US National Debt 😓
Forums › General Discussion › US National Debt 😓-
Dino Marchetti wrote:
Fractional reserve banking predates the fed by more than 200 years. The Fractional reserve system(loaning out more than you have while only keeping a fraction in reserve) gets thrown under the bus unrightfully. The key to the system is which fraction are you going to reserve. The problem comes with fiat currency. When you ar using bullion as a currency you have to be careful how much you reserve and how much you lend out. The banker takes on a risk and is rightfully paid for his risk with interest. With fiat(fake) currency that can be printed, the banker takes a minuscule risk as he can keep hardly any reserve(often 9% today). If he messed up and depositors call for asset return, the banker can just order more currency printed or in today's world, just add a zero to a digitized account. -
"give me control of a nation's money and I care not who makes the laws"-m.a. Rothschild
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Do you guys know that the federal reserve is just as federal as federal express, bank of America, or us bank? Since it has never been audited we have no idea what, if any, reserve it has.
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If it is best to have a "national bank", Why do you think that the federal reserve is our country's third in 230 years? Do you guys know who owns the federal reserve?
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Wait.......we're in debt! WTH??
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http://www.publications.parliament.uk/pa/ld201212/ldhansrd/text/120216-0002.htm#12021643000172
An interesting read. Is there truth to it? Idk. Anonymous tweeted this yesterday.
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You guys better get your income in gold or silver.
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Hey!
I know the solution!
Maybe we can get someone to print more money and borrow it from other contries to pay it off! -
🔱Major Failure🔱 wrote:
The solution is to audit, limit, and reign in the federal reserve while drastically reducing waste across all levels of government. We need to gradually ween people off the government doles while making it easier for young Americans to opt out of insolvent social programs. We need to reduce taxes and unnecessary regulations while enforcing bankruptcy laws. We need to rechallenge the citizens united decision and rethink how corporate money and politics relate. In addition to this, we need to renew a commitment to sound currency. Do this and we have a shot.Hey!
I know the solution!
Maybe we can get someone to print more money and borrow it from other contries to pay it off! -
shin-soo choo wrote:
I was being sarcastic.🔱Major Failure🔱 wrote:
The solution is to audit, limit, and reign in the federal reserve while drastically reducing waste across all levels of government. We need to gradually ween people off the government doles while making it easier for young Americans to opt out of insolvent social programs. We need to reduce taxes and unnecessary regulations while enforcing bankruptcy laws. We need to rechallenge the citizens united decision and rethink how corporate money and politics relate. In addition to this, we need to renew a commitment to sound currency. Do this and we have a shot.Hey!
I know the solution!
Maybe we can get someone to print more money and borrow it from other contries to pay it off! -
Wow. All the arguments lol.
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One of the easiest/fastest ways we can get rid of debt is by raising taxes. Funny thing is that the people who want to get rid of the debt also wants to lower taxes...
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nadarrah wrote:
Yeah if taxes are lower, how will we ever get out of the trillions of debt we own.One of the easiest/fastest ways we can get rid of debt is by raising taxes. Funny thing is that the people who want to get rid of the debt also wants to lower taxes...
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☣Golden Dino☣ wrote:
We paid off 13 trillion last time. Debt isn't as bad of a thing as you thinkThe National debt for the US is now just over 15 trillion dollars. Wow. Do you guys ever think the debt for the US will ever be paid off? I don't.
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nadarrah wrote:
The people who want to get rid of the debt want to reduce taxes AND cut spending.One of the easiest/fastest ways we can get rid of debt is by raising taxes. Funny thing is that the people who want to get rid of the debt also wants to lower taxes...
The fallacy you are regurgitating fails to reflect the laffer curve. We do not need higher taxes when we have a spending problem. Ever heard the expression, "it's like giving an alcoholic the key to the liquor cabinet"?
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Ask the British how there new 50% tax rate on top earners is working?
Please research this. Are you ready for it.....
They brought in LESS revenue.
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DRAMABOT 5000 wrote:
WTF are you talking about? At the end of ww2(when it was it's highest up to that point of time) our debt was approx 275 billion.☣Golden Dino☣ wrote:
We paid off 13 trillion last time. Debt isn't as bad of a thing as you thinkThe National debt for the US is now just over 15 trillion dollars. Wow. Do you guys ever think the debt for the US will ever be paid off? I don't.
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Our money isnt worth jack shit anymore
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shin-soo choo wrote:
National debt is 15 trillion. US total debt is 50 trillion. Idk what the difference is.DRAMABOT 5000 wrote:
WTF are you talking about? At the end of ww2(when it was it's highest up to that point of time) our debt was approx 275 billion.☣Golden Dino☣ wrote:
We paid off 13 trillion last time. Debt isn't as bad of a thing as you thinkThe National debt for the US is now just over 15 trillion dollars. Wow. Do you guys ever think the debt for the US will ever be paid off? I don't.
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Donnie Blingo wrote:
+1Our money isnt worth jack shit anymore
I will add that you ain't seen nothin yet! -
shin-soo choo wrote:
The 50% tax is working great! 👍👍👍👍👍👍👍 /sarcasmAsk the British how there new 50% tax rate on top earners is working?
Please research this. Are you ready for it.....
They brought in LESS revenue.
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If they I attack then you know we ain't paying shit lol
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☣Golden Dino☣ wrote:
That latter number includes private debt, like that you or me might hold or a company like apple might hold.shin-soo choo wrote:
National debt is 15 trillion. US total debt is 50 trillion. Idk what the difference is.DRAMABOT 5000 wrote:
WTF are you talking about? At the end of ww2(when it was it's highest up to that point of time) our debt was approx 275 billion.☣Golden Dino☣ wrote:
We paid off 13 trillion last time. Debt isn't as bad of a thing as you thinkThe National debt for the US is now just over 15 trillion dollars. Wow. Do you guys ever think the debt for the US will ever be paid off? I don't.
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shin-soo choo wrote:
Ohhh ok. That's still a lot..☣Golden Dino☣ wrote:
That latter number includes private debt, like that you or me might hold or a company like apple might hold.shin-soo choo wrote:
National debt is 15 trillion. US total debt is 50 trillion. Idk what the difference is.DRAMABOT 5000 wrote:
WTF are you talking about? At the end of ww2(when it was it's highest up to that point of time) our debt was approx 275 billion.☣Golden Dino☣ wrote:
We paid off 13 trillion last time. Debt isn't as bad of a thing as you thinkThe National debt for the US is now just over 15 trillion dollars. Wow. Do you guys ever think the debt for the US will ever be paid off? I don't.
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shin-soo choo wrote:
I wasn't saying that taxes was the only way. And those spending problems will stop once people realize that they can't afford the basic necessities. Our government hasn't done much to help people with spending problems.nadarrah wrote:
The people who want to get rid of the debt want to reduce taxes AND cut spending.One of the easiest/fastest ways we can get rid of debt is by raising taxes. Funny thing is that the people who want to get rid of the debt also wants to lower taxes...
The fallacy you are regurgitating fails to reflect the laffer curve. We do not need higher taxes when we have a spending problem. Ever heard the expression, "it's like giving an alcoholic the key to the liquor cabinet"?
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shin-soo choo wrote:
Money is a figment of your imagination. It's worth no more than a piece of paper with a face on it. We think it's of great value but it's not. We could completely change our currency if we stopped believing that the dollar is worth something. Of course if we do that the world is essentially fucked cuz that's the global currencyDonnie Blingo wrote:
+1Our money isnt worth jack shit anymore
I will add that you ain't seen nothin yet! -
nadarrah wrote:
It's not people with spending problems thats the problem. it's the government's spending problems. There are consequences if we have spending problems as individuals. Our government has yet to have any consequences because the federal reserve keeps facilitating the spending by artificially suppressing the cost of money! Basically can just spend and spend and spend because the fed makes it easy for them to do so.shin-soo choo wrote:
I wasn't saying that taxes was the only way. And those spending problems will stop once people realize that they can't afford the basic necessities. Our government hasn't done much to help people with spending problems.nadarrah wrote:
The people who want to get rid of the debt want to reduce taxes AND cut spending...
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shin-soo choo wrote:
The original role of bankers was not to lend money. That was the role of money lenders. Fractional Warehousing is illegal in every industry except banking.Dino Marchetti wrote:
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Oh sweet. A good thread. Green man is righ on a lot of stuff. The economy will collapse, it won't be all at once but a domino effect. Like our planet, we cannot sustain any economy forever. It rises then falls, so on an so forth. Until it gets to big to continue and it crash's. To only start over again. :( horrible cycle we lower class citizens (99.99999999% of the human population) are stuck in. The others make money no matter what. But they allowed our side to grow to large. We can and will fight for our lives when the time comes. You may not all agree, but that's because you are still asleep. Don't worry, you will wake soon :)
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shin-soo choo wrote:
Revenues are down due to sluggish growth, and very high unemployment. Not a 10% increase in income tax for the very high earners (from the 40% higher tax rate, previously levied).Ask the British how there new 50% tax rate on top earners is working?
Please research this. Are you ready for it.....
They brought in LESS revenue.
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