Posted on 09/26/2012 6:14:35 AM PDT by SeekAndFind
And that trick's current form is called "Quantitative Easing". In a process akin to Hawking Radiation, the Federal Reserve observes that $0 = $1T - $1T, writes "+$1T" in its assets ledger, writes "-$1T" in its liabilities ledger, parks the debt, and injects the "new" trillion dollars into the economy. That injection is done by buying Treasury bonds, to wit giving it to the Federal Government. The mere existence of that "new" money instantly devalues all currency by creating more money to share total value covered by all dollars; there being about $15T in "money" (physical plus virtual/debt currency) now, another sudden trillion devalues all dollars by about 6.25%. By this trick, the government conjures $1 out of thin air, and that $1 in your pocket is now worth $0.94 ... effectively taking $1 from every $16 you had, without actually going thru the trouble of putting a gun to your head and taking that dollar.
Bingo: redistributed wealth.
Oh, someday the Federal Reserve will get around to reconciling that -$1T entry in the liabilities ledger. No rush. Annual real interest payments on an imaginary trillion dollars will do very nicely, thank you very much, they'll even settle for a paltry interest rate of 1.5%, the Fed can get by on a nominal income of $15,000,000,000 per year in return for a few minutes of creative paperwork.
Oh, and when people (individuals, organizations, governments...) stop buying Treasury bonds with real money (whatever currency) because the US inflation rate jumps to 6.25% and accelerates from there? The Fed just keeps rehashing "$0 = $1T - $1T" so the Left can keep printing checks to people who don't create value commensurate to the currency being created, creating an exponential-growth need for ever more currency to cover unfunded liabilities ... to wit hyperinflation.
If you want to keep your wealth, get it out of dollars and into real things with real inherent value.
The difference, today, is that the Government has become the "Highway Man." The Government robs productive "Peter," to subsidize unproductive "Paul"; both turning public morality on its head, while usurping the role of religion in providing a safety net for the truly unfortunate.
Attention is again called to how Welfare was handled in Jefferson's Virginia. The contrast to the present, says it all: See section on subject in Reality.
William Flax
*
TM Ping.
Article and comments.
.
He recognized all the ploys, the propaganda, the code words, the promises as the road to tyranny, because he had seen them all and lived through them all before.
Many of us see it, but we know there is a portion of the american electorate out there that doesn’t see it at all.
Hearing the vehemence in his voice greatly disturbed me.
Ping to you, ottbmare. You posted once about some woman of your acquaintance, also an immigrant from Eastern Europe and a new American citizen, supposedly an educated woman, who (inexplicably) has expressed a desire to vote for BO. Do I remember correctly?
Buckeye McFrog: I've met someone with similar background who knew the old Soviet Union all too well and didn't want to return to those ways.
Thanks for the ping.
Let me correct what I said about that Eastern European woman. Her English is perfectly awful and I find it hard to understand, but with time I’ve come to comprehend more. It was quite interesting!
The other night, I said, “Obama is a communist.”
She replied, “Yes, communist. Yes, Muslim. But not important, eh? He only one percent of problem. Men behind him, they do all. They very strong. They do—” (she swept her hand around to indicate the whole region, or everything) “all this, they do. Very bad, yes?”
She speaks fluent Russian. Hates the Russians and all their doings. Hates communism. She will not be voting for Obama in this, her first US election. She apparently believes, as many conservatives do, that Obama is an agent for larger interests.
From the Father of Communism, Karl Marx, the Democrats and RINOs have renamed his original text as any and all of the following: “re-distribution of wealth, progressive income tax schedule, spreading the wealth around, doing something about income inequality, fairness doctrine, making sure everyone has a fair shot, no child left behind, asking the rich to pay a little more, taxing the millionaires and billionaires, etc, etc, etc.
Original Marx text: “From each according to his ability, to each according to his need.”
Good, at least she understands BO is a communist, and she won't be voting for what she escaped.
Thanks for the Ping.
Not only that, but the actual definitions that they use for the terms Communism, and Socialism in today’s universities are almost the OPPOSITE of what we were taught as the official definition of these “-isms”. That is why many young liberals laugh and sneer when we mention those two words - their mis-education makes us look like idiots to them, like we have no clue what we’re talking about, when in actuality, it is them who have been taught wrongly. It’s extremely frustrating - if we can’t even get people to understand the proper definitions for the words, how can we possibly get them to understand the philosophies behind them, and competing philosophies and why they have proven to be better? They support something that isn’t even close to reality...
I guess what I’m trying to say is that I agree with your post. Almost an entire generation HAS been brainwashed. I thank God that at least I was old enough during the 80s to have witnessed the Soviet Union BEFORE it collapsed, and have friends and family who LIVED in and had to ESCAPE from the USSR. I doubt even some of the younger kids in Russia know how bad things really were just 2 short decades ago...
Communism is a dead horse, has not worked anywhere, its an ideology that thrives only because of those that desire to be on top of it controlling the people.
America cannot accept communism, Islam, Marxism of any type or whitewashed hope changy name replacement.
But what I find interesting is that she sees that there are more powerful men backing Obama. That’s rather astute for someone who doesn’t have much English.
(Heaven help her, she is extremely intelligent and held an advanced degree in her home country. Now she has to work a truly exhausting and humbling job here in the US. But she is deeply glad to be here on any terms. I just wish I could figure out a way to help her advance.)
“Communism: we pretend to work and the government pretends to pay us.”
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.