print non collateralized paper from thin air

ok got that

but here is the essential sleight of hand to keep it kosher if you will

DEBT SERVICE

Taxes are like the minimum payments on a credit card

We pay taxes to SERVICE the debt we can never pay off entirely

Taxes provide the illusion of amortization

They are a lie however- the goalposts move downfield as we gain yardage with each payment/taxation

So- we pay taxes so there is a balance sheet CASH FLOW

this provides justification for more lending- it is why Ponzi schemes require not only NEW MONEY IN to grow but they require NEW MONEY IN to repay old investors to keep the appearance of real ROI

So- if THEORETICALLY there was a tax revolt or some type of tax withholding (no pun) then the entire system would reveal itself as the naked Ponziconomy it in fact is

The bottom line?

This system is on life support, by design or accident, and there is NO WAY that it can continue without massive hyperinflation and devaluation and finally an issuance of a new currency, if not an entirely new financial system

Here is a clue

BITCOIN

That is the future

Decentralized currency created by the people for the people without a central bank that PROFITS from the DEBT incurred @ time of creation

Thank you and have a nice day

John D. Rockerchild
(The bastard child of a Rothchild and Rockefeller)

:)
Interstellar Breeze

User ID: 29898248
Sweden
03/02/2013 01:05 PM
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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
The stock market is doing great is all that matters. National debt, unemployment, bailouts, food stamps means
nothing anymore. The fact that more people becoming poor, rising costs, people being depressed is ok because apparently there is unlimited money, just not for you..


No wonder people are disheartened and in disbelief.


Truth is they are incompetent at running an economy, and even coming up with a working economic system.



Same thing in Europe, all is great, while half of EU is crumbling and losing it's future completely.
Mr. Predictor
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03/02/2013 01:06 PM

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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
I'm ready to place the name of Bloomberg in with Bush, Sr., Cheney, Ashcroft, et al. all in the same category of names.
 Quoting: Superduper


I see you haven't included

83992assbros

smellfinge
6473madburger

Obama Pledge

I pledge allegiance to the unions
And to civil unrest in America
And to the Republic
I plan to destroy
Two Nations
Under funded
Divided
With misery and poverty for all

“Barack Obama thinks his job is to lead the mob, not the country.”
Mr. Predictor
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03/02/2013 01:07 PM

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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
I bet Bloomberg has a ton of gold sitting somewhere and will profit from the hyperinflation
6473madburger

Obama Pledge

I pledge allegiance to the unions
And to civil unrest in America
And to the Republic
I plan to destroy
Two Nations
Under funded
Divided
With misery and poverty for all

“Barack Obama thinks his job is to lead the mob, not the country.”
Anonymous Coward
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United States
03/02/2013 01:09 PM
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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
I bet Bloomberg has a ton of gold sitting somewhere and will profit from the hyperinflation
 Quoting: Mr. Predictor


Mr. Bloomberg needs tarred and feathered. I'll drink as much Coke as I please, thanks.
mrmuffins69

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03/02/2013 01:09 PM
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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
I'm ready to place the name of Bloomberg in with Bush, Sr., Cheney, Ashcroft, et al. all in the same category of names.
 Quoting: Superduper


I see you haven't included

83992assbros

smellfinge
 Quoting: Mr. Predictor


awesome profile pic
Anonymous Coward
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United States
03/02/2013 01:19 PM
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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
this bubble is gonna burst when obamacare goes into effect
 Quoting: mrmuffins69


nope
 Quoting: Anonymous Coward 35436316


oh yeah ...along with everything else...
The Sonic Dreamer

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03/02/2013 01:24 PM
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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
shillbernanke
Currently working on:
Bach: Invention No. 1
Joplin: Maple Leaf Rag
Mendelssohn: Tarantella Op.102 no.3
Mendelssohn: Venetian Boat Song Op. 19 no. 6 (both from 'Songs Without Words')
The Sonic Dreamer

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03/02/2013 01:24 PM
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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
I'm ready to place the name of Bloomberg in with Bush, Sr., Cheney, Ashcroft, et al. all in the same category of names.
 Quoting: Superduper


I see you haven't included

83992assbros

smellfinge
 Quoting: Mr. Predictor


awesome profile pic
 Quoting: mrmuffins69


fun66

franken-feinstei
Currently working on:
Bach: Invention No. 1
Joplin: Maple Leaf Rag
Mendelssohn: Tarantella Op.102 no.3
Mendelssohn: Venetian Boat Song Op. 19 no. 6 (both from 'Songs Without Words')
The Quiet One
The Quiet One

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03/02/2013 01:28 PM
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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
Bless the Billionaire Bloomberg who has billions stashed and untaxed.

He did not earn it on his smart and savy ways, he earned through inheritance. Big difference.

Mr. Bloomberg, do us a favor and go back to worrying about Starbucks, soft drinks and food portions. While you are at it; ask your private chef to prepare an extra plate and take it to the homeless person camped out on a NYC street.
Superduper
Never, ever give up

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03/02/2013 01:31 PM

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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
I'm ready to place the name of Bloomberg in with Bush, Sr., Cheney, Ashcroft, et al. all in the same category of names.
 Quoting: Superduper


I see you haven't included

83992assbros

smellfinge
 Quoting: Mr. Predictor


No prob. Throw them in as well. Make no mistake, I am NOT a sheeple who believes there is a difference in parties. Savvy?
kingbirdfivezero

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United States
03/02/2013 01:34 PM
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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
Truly delusional thinking on his part -- he must be caught up in the Twilight Zone...
Superduper
Never, ever give up

User ID: 32277734
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03/02/2013 01:37 PM

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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
And, as I understand it, Mr. Bloomers does not receive a salary for the damage he does (if wikopd. is correct). I would say that in itself should have been a red flashing light of danger.

There used to be people who would call into the law office where I worked and volunteer their work services. The lawyer loved that and would have gone for it but I, who was a very hard working employee, prayed that this would not happen and it did not.

Beware of those who want to work for free to get their foot into the door and who are NOT qualified. In this case, one has to ask WHY would he want to work for free?

From Wikopedia:

As the mayor of New York, Bloomberg declines to receive a city salary, accepting remuneration of $1 annually for his services.[24] He maintains a public listing in the New York City phone directory,[25] residing not in Gracie Mansion – the official mayoral residence – but instead at his own home on the Upper East Side of Manhattan, at 17 East 79th Street between Madison and Fifth Avenues. He owns additional homes in London, Bermuda and Vail.[26]

Bloomberg says that he frequently rides the New York City Subway, particularly in the commute from his 79th Street home to his office at City Hall. An August 2007 story in The New York Times asserted that he was often seen chauffeured by two New York Police Department-owned SUVs to an express train station to avoid having to change from the local to the express trains on the Lexington Avenue line.[27]

Last Edited by Ms. Superduper on 03/02/2013 01:43 PM
Superduper
Never, ever give up

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03/02/2013 01:48 PM

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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
I'm ready to place the name of Bloomberg in with Bush, Sr., Cheney, Ashcroft, et al. all in the same category of names.
 Quoting: Superduper


I see you haven't included

83992assbros

smellfinge
 Quoting: Mr. Predictor


Mr. Predictor, You should calm down before you jump to conclusions and rush to give someone bad 'karma'. You are foolish. Apparently, you still believe there is a difference between dems and repubs. Wake up sweetheart.
page8844
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03/02/2013 01:56 PM
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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
ya know everyone can kind of guess about how much our debt is, but it would prob be shocking what the exact amount really is, just something to ponder on.
Anonymous Coward
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03/02/2013 02:08 PM
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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
He is totally RIGHT

The US debt could reach 700 trillion, and it would NEVER be a problem.

The United States is the only country in the world that can spend as much money as wanted, with no worries.

The US public debt is NOT a problem.

The size of the debt is NOT a problem.

It doesn't matter if it's 16 trillion or 700 trillion.

The US government will NEVER run out of money.

It's kind of "magic", but it's totally true.
Anonymous Coward
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03/02/2013 02:10 PM
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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
LOL at the people in this topic thinking they know more about the economy then Bloomberg.
Integrity101

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03/02/2013 02:11 PM

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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
oh....that paper stuff?
Unixlike

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03/02/2013 02:20 PM
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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
LOL at the people in this topic thinking they know more about the economy then Bloomberg.
 Quoting: Anonymous Coward 9266723


If what he says is true then why not stimulate the economy by printing out fifty thousand dollars for every citizen? It'd be boom town around here.

If what he says is true then why do we not have 30 carriers and 2000 F22s? Why doesn't NASA have a manned spacecraft? Why didn't Detroit get a relief chack for 15 billion? Why do we use oil when we could subsidize green energy with a printing press?

Why the FUCK did we have a fucking sequester yesterday?!?!?
Anonymous Coward
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Netherlands
03/02/2013 02:22 PM
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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
The money print machines are out in full force these days, with nothing to back it up >>> inflation.
Anonymous Coward
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03/02/2013 02:22 PM
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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
LOL at the people in this topic thinking they know more about the economy then Bloomberg.
 Quoting: Anonymous Coward 9266723


If what he says is true then why not stimulate the economy by printing out fifty thousand dollars for every citizen? It'd be boom town around here.

If what he says is true then why do we not have 30 carriers and 2000 F22s? Why doesn't NASA have a manned spacecraft? Why didn't Detroit get a relief chack for 15 billion? Why do we use oil when we could subsidize green energy with a printing press?

Why the FUCK did we have a fucking sequester yesterday?!?!?
 Quoting: Unixlike


Because we only have infinite money as long as we make an effort to peserve our economy.

Basically, if we just printed infinite money, everyone would stop buying or debt because it would be clear that we've given up on a balanced economy.

THAT SAID, as long as we don't just completely give up, people will be willing to buy our debt in perpetuity because it's more stable and reliable then any other investment in the world. Stuff like Quantitative easing can go on forever, essentially. The US will never run out of money.
s. d. butler

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03/02/2013 02:38 PM
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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
Bloomberg's head has a near infinite cavity to someday, hopefully, have a brain inserted.
 Quoting: Anonymous Coward 21583061


The guys has made billions with "no brain", according to you. With your brain, how much have you made?
 Quoting: Anonymous Coward 832854


laugh
KimmieAnnaJones

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03/02/2013 03:18 PM

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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
Does anyone need any more proof this man is an idiot?
 Quoting: Anonymous Coward 33661162


They need to take him away.
whitevan
crazyjak
"Holy, holy, holy is the Lord God Almighty, who was, and is, and is to come." - I AM
[link to www.nationalreview.com]
Anonymous Coward
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03/02/2013 03:21 PM
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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
Bloomberg's head has a near infinite cavity to someday, hopefully, have a brain inserted.
 Quoting: Anonymous Coward 21583061


The guys has made billions with "no brain", according to you. With your brain, how much have you made?
 Quoting: Anonymous Coward 832854


laugh
 Quoting: s. d. butler


Millions. How did Bloomy get his? Infinite supply of money? Define infinite.
Anonymous Coward
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03/02/2013 03:21 PM
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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
He is totally RIGHT

The US debt could reach 700 trillion, and it would NEVER be a problem.

The United States is the only country in the world that can spend as much money as wanted, with no worries.

The US public debt is NOT a problem.

The size of the debt is NOT a problem.

It doesn't matter if it's 16 trillion or 700 trillion.

The US government will NEVER run out of money.

It's kind of "magic", but it's totally true.
 Quoting: Anonymous Coward 35440259


It only works as long as foreign nations allow it to work. But not allowing it to work is a lose-lose situation, so no one is interested in bringing it down. Governance is business.
DVCMCM

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03/02/2013 03:26 PM

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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
shillbernanke
 Quoting: The Sonic Dreamer


>>>>>> [link to dailycapitalist.com]




*
saved

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03/02/2013 03:28 PM

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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
“It depends on how long,” Mr. Bloomberg said on his weekly WOR radio show with John Gambling. “If it lasts a few weeks, no. If it does, yeah. We get 10 or 12 percent of our budget from the federal government, not all of that is going to be cut back, but there would be effects–not good effects. But in the context of, ‘Is anything going to change tomorrow? Are we going to run out of money tomorrow?’ I’m sure I’ll get that question at the [next] press conference. No.”

Furthermore, while saying the federal deficit does indeed need to be curtailed, Mr. Bloomberg argued the United States could owe “an infinite amount of money” and there is no specific amount that would cause the country to default.

“We are spending money we don’t have,” Mr. Bloomberg explained. “It’s not like your household. In your household, people are saying, ‘Oh, you can’t spend money you don’t have.’ That is true for your household because nobody is going to lend you an infinite amount of money. When it comes to the United States federal government, people do seem willing to lend us an infinite amount of money. … Our debt is so big and so many people own it that it’s preposterous to think that they would stop selling us more. It’s the old story: If you owe the bank $50,000, you got a problem. If you owe the bank $50 million, they got a problem. And that’s a problem for the lenders. They can’t stop lending us more money.

[link to politicker.com]
 Quoting: Sleeping Giant

The only thing infinite, is the amount of detachment, stupidity, and contempt this government has for the will of the people.
Come And Take It!
Anonymous Coward
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03/02/2013 03:30 PM
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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
The banks can print more to enslave us more.
 Quoting: strikeforce


yes, he doesn't mean YOU have infinite money, he meant him and his ju friends have an infinite amount of money. They get first use of it, when they pay your children to serve them, pick cotton for them, etc.
Anonymous Coward
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03/02/2013 03:33 PM
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Re: Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
5a

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