Armstrong makes some very good points in his article, but the one above is not among them.
Weimar Germany in the early 1920's offers the solid empirical proof required by Armstrong--an ecomomic system committing suicide by printing press.
Posted on 08/07/2011 10:41:32 PM PDT by Razzz42
Anyway, his main point is, why not issue interest free money (by printing) instead of having to pay interest on bonds the US sells to foreign nations? Good idea but the banksters don't like it that way (no interest to collect or profit from).
S&P Motives?
Very interesting. The owner of S&P is McGraw Hill.
Note this:
—
Pre-Marketing: S&P for sale?
http://www.businessbrokerjournal.com/blog/pre-marketing-sp-for-sale
“Big breakup? Activists put pressure on S&P owner McGraw Hill “
Standard & Poor was wrong on Enron, they were wrong on B.S. and they are wrong now.
Interesting reading.
Oh please... We deserve his rating or lower!
...To make matters worse, 46% of these interest expenditures are exported and have just ABSOLUTELY NO domestic stimulus affect whatsoever...
Either I’m missing your point about the destruction of money or you think interest/usury is a good thing.
It’s not just debt that is the cause of the lost AAA ratitng.
Since the housing/financial crsis, we have resorted to mob rule and gangster government, and gone from being a nation of laws to that of men. Many of the elements that contributed to having the higest rating, like a respect for property rights and orderly bankruptcy processes has gone out the window. And that says nothing about a radical executive that violates laws he doesn’t like. And that says nothing about the jacking of the capital reserve ratios in order to funnel money into Fannie and Freddie and governemntal entites with ratings AA and above, that got us into this mess in the first place. It really was no accident that all those mortgage securities generated by the GSEs were rated AAA and ended up ripping off investors all over the world in a really big way.
The US just isn’t the same place it was when I was a kid, and that’s a real shame.
Armstrong makes some very good points in his article, but the one above is not among them.
Weimar Germany in the early 1920's offers the solid empirical proof required by Armstrong--an ecomomic system committing suicide by printing press.
Are they planning to shoot themselves in the other foot?
http://www.freerepublic.com/focus/f-news/2760265/posts
You are missing the point about having to pay interest on bonds which are printed in lieu of actual money (printing). Besides, Wiemar was being forced to pay off war debts to other countries which ruined their local economy, the punishment for warring and losing. Where’s Wiemar today after the world banks inflict a depression on the world, at the time, starting with Wiemar?
Have a look at our US account balance for last year, and it’s much worse by now.
CIA World Factbook
Country Comparison: Current Account Balance
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2187rank.html
You got that right. Every credit rating group should have downgraded the US when the government ignored over a hundred years of bankruptcy law and took over GM. That proved that they will nationalize property just like any third world dictatorship even if they call it something else. Regards
If it’s from the Federal Reserve, there’s interest. Even if the government printed it without the discretion of the federal reserve, that would cost revenues to pay government employees, administrators and all for the printing. It would also, of course, inflate the money supply, making the currency worth less.
If you want sustainable revenues to pay those who still have jobs (government, services, etc.), those will have to come from a large manufacturing base. Have fun. Enjoy the ride.
S&P in bed wih bin bama? Crisis they didn’t want but want?
Note how they are trying to hang the downgrade on the Tea Party... which is not a real party in any sense.... but precisely what Obama fears most in the next election. He cares not one bit about how this decimates the self same citizens he says he cares so much for..... it’s all about getting re-elected. What a POS.
The real story was to set up a New world Currency this is what all this craziness of borrowing money was about the real goal to bring about or force the nations to comply with a One World currency!
Amerikan Expose | Hegelian Dialectic aka Marxist Dialect
S&P in bed wih bin bama? Crisis they didn’t want but want?
***
I agree wonder if Barney Frank knew John Chambers...
Fannie & Freddy never got slammed but the US was slammed...
chickens come home to roost!
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1 day ago – John Chambers, managing director of sovereign ratings at S&P was ... A gay guy without a cell phone.” as uttered by Punch Epstein in The ...
http://crooksandliars.com/john-amato/sps-credibility-gap
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