Posted on 12/04/2010 10:00:06 PM PST by SmithL
I'm not a Pollyanna. I can read road signs. We have spent ourselves into ruin and we're riding the bus toward the financial cliff.
U.S. Sen. Bob Corker recently held a town meeting in Knoxville entitled "Born Broke," emphasizing that children are now born with $43,000 of debt because we continue to borrow and spend their money.
However, there's another problem: the Chinese and the internationals no longer want to buy our Treasury notes and debt. Not to worry; the Federal Reserve will save us by printing $600 billion and use it to buy Treasury bonds. They call this QE2 (quantitative easing), after last year's similar scheme called QE1, that cost $1.7 trillion.
Unfortunately, by flooding the monetary pool your dollar will soon be worth 80 cents. The rest of the world is furious over this policy as they watch their investments decline; and we should be enraged as well.
Resonating with me lately is the notion of sacrifice. Our country has been blessed with relative peace and prosperity since the end of the Great Depression and World War II. However, we now find ourselves engaged in a perpetual war with terrorism driven by the perverted ideology of radical Islam. And we're broke.
We usually think of sacrifice as a choice, but our children have not chosen our profligate ways. Perhaps they'll repay us someday when they are forced to choose between bread on their table or paying for grandpa's medicine and nursing care.
(Excerpt) Read more at knoxnews.com ...
Not to worry; the Federal Reserve will save us by printing $600 billion and use it to buy Treasury bonds.
If the Federal Reserve is not a federal bank but just a private bank with the name “Federal” in it,
like Federal Express,
why do we need them to “print” our money
which we must then borrow from them
and then we must pay THEM interest ?
I don’t understand why we can’t just print our own funny money ...
Hmmmm....maybe we should start...printing our own “funny money.”
It is against the Constitution for the Federal Government to print money. They are only allowed to ‘coin’ money. Other than a during the Civil War, we coined money, and the country grew in wealth. But, we can not afford it now. So they gave monopoly power to a private company, known as The Federal Reserve, LLC. The value of a dollar has decreased 98% since 1917. We are on a power dive to worthlessness now.
Enjoy.
we take advantage of the tax rules in reguards to charity, but the really true charity that we might do is something we can't claim....helping nephew or nieces, or other family members...not expected but appreciated...
I think if we got back to our foundation...that families worked together to see all their members thru school, sickness, joblessness,or any crisis....we would be so much better off...
my Vietnamese friend tells me she is expected to not only help her mother, her sisters, her brother in med school, but also her mother in law, and I am talking to the tune of thousands of dollars...and she is not rich...she is a caregiver....but its part of their culture that they take care of their own....I like it...
Do you not know how much an ink cartridge costs?!? I’ll try using monopoly money first.
Blew the crap out of a half dozen targets in the general direction aimed at.
Everyone was pleased (not so much).
Why does this article bring this forgotten incident to mind...?
The Federal Reserve is simply a powerful Quongo partnership between banks and the federal government that sets our monetary policy and is relatively unaccountable to elected officials. Scary is it?
Why work? Let’s print money....
Well, the flip side of that argument is that an individual involuntarily burdened with meeting the needs of the collective - even a small collective like a family - is far less likely to have the time or mental energy to cure cancer or send rockets to the moon.
Well, the flip side of that argument is that an individual involuntarily burdened with meeting the needs of the collective - even a small collective like a family - is far less likely to have the time or mental energy to cure cancer or send rockets to the moon.
(rhetorical question) Then why doesn't the government negotiate a new company to handle this? I mean, the Fed Govt has made almost every department fight for their jobs. They have to find their own money, which means they have to compete with other agencies. Plus, every contract awarded has to compete against other companies and it's the lowest bidder who usually wins. Why not the Federal Reserve?
After the disaster of the Revolution’s printed money, it was written that the only money creating powers the Federal government could have is ‘to mint coins’. So, it is unconstitutional for the Federal government to print money. So, they set up, or ‘chartered’ a private company, now called ‘The Federal Reserve’.
We used to have State, state government, banks. I believe the only one still is North Dakota. And we had private banks which printed their own money. In short we had decentralized, compartmentalized, money printing at the State level and responsible to local conditions.
This was/is annoying to the Federal government and large economic interests, hence the creation of the Federal Reserve.
It is really about centralized elite money, power. Everything else is details and what you or I or we might like is immaterial to them. We are digits, resources, faceless.
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