Posted on 11/19/2012 8:41:48 AM PST by Nachum
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Home » News Treasury Secretary Geithner: Lift Debt Limit to Infinity By Elizabeth Harrington November 19, 2012 Subscribe to Elizabeth Harrington's posts
(CNSNews.com) - Treasury Secretary Timothy Geithner said Friday that Congress should stop placing legal limits on the amount of money the government can borrow and effectively lift the debt limit to infinity.
On Bloomberg TV, “Political Capital” host Al Hunt asked Geithner if he believes “we ought to just eliminate the debt ceiling.”
“Oh, absolutely,” Geithner said.
“You do? Will you propose that?” Hunt asked.
(Excerpt) Read more at cnsnews.com ...
Weimar America
I’m sure that this government would press the infinity ceiling if they had the option.
Wow Geither practices Buzz Lightyear economics.
Why does there have to be a choice, he could be both. I say he is.
ummm- you did correct him, yes?!?! God help us all if you didn’t.
I wish I could just tell my credit card company to raise my debt ceiling to infinity.....
picture: obama watching from a tree branch,shouting ‘forward’ to 53 million dumbass obama lemming voters running over the fiscal cliff. can’t get there fast enough.
this must be how the germans felt being slowly but progressively taken over by hitler in the 30s.
Paging Larry Kudlow....
Wiemar Germany, Zimbabwe, Argentina...no, we don't have any examples in the 20th century how that works out...
When the crash comes, 49.8% of the people will scream for a tyrant, dictator to come and save them. Bunch of ignorant lemmings.
Check your stores, logistics and commo, it's going to be a bumpy ride...
5.56mm
You should show him some of the pictures you can find on the web when looking for “Weimar Republic” pictures.
You’ll find one or two where a wheelbarrow full of German Marks are what it takes to buy a loaf of bread.
Back in the 70s, I was stationed in Europe and went TDY to Italy several times. They used to have a 1 Lira coin - aluminum, not worth squat...they got very scarce...it turned out clothing manufacturers found it easier to use them as “button backs” than to go to the trouble of making something else out of some other material...
You, your children, your labor, property, everything ....long ago was posted, secured, claimed. That is what the in one tax/federal reserve act la 1913 was about. Previously fedgov had to have gold to back it up. After that it went to using the people and everything g on it, into the unlimited future. In short, fed gov has long since spent and promised all wealth in the nation. We’re at the point were as are having trouble borrowing to service the interest only. This is why fedgov that Hoovers up massive amours of money, yet we can’t repair what we built.( think of the McMansions decaying for lack of borrowing to finance repairs. )
Anyway, you wont be sold, it happened before you were born, and e everyone is now born sold. You, me, us, we exist as resources. To be exploited.
I did explain it to him. Was actually surprised he said it.
If the Dems take the House it will happen before the end of January, 2015
Hey, Nachum, just wanted to say thanks for maintaining this list. You flag the stories I’m most interested in.
Keep up the good work.
Thanks.
(great minds think alike)
There are quite a few competing in that description...
No budget. No debt limit. What could possibly go wrong?
>>Obama’s trial balloon? Expect it to happen.<<
Well then, so be it!! The faster this thing breaks, the quicker we can begin putting America back on the correct track.
“Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security, but at confidence in the equity of the existing distribution of wealth. Those to whom the system brings windfalls, beyond their deserts and even beyond their expectations or desires, become ‘profiteers,’ who are the object of the hatred of the bourgeoisie, whom the inflationism has impoverished, not less than of the proletariat. As the inflation proceeds and the real value of the currency fluctuates wildly from month to month, all permanent relations between debtors and creditors, which form the ultimate foundation of capitalism, become so utterly disordered as to be almost meaningless; and the process of wealth-getting degenerates into a gamble and a lottery.”
Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”
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