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

nope

GREAT THREAD
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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)

:)

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.

I see you haven't included

I bet Bloomberg has a ton of gold sitting somewhere and will profit from the hyperinflation

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

awesome profile pic

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.

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

Truly delusional thinking on his part -- he must be caught up in the Twilight Zone...

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

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.

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.

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.

LOL at the people in this topic thinking they know more about the economy then Bloomberg.

oh....that paper stuff?

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?!?!?

The money print machines are out in full force these days, with nothing to back it up >>> inflation.

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.

They need to take him away.

Millions. How did Bloomy get his? Infinite supply of money? Define infinite.

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.

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




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The only thing infinite, is the amount of detachment, stupidity, and contempt this government has for the will of the people.

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.