Posted on 02/17/2009 1:36:53 PM PST by FromLori
Now, there is a need for a fiat, debt based monetary policy. When a farmer borrows money to buy seeds that will grow, be harvested and produce something, that is good. The harvested crop will be sold, eaten, made into other things and more seeds will be collected for future sale for more crops. However on the macro level when a consumer takes on debt to buy TV's, Blue Ray and cell phones, there is nothing produced, the value of what you went into debt for actually decreases. You have pull your future earnings forward in order to pay for the gadget plus its interest. That is what becomes unserviceable.
Today, the consumer is tapped out on debt. They can no longer refinance or HELOC their home to pay credit cards, buy cars or send kids to college. Now the government is going to try to do it for them. This is so totally wrong and dangerous in my opinion. The government needs to ringfence itself from this so that when things collapse, they can afford basic shelter, food and medical care for the people. At the rate our government has been going, it won't be able to have soup for the soup lines. Now, if anyone says the government will just print, I say name one country/ government that did that that didn't end up with a tyrant when it collapsed. There better be at least a million people with pitchforks and rotten tomatoes in D.C., not to mention the millions that had better take to the streets of their home towns when that idea is floated.
Look at Jubilee.
The concept of the Jubilee is a special year of remission of sins and universal pardon. In the Biblical book of Leviticus, a Jubilee year is mentioned to occur every fifty years, in which slaves and prisoners would be freed, debts would be forgiven and the mercies of God would be particularly manifest.
This is hardly a new phenomenon.
Yes, the Bank of Serta and Bank of Sealy released their Q4 numbers and are very well capitalized. :)
TX but nothin I have not known for 20 yrs. Try to tell some moron and get the knowing look of a cow being led to the slaughterhouse. People are so stupid and unaware it makes me sick.
Trilaterals, CFR and other more exclusive elitists own the U.S. Nobody wants to here it, however. I have two very close friends who are high up in banking. One of them still believes his $ 2 Million home is still worth millions. The other does not want to hear the truth about elitists controlling the economy.
The are far more comfortable believing myths they were taught as children. They are good Americans. Both voted Republican. Need I say more?
George Soros’ thoughts on Capitalism (1997): http://www.mtholyoke.edu/acad/intrel/soros.htm
Why would and investment/fund house not question a client and his motives with that of a position in a Money Market. I am not a CFA ( Chartered Financial Analyst, the tag you need to run a Fund ) but I would have for darn sure been asking the question and their intent....
2nd, this mystery client has to be on record, i.e just like the monthly statements us schlubs get.
These records could be requested in a Tax Audit or maybe even a Congressional Subpoena, I am sure Charlie Rangel will be requesting them soon.....( Sarc/off ).
IMHO this is so easy, but with the Chicago Mob running all three branches, it ain't gonna happen.....
Yep.
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