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Post by Sir John on Jan 1, 2013 0:25:24 GMT -5
cw,
#27/28/29 are all very logical, but I really doubt that almost any of them are 'doable'.
They will only become 'doable' when the whole mess has become obvious to every family in the USA, and around the world. When the kids are starving and the parents are without hope.
THEN you may get human beings with enough guts to do what has to be done to clean up the mess and start again, which is what MUST happen. Socialism will NOT do it! That is what got us here.
A new currency, national or international, and backed by gold and silver ( and maybe oil) is the best start. All or most on your list are needed also and maybe only a dictator can make them happen. I doubt a pollie wanting re-election can.
The year or three prior to that situation happening will be as many now say, "hellish".
JMO
SJ
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Post by Swampy on Jan 1, 2013 0:25:36 GMT -5
Financial markets should NOT be allowed to fail - if that had happened in 2007/8, we would have been in a serious depression now.
I agree with what you said about spreading the message of liberty, though.
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Post by Sir John on Jan 1, 2013 0:34:46 GMT -5
In my humble opinion, 'the powers that be' have looked at the current situation and made the firm decision that an overnight 'Crash' will not be allowed to happen, but the nations of the world will simply print the dollars etc to buy the Bonds to provide the money to keep the thing going.
That of course will create HYPERinflation and make the Bonds virtually worthless. The Bond holders will be BROKE! The almost immediate result will be the worlds middle class will be in poverty and starving.
Germany 1923 will be the scene around the world. World wide social disruption, and worse, will ensure.
Happy New Year!
SJ
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Post by Deleted on Jan 1, 2013 9:27:37 GMT -5
How? 1. Spread the message of liberty... 2. Remove the superfluous laws on legal tender and return constitutional coin to act alongside with fiat money. 3. End the fractional reserve policy. 4. Stop the borrowing. 5. Bring the troops home 6. End agriculture subsidies and price fixing on crops. 7. Set up real philanthropy with a program(Homestead Act) for freeing up land, allow charities, farmers and ranchers to donate homes, seed & livestock to the homeless so they may build small farming communities.(voluntarily) 8. Remove our troops from the Middle East. 9. Phase out forced welfare system 10. Allow the economy to drive itself on resource output, surplus and savings. 11. Begin phasing out government welfare systems. 12. Amend the constitution to define "provide, promote" and put forth rules to negate use of "Necessary and Proper" for plundering citizens. 13. Repeal the War Powers Act and the War Powers Resolution, return to intended military to which the states controlled the militia and appoint those officers, 2 year tax appropriation, declaration of war. 14. Amend the constitution to clearly define "indentured servitude". 15. Amend the constitution to clearly state that the prescription of law is force and such force may only be used in the defense of life, liberty and property of the people. No persons or groups are entitled to emolument or privileges at the expense of others by misuse of the law. Now THATS more like it! While I disagree with several and others are still platitudes, I like many of them and respect you for stating precisely (in some cases) what you recommend.
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Post by cwood14 on Jan 4, 2013 12:34:43 GMT -5
What platitudes? Precisely?
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Post by Deleted on Jan 4, 2013 13:38:17 GMT -5
What platitudes? Precisely? The "precisely" coming from you is priceless!
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Post by cwood14 on Jan 9, 2013 10:52:31 GMT -5
Are you illiterate? You said, "platitudes", spare me your broad strokes of horse shit and make your debate - "precisely".
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Post by Deleted on Jan 9, 2013 11:33:59 GMT -5
Just go away, find another forum and enjoy yourself with them. I won't miss you nor will you miss me.
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Post by boxcar on Jan 9, 2013 15:37:23 GMT -5
Denny has asked just how we are to extract ourselves from this financial mess.
Without going into platitudes, I suggest we sit down and write a budget and then try to live within that budget…..Any chance of this happening? Not for the last 1400 days. The Democrats will not consider a budget, as it would restrain their spending.
Solution….get rid of the Democrat? Well, I’m all for that. Problem solved, Next case?
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Post by boxcar on Jan 9, 2013 17:17:20 GMT -5
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Post by Deleted on Jan 9, 2013 17:25:34 GMT -5
Denny has asked just how we are to extract ourselves from this financial mess. Without going into platitudes, I suggest we sit down and write a budget and then try to live within that budget…..Any chance of this happening? Not for the last 1400 days. The Democrats will not consider a budget, as it would restrain their spending. Solution….get rid of the Democrat? Well, I’m all for that. Problem solved, Next case? it would be nice, wouldn't it? But I agree it won't happen.
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Post by Sir John on Jan 9, 2013 18:02:52 GMT -5
The difference between US Budget income and expenditure now is about US$1.2 trillion a year.
Currently that is borrowed and added to the national debt by way of Treasury Bonds. few are interested in buying those Bonds, so most are bought by the FED, and the Social Security Trust Fund.
To reverse that situation they can try and take $600 billion off expenditure AND add $600 billion onto income, or some variation of that. That will be a VERY clever and painful trick! It means BIG cuts to pensions and defence and so on. And BIG tax increases. In my view, IMPOSSIBLE.
IMHO there is no pollie on this planet with the balls to do it. So the present US$16 trillion will grow at $1.2 trillion+ a year until the music stops. It will NOT be paid back anytime soon, or ever, in real Dollars.
As all of Congress, and Treasury, and the FED know, there is only ONE way to 'solve' this debt problem and that is to inflate it away and repay the Bonds with worthless USDs. They will be worthless to the PRC government, and the Japan Government, OPEC, AND the US Social Security Trust Fund. (and also the Reserve Bank of Australia!!!! - 27 billion) .
The 'printing' of the Trillion a year by the FED will buy the Bonds, and inflate the currency all at once, and in due course, destroy the middle class.
Happy New Year!
SJ
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Post by Deleted on Jan 9, 2013 19:13:12 GMT -5
To further my total lack of anything financial, how did the Russians handle the problem when they went belly up? Did they just say oops we don't have the money to pay our debts or what? How did they emerge from that situation?
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Post by Sir John on Jan 9, 2013 19:26:12 GMT -5
Denny,
Not certain, but the numbers were a LOT less that US$16 trillion. I am sure that the lenders could have written of such an amount without too much trouble. I shall try and find out more.
I did read 20 years ago or so that the Russians have NEVER actually repaid a Sovereign Bond. All the way back to 1917. Rolled them over of course, but never actually paid them back. I cannot vouch for the accuracy of that claim.
SJ
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Post by Sir John on Jan 9, 2013 21:21:51 GMT -5
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