ATTENTION REPUBLICANS: STOP MISINFORMING PEOPLE ABOUT THE BALANCED BUDGET ISSUE!

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Offline jakobl

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    • The terrorists are NOT who you think they are: Secret Service / `SS` create the terror, to bring in the new world order - 9/11 WAS AN INSIDE JOB - NO TO GLOBAL DICTATORSHIP !
ALL western income taxes = FRAUD, TREASON, ENSLAVEMENT on a global scale !!!

In other words: Since 1913 we have all been lead by FRAUD and TREASON on a slow but accelerating path into paying for our own ENSLAVEMENT on a global scale !!!

This is a fact I think we should all remember to make our tax collectors aware off every time we are in contact with them, either by telling them personally or writing a letter when filing your tax reports.
I WANT THE TRUTH:
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Offline Geolibertarian

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No matter how many times I post the following, it continues to fall on deaf ears:

"Have you ever wondered how everyone -- governments, corporations, small businesses, families -- can all be in debt at the same time and for such astronomical amounts? Have you questioned how there can be that much money out there to lend? Now you know: there isn't. Banks do not lend money; they simply create it from debt....Isn't it astounding that, despite the incredible wealth of resources, innovation and productivity that surrounds us, almost all of us -- from governments to companies to individuals -- are heavily in debt to bankers? If only people would stop and think: 'How can that be? How can it be that the people who actually produce all the real wealth in the world are in debt to those who merely lend out the money that represents the wealth?' Even more amazing is that once we realize that money really is debt, we realize that if there's no debt, there'd be no money. If this is news to you, you are not alone. Most people imagine that if all debts were paid off, the state of the economy would improve. It's certainly true on an individual level. Just as we have more money to spend when our loan payments are finished, we think that if everyone were out of debt, there would be more money to spend in general. But the truth is the exact opposite: there would be no money at all. There it is: we are totally depenedent on continually renewed bank credit for there to be any money in existence. No loans, no money."

"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

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Offline nyc678

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The solution should be in this order:

1. Implement Glass Stiegel
2. Phase OUT the Fed.
3. Build roads and bridges, and increase either solar panels, hydrogen generators, wind turbines to produce electricity.
4. End genetically modified crops, and corn ethanol(phased out as we bring on line electric cars at first, then natural gas cars...
5. End corporate welfare(if all of the above happens, then this is a gimme).
6. Fix not end, Obamacare. We all know what I'm talking about, lessen impact to small businesses, and revoke exemptions to Micky D's.
7. Go to the GOLD standard.
8. Pay off the deficit(what little remains after Glass Stiegel, pay China! They are valuable trading partners for the future.
9. Reduce TSA, and DHS, and fix the FDA and EPA to prevent them from being in the pockets of oil companies, coal companies, pharma, and biotech.
10. LEAD.

Offline Geolibertarian

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"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://webofdebt.com
http://schalkenbach.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

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The Class Politics of the US Debt Ceiling Crisis
« Reply #84 on: July 20, 2011, 01:05:28 pm »
“There’s class warfare, all right, but it's my class, the rich class, that’s making war, and we’re winning.”

-- Warren Buffet, New York Times, November 26, 2006

-----------------------------------

http://www.globalresearch.ca/the-class-politics-of-the-us-debt-ceiling-crisis/25709

The Class Politics of the US Debt Ceiling Crisis

by Patrick Martin
Global Research
July 20, 2011

Official Washington and American media attention will be focused for the next two weeks on the August 2 deadline for raising the federal debt ceiling. Without congressional action to increase the debt limit by that date, according to the Treasury Department, the US government will be unable to borrow money to cover payments, including Social Security checks being sent out to 50 million recipients on August 3, and interest payments on US government bonds due later in the month.

In order to understand the significance of the debt ceiling crisis, and the measures being proposed to resolve it, it is necessary to cut through the lies and distortions of the Democratic and Republican politicians in Washington, reinforced by the commentaries in the corporate-controlled media, both liberal and conservative.

Why is the demand for “deficit reduction” now being voiced so unanimously in every quarter of official American politics? What are the fundamental class issues that underlie this campaign?

The American ruling elite is engaged in the greatest robbery of working people in US history. In the bank bailout of 2008-2009, the financial aristocracy effectively transferred to the federal government its bad debts and losses from a decade of reckless speculation. Now the working class is being compelled to pay the price for Wall Street’s looting of the Treasury through the destruction of Social Security, Medicare, Medicaid and other social programs in education, the environment, transportation and housing.

When they hear Barack Obama, John Boehner and other political and media representatives of big business declare that “there is no money” to sustain vital programs on which tens of millions of working people depend for their survival, workers should think back to the financial crisis that erupted less than three years ago. There was no suggestion then that “there is no money” to save the banks from collapse. On the contrary, staggering and essentially unlimited sums—as much as $23.7 trillion in combined cash, loans and guarantees from the Treasury, Federal Reserve and other institutions—were made available to defend the capitalist system and the financial interests of the super-rich.

There is a strong element of political manipulation in the current conflict over the federal debt ceiling. The congressional Republicans initially sought to use the legislation to raise the debt ceiling—a routine bookkeeping measure carried out dozens of times over the last four decades—to curry favor with ultra-right Tea Party elements. By holding the debt ceiling bill hostage, they would force the Obama administration to carry out deeper cuts, just as they did in April and May by blocking passage of the budget for the 2011 fiscal year.

These calculations were upset, however, when Obama proposed even greater spending cuts than those demanded by the House Republicans, tied to a small increase in taxes on the wealthy. He even proposed to put cuts in Social Security on the table, leading to House Republican complaints that they had been “outflanked” by the White House.

Obama clearly welcomes the element of crisis, injected by the August 2 deadline, to create the political atmosphere in which such massive cuts can be implemented.

In this conflict, the Obama administration represents the spearhead of the US ruling class assault on working people. His proposals for closing a few tax loopholes that benefit corporations and the wealthy were largely regarded by the financial aristocracy as a minor inconvenience that would provide a political cover for the overall budget cutting. The measures were supposedly a demonstration of “shared sacrifice,” as though millionaires paying slightly more for a corporate jet could be equated with an elderly couple compelled to choose between paying rent and paying medical bills, or a student forced to drop out of college for lack of a Pell Grant.

Moreover, the multimillionaires have been assured that any small charges on their wealth incorporated into an eventual deficit-reduction package will be more than recouped in tax reform proposals that will slash overall tax rates on corporations and high-income households.

No one should be under any illusions about the dimensions of the cuts that are being worked out in Washington. The Obama administration’s focus is on implementing changes that will be devastating to the working class. These cuts will plunge millions of working people into conditions of poverty, hunger, disease and premature death.

As far as the ruling class is concerned, this is a once-in-a-lifetime chance to fatally undermine social programs, particularly Social Security, Medicare and Medicaid, which the financial elite regards as an intolerable burden.

[Continued...]

-----------------------------------
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://webofdebt.com
http://schalkenbach.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline donnay

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The message needs to be sent around the country--walk away now, while we can!!!  Allow this debt to default!!
"Logic is an enemy and truth is a menace." ~ Rod Serling
"Cops today are nothing but an armed tax collector" ~ Frank Serpico
"To be normal, to drink Coca-Cola and eat Kentucky Fried Chicken is to be in a conspiracy against yourself."
"People that don't want to make waves sit in stagnant waters."

Offline Geolibertarian

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The message needs to be sent around the country--walk away now, while we can!!!  Allow this debt to default!!

The international bankers agree with you, because the resultant contraction of the money supply would make the money supply contraction that caused the Great Depression look like child's play. This would create the "problem" of an all-out economic collapse, and a consequent surge in Third World-style poverty. In "reaction" to this, tens if not hundreds of millions of desperate people would practically beg the international bankers to institute their "solution" -- a global debt-based slave currency issued by (who else?) the very bankers who engineered this problem in the first place.

As always, the masses insist on playing checkers while ruling-class oligarchs play chess.

I honestly don't know why I even bother anymore.
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://webofdebt.com
http://schalkenbach.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

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"So what are they [the newly-elected Republican reactionaries] gonna do? Well, let's look back [to 1995]. Let's look back to Newt Gingrich [and] Dick Armey....What Newt did was to say: 'We're demanding savage, brutal cuts in Medicare, Medicaid, Social Security. We want to gut unemployment benefits; we want to gut welfare.' -- which still existed at that time (Aid to Families with Dependent Children)....And he attempted to do a coup d'etat from the House of Representatives...So we got to this moment in October/November of 1995. Many people did not believe that this would happen. But what it was, was then that Gingrich essentially issued a kind of ultimatum to Clinton, saying: 'I demand these cuts. And if you don't give me the cuts I want, we won't pass a budget, and we will also prevent the raising of the debt ceiling on the public debt of the United States.' And this then went to a confrontation. This is where we're headed now, and we'll talk about this in the upcoming segment. This is now the grave danger that hangs over the world -- a lunatic ideology which has now been given at least a share of power in Washington....

"So it was 1995. It was Newt Gingrich, speaker of the House, [and] Dick Armey of Texas....They wanted to force the cutting and gutting -- the same agenda -- of the New Deal social safety net....So Gingrich then said: 'If you don't give me want I want, I will block the raising of the debt ceiling.' And the day that he made this announcement, the dollar went down 5% in one day. Now I submit to you: in the current situation of an economic depression and financial depression gripping the world, if you go to this brink, you will not get the dollar going 5% down in one day, you will get 25% down or maybe 50% down in one day. And that will blow up the world. That will pull down the rickety arrangements that we still have in the world that allow the production and sale and transportation of goods and services around the world. It is an action with genocidal implications, especially when you get further down the road to places like Somalia or Bangladesh, and Ecuador and Bolivia, and places like this. Let's just get into this, now.

"In the middle of this crisis [in 1995], Senator Pete Domenici of New Mexico came forward to say that he had been meeting with a group of ten Wall Street insiders. And these look like they were hedge fund operators. One of them was Stanley Druckenmiller, who was, of course, from the Soros group at that time. And these Wall Street insiders had assured Domenici that if it came to a choice between eternal deficit spending and living beyond your means and rising debt, if it came to a choice between that and a default -- the bankruptcy of the United States, something that's never happened in all of history; the United States fails to make a payment -- that the Wall Street people thought that default would be, of course, a bitter pill, it would be unfortunate; but in the long run it would be better.

"Now, here's my premise. I want to stake a firm policy position: Any government official who knowingly courts, promotes or connives to make the United States go into default -- who contributes to the national bankruptcy of the United States -- is guilty of high treason! And there is also a little matter of wars. There's a war in Iraq, there's a war in Afghanistan, there's a war in Pakistan, there's a war probably in Yemen by now. Somalia also seems to be a theater of war. Basically every country around Iran is also a theater of war. If you attempt to bankrupt the United States government and force it into default under those circumstances, it is high treason. The Constitution says the Congress shall have the power to borrow money on the credit of the United States. And if you attempt to sabotage that provision, saying -- 'No, the Congress should not have the power to borrow money on credit of the United States, and we're going to enforce that by extra-legal means; we're going to do it through Moody's, Fitch, and Standard & Poor's, through the debt downgrade and the inability of the U.S. to float a bond issue.' -- then you're violating the Constitution. That's already impeachable right there. So impeachment first, and then the rest.

"Now, the other thing is: it will always be possible to show the conniving. Domenici was lucky. No charges were brought against Domenici. I called attention to this in my journalism at the time. What Domenici had done was to enter into a conspiracy with these hedge fund operators, and essentially say: 'Well, they're telling me that this is what we should do.' Now, did Domenici come forward and say: 'I have examined these hedge fund operators to find out if they have conflicts of interest -- if there's insider trading and conflicts of interest going on because these hedge fund operators are simultaneously shorting the dollar, shorting U.S. Treasury bonds, Treasury securities, and otherwise taking a short interest or short view on the economic prospects of the United States. Are they selling this country short? Are they selling the United States of America down the river?' Domenici never referred to this question. He never said whether he had quizzed them or asked them about possible conflicts of interest, of the kind you can see on CNBC. (When an analyst comes on you can find out whether they own the stock, whether they’ve shorted the stock, or whatever it is.) It will always be possible to show that members of the legislature have been conniving -- once you have subpoena power and you can go after them, which the Justice Department will continue to have -- you will probably be able to show contacts between them and people who are doing the shorting. And I believe you can still find on the Internet: Peter Schiff, the failed reactionary candidate in Connecticut, he says that [the] default of the United States would be a good thing.

"Why do they want it?

"Remember: these are right-wing anarchists. Their theory is to 'starve the beast.' That means, essentially, bankrupt the federal government. Their idea is that if you cannot borrow money, if you destroy the full faith and credit of the United States government and make that into a laughing stock, then the United States government cannot borrow for any reason -- and this, of course, includes war. It's the same story. This is where you get into the little matter of a state of emergency and several wars -- quite a few wars going on now that you didn't have in 1995. But they feel that the response to the inability to borrow will be to force the government to live within the realm of the tax income, the tax revenue. And that will mean, of course, the destruction of Social Security, Medicare, Medicaid, unemployment benefits...and all the other essential programs that make up the tattered remnants of the New Deal safety net. And, again, they will probably say: 'Well, no, we'll do it in such a way so that the defense budget is shielded.' Well, once you have default, you can't borrow for any reason. So they'll say: 'We'll maintain the funds going into the defense budget.' But, of course, once you can't float a bond issue, it's not clear that they'll be enough for that either. So this is a recipe for catastrophe.

"Such an event -- again, in 1995, it was minus 5%...in the dollar in one day -- if it becomes this mudslide, then you have a world catastrophe. Remember, if you read Surviving the Cataclysm...you will see that the nightmare of Paul Adolph Volcker (as long as he was at the Federal Reserve) was that once the dollar began to slide -- and we now have this -- once the dollar began to slide, it might turn into an unstoppable mudslide, as we've seen in the California valleys when it rains too much and the vegetation is not enough, of various places in Latin America -- the whole side of the mountain comes down, and there's no force available to stop it. We now may be very close to this. So we cannot allow a bunch of right-wing anarchists in the Congress to throw their crazy weight around at the expense of the American people, because make no mistake: The national bankruptcy and default of the United States would be catastrophic for the average American working family. It would be a catastrophe.

"And it's very easy to make facile statements about this -- how the U.S. is bankrupt and all this stuff. It's baloney. The U.S. is viable, much more so than Moody's, Fitch, and Standard & Poor's. As a matter of fact, as I've said repeatedly, Moody's, Fitch, and Standard & Poor's ought to be quaking in the criminal dock because of their corruption in 2008, when they were telling you that Lehman Brothers was Triple A and [that] subprime was Triple A until minutes before the bottom fell out of the whole thing, and those poor schmoes who believed them [were] left high-and-dry."

-- Webster Tarpley, World Crisis Radio broadcast, 11/06/10, 1st hour
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://webofdebt.com
http://schalkenbach.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline donnay

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The international bankers agree with you, because the resultant contraction of the money supply would make the money supply contraction that caused the Great Depression look like child's play. This would create the "problem" of an all-out economic collapse, and a consequent surge in Third World-style poverty. In "reaction" to this, tens if not hundreds of millions of desperate people would practically beg the international bankers to institute their "solution" -- a global debt-based slave currency issued by (who else?) the very bankers who engineered this problem in the first place.

As always, the masses insist on playing checkers while ruling-class oligarchs play chess.

I honestly don't know why I even bother anymore.

I hope you are listening to today's show!  I totally disagree with Webster!

We are already in default!!  We are already bankrupt...to flood the world with useless fiat currency is not the answer either.  It is inevitable that things are going to be bad, but to drag out this pain is not going to make things better.
"Logic is an enemy and truth is a menace." ~ Rod Serling
"Cops today are nothing but an armed tax collector" ~ Frank Serpico
"To be normal, to drink Coca-Cola and eat Kentucky Fried Chicken is to be in a conspiracy against yourself."
"People that don't want to make waves sit in stagnant waters."

Offline Geolibertarian

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I hope you are listening to today's show!  I totally disagree with Webster!

Of course you do, because Webster doesn't wrap genocidal austerity in the flag of "liberty."

Quote
We are already in default!!  We are already bankrupt...

So let everything collapse! Pay no attention to those monetary reform measures behind the curtain! Resistance is futile! Just let the entire money supply collapse -- and the economy along with it -- or else the sky will fall and the earth will blow up!  ::)

Quote
to flood the world with useless fiat currency is not the answer either.

No one ever said it was in the first place. The answer, as I've been saying in this forum for years now, is to wipe out all derivatives and institute the sort of debt-free money system advocated by such monetary reformers as Ellen Brown, Richard C. Cook, Byron Dale, Bill Still and Stephen Zarlenga.

But you've invested all your ego and emotion into the presumed infallibility of the deflation-worshipping Austrian School, and so are going to mindlessly parrot their let-the-banker-engineered-depression-"run-its-course"-and-we'll-call-it-a-mere-"correction" propaganda as though it was authored by God himself.

Quote
It is inevitable that things are going to be bad, but to drag out this pain is not going to make things better.

No matter how many times you dutifully parrot this ruling-class lie, the fact remains that none of this is "inevitable."

Resistance to the engineered collapse of our entire economy is NOT futile.

If a critical mass of Americans would simply break out of their conditioned state of learned helplessness, free their minds from the ridiculously narrow confines of both the false Democrat-vs.-Republican paradigm and the equally false Austrian School-vs.-Keynesian School paradigm, and unite across party and ideological lines for the purpose of exerting non-stop, round-the-clock pressure on Congress to implement the monetary reform measures called for here, we could fix this debt-caused economic crisis within a year (if not a month), and could do so without having to allow for a genocidal collapse in living standards in the process.

In other words, it is NOT necessary to burn down the house to roast the pig. But Austrian Schoolers would sooner say 2+2=5 than admit to this. But then that's hardly surprising, in light of who financed that school out of obscurity in the U.S.
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://webofdebt.com
http://schalkenbach.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline donnay

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Of course you do, because Webster doesn't wrap genocidal austerity in the flag of "liberty."

So let everything collapse! Pay no attention to those monetary reform measures behind the curtain! Resistance is futile! Just let the entire money supply collapse -- and the economy along with it -- or else the sky will fall and the earth will blow up!  ::)

No one ever said it was in the first place. The answer, as I've been saying in this forum for years now, is to wipe out all derivatives and institute the sort of debt-free money system advocated by such monetary reformers as Ellen Brown, Richard C. Cook, Byron Dale, Bill Still and Stephen Zarlenga.

But you've invested all your ego and emotion into the presumed infallibility of the deflation-worshipping Austrian School, and so are going to mindlessly parrot their let-the-banker-engineered-depression-"run-its-course"-and-we'll-call-it-a-mere-"correction" propaganda as though it was authored by God himself.

No matter how many times you dutifully parrot this ruling-class lie, the fact remains that none of this is "inevitable."

Resistance to the engineered collapse of our entire economy is NOT futile.

If a critical mass of Americans would simply break out of their conditioned state of learned helplessness, free their minds from the ridiculously narrow confines of both the false Democrat-vs.-Republican paradigm and the equally false Austrian School-vs.-Keynesian School paradigm, and unite across party and ideological lines for the purpose of exerting non-stop, round-the-clock pressure on Congress to implement the monetary reform measures called for here, we could fix this debt-caused economic crisis within a year (if not a month), and could do so without having to allow for a genocidal collapse in living standards in the process.

In other words, it is NOT necessary to burn down the house to roast the pig. But Austrian Schoolers would sooner say 2+2=5 than admit to this. But then that's hardly surprising, in light of who financed that school out of obscurity in the U.S.

Please stop the misleading fallacies about the Austrian Schoolers.

http://forum.prisonplanet.com/index.php?topic=97109.0

"Accountancy is not perfect. The precision of its statements is only illusory. The valuations of goods and rights with which it deals are always based on estimates depending on more or less uncertain and unknown factors."  ~Ludwig von Mises

"The gold standard did not collapse. Governments abolished it in order to pave the way for inflation. The whole grim apparatus of oppression and coercion, policemen, customs guards, penal courts, prisons, in some countries even executioners, had to be put into action in order to destroy the gold standard."  ~Ludwig von Mises

"As there are in the field of social affairs no constant relations between magnitudes, no measurement is possible and economics can never become quantitative." ~Ludwig von Mises

"Inflation is the fiscal complement of statism and arbitrary government. It is a cog in the complex of policies and institutions which gradually lead toward totalitarianism."  ~Ludwig von Mises
"Logic is an enemy and truth is a menace." ~ Rod Serling
"Cops today are nothing but an armed tax collector" ~ Frank Serpico
"To be normal, to drink Coca-Cola and eat Kentucky Fried Chicken is to be in a conspiracy against yourself."
"People that don't want to make waves sit in stagnant waters."

Offline freedom_commonsense

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"The gold standard did not collapse. Governments abolished it in order to pave the way for inflation. The whole grim apparatus of oppression and coercion, policemen, customs guards, penal courts, prisons, in some countries even executioners, had to be put into action in order to destroy the gold standard."  ~Ludwig von Mises

Van Buren (as Treasury secretary) put the gold standard into action some time ago, before Von Mises was around, I suggest you look up the results.

"Inflation is the fiscal complement of statism and arbitrary government. It is a cog in the complex of policies and institutions which gradually lead toward totalitarianism."  ~Ludwig von Mises

Right, because the government is the one increasing rent and speculating on commodities.  ::)

Offline donnay

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Van Buren (as Treasury secretary) put the gold standard into action some time ago, before Von Mises was around, I suggest you look up the results.

Right, because the government is the one increasing rent and speculating on commodities.  ::)

Van Buren favored state controls to encourage sound banking practices, and a paper-money system, and to curtail excessive note issues.  He wasn't in favor of metallic currency and he did not think his party could survive pushing for anti-central bank and metallic currency.

By 1836, the economy was in an inflationary spiral, fueled by an increase in specie and excessive note issues by state banks.  Andrew Jackson's Treasury Department could not regulate this expansion without assuming the powers he had recently stripped from the Bank of the United States, headed up by Nicholas Biddle. Andrew Jackson despised a central bank.

By July 1836, Jackson issued a Specie Circular requiring people to purchase land with hard money with gold and silver.

By 1837 an economic panic set in, businesses and banks failed, homes were lost, land was foreclosed on. Within those five years the country went into a deep depression because the flood of paper notes which caused hyperinflation (of course hyperinflation was not a term used back then).  It wasn't until sometime in 1842 when the economy began to turn around.  Because of those five years the country went into the first deep depression.

During this depression Van Buren devoted much of his effort to maintain the solvency of the national Government.  The problem with all of this is; why did Congress abdicate their powers to the President and the Secretary of Treasury, as per Article One Sect. 8 and 10?

(...)

To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures;

To provide for the punishment of counterfeiting the securities and current coin of the United States;

(...)

Sect. 10

No state shall enter into any treaty, alliance, or confederation; grant letters of marque and reprisal; coin money; emit bills of credit; make anything but gold and silver coin a tender in payment of debts; pass any bill of attainder, ex post facto law, or law impairing the obligation of contracts, or grant any title of nobility.

(...)

Right, because the government is the one increasing rent and speculating on commodities.  ::)

No what government does by enforcing rent controls is simply not allowing someone who has bought that property to make a profit.  Then government comes in and extorts money from that property to make a profit.

They do not have to speculate on Commodities because they control them as well.

Of course I advocate limited government...and a truly free market capitalism.  We have neither nor have we ever had a truly free market in our lifetime.
"Logic is an enemy and truth is a menace." ~ Rod Serling
"Cops today are nothing but an armed tax collector" ~ Frank Serpico
"To be normal, to drink Coca-Cola and eat Kentucky Fried Chicken is to be in a conspiracy against yourself."
"People that don't want to make waves sit in stagnant waters."

Offline Geolibertarian

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Obama returns to the fraud of “equal sacrifice”
« Reply #93 on: July 28, 2011, 03:04:40 pm »
http://www.globalresearch.ca/index.php?context=va&aid=25805

Obama returns to the fraud of “equal sacrifice”

by Patrick Martin
Global Research
July 28, 2011

The back-to-back nationally televised speeches delivered Monday night by President Barack Obama and House Speaker John Boehner were a political fraud on every level. The so-called debate in Washington on the federal deficit is rigged in advance. All of the participants take as their first principle the imposition of massive cuts on programs that benefit working people.

The Democratic administration and the congressional Republicans are using an orchestrated crisis over the raising of the federal debt ceiling to create the conditions for an unprecedented attack on the living standards and social rights of working people.

The two parties do not represent the American people, but rather the American financial aristocracy, whose wealth and income they defend at the expense of the broad masses. They will see basic social programs on which they rely—Medicare, Medicaid, Social Security, food stamps—devastated by spending cuts.

Obama delivered a cynical speech whose purpose was to appeal to the American people to support spending cuts that will drive millions of them into poverty while leaving the gargantuan wealth of the financial aristocracy untouched. Virtually every sentence in his 15-minute address was a lie.

Obama described the two sides in the debate in terms that underscore the essential unity of the two big business parties. He noted that both sides “agree on the amount of deficit reduction” but disagree on what form that should take.

One approach, he said, was based on painful cuts in federal spending, including basic programs like Medicare, but asked the wealthy and the corporations “to give a little.” This he described as a “balanced approach.” His opponents, Obama continued, “insist on a cuts-only approach,” with “nothing from the wealthy.”

In order to conceal the dimensions of the cuts endorsed by both sides, Obama was careful to give no figures. Both the White House and the congressional Republicans have proposed cuts as high as $4 trillion over the next ten years, including devastating attacks on Medicare, Medicaid, Social Security, food stamps and federal programs supporting education, transportation, housing, environmental protection and consumer and worker safety and health.

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://webofdebt.com
http://schalkenbach.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline freedom_commonsense

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No what government does by enforcing rent controls is simply not allowing someone who has bought that property to make a profit.  Then government comes in and extorts money from that property to make a profit.

There would be no demand for rent controls if they weren't so high in the first place. They don't exist here by the way, and surprise surprise my biggest expense is rent (taxes don't really figure in at my income level).

They do not have to speculate on Commodities because they control them as well.

Sure, and Fort Knox is still full of gold. Right.  ::)

No, bankers and other financial players speculate to get even more wealthy than they already are.

Offline donnay

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There would be no demand for rent controls if they weren't so high in the first place. They don't exist here by the way, and surprise surprise my biggest expense is rent (taxes don't really figure in at my income level).

In a truly free market there would be competition.  Let's say, Trump tower's condos were too costly to live in, and you find out that Frump tower's condos the next block over were a fraction of the price and has almost the same amenities--how long do you think Trump Tower's would stay in business?

I know people who live in the UK that cannot even, as much as, put a picture on the wall in their flat, because they cannot have holes in the walls, and they get inspections about every six months from their landlord.  House inspections!  At least right now we have a 4th amendment protection a landlord cannot simply inspect a tenants house just because they want to. 

Sure, and Fort Knox is still full of gold. Right.  ::)

No, bankers and other financial players speculate to get even more wealthy than they already are.

Fort Knox is probably empty because they emptied it.

Government helps the bankers let's not forget.  Just like the put-options before 9/11, eh?

"Logic is an enemy and truth is a menace." ~ Rod Serling
"Cops today are nothing but an armed tax collector" ~ Frank Serpico
"To be normal, to drink Coca-Cola and eat Kentucky Fried Chicken is to be in a conspiracy against yourself."
"People that don't want to make waves sit in stagnant waters."

Offline Geolibertarian

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http://www.prisonplanet.com/mr-tea-party-wants-a-balanced-budget-amendment.html

Mr. Tea Party Wants a Balanced Budget Amendment

Kurt Nimmo
Infowars.com
July 31, 2011

Sen. Jim DeMint of South Carolina calls himself Mr. Tea Party. He is calling for a constitutional amendment requiring a balanced budget.

Both Democrats and Republicans find DeMint’s solution to the debt perplexing and dangerous. He would let the government run out of money on August 2.

       http://www.youtube.com/watch?v=YcXqA0tPaAk

The establishment Tea Party DeMint supposedly heads up – now that Sarah Palin is busy making reality television shows – is pushing the “Cut, Cap, Balance Pledge” that opposes any debt limit increase.

You’d think the Tea Party would oppose raising taxes, but the pledge declares that Congress can do this if it gets a “super-majority.” In the Senate, that’s a three-fifths majority. Getting this should be a piece of cake, especially if the president gets up and reads a teleprompter screen declaring some sort of threat against American freedom lovers, like Bush did in 2001.

The hijacked and rebranded Tea Party is not opposed to taxes. They just want to make it more difficult for the government to steal your hard-earned money.

They have sacred cows when it comes to cutting the budget. “I am very, very strongly opposed to DoD cuts,” said Tea Party Nation founder Judson Phillips in February. “DoD has been cut far too much and we have a dangerous world out there.”

Tea Party Nation is the neocon version of libertarianism. It is aligned with the American Enterprise Institute, the folks who brought us the Iraq “war” and a million plus dead Iraqis. Incidentally, Mr. Tea Party voted to invade Iraq.

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://webofdebt.com
http://schalkenbach.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

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The Market Has Spoken: Austerity Is Bad For Business
« Reply #97 on: August 08, 2011, 11:38:08 am »
THE MARKET HAS SPOKEN: AUSTERITY IS BAD FOR BUSINESS

Ellen Brown
August 6, 2011
www.webofdebt.com/articles/market_spoken.php

It used to be that when the Fed Chairman spoke, the market listened; but the Chairman has lost his mystique. Now when the market speaks, politicians listen. Hopefully they heard what the market just said: government cutbacks are bad for business. The government needs to spend more, not less. Fortunately, there are viable ways to do this while still balancing the budget.

On Thursday, August 4, the Dow Jones Industrial Average fell 512 points, the biggest stock market drop since the collapse of September 2008. Why? Weren’t the markets supposed to rebound after the debt ceiling agreement was reached on Monday, avoiding U.S. default and a downgrade of U.S. debt? So we were told, but the market apparently understands what politicians don’t: the debt deal is a death deal for the economy. Reducing government spending by $2.2 trillion over a decade, as Congress just agreed to do, will kill any hopes of economic recovery. We’re looking at a double-dip recession.

The figure is actually more than $2.2 trillion. As Jack Rasmus pointed out on Truthout on August 4th:

    Economists estimate the "multiplier" from government spending at about 1.5. That means for every $1 cut in government spending, about $1.5 dollars are taken out of the economy. The first year of cuts are therefore $375 billion to $400 billion in terms of their economic effect. Ironically, that's about equal to the spending increase from Obama's 2009 initial stimulus package. In other words, we are about to extract from the economy - now showing multiple signs of weakening badly - the original spending stimulus of 2009!

    As others have pointed out, that magnitude of spending contraction will result in 1.5 million to 2 million more jobs lost. That's also about all the jobs created since the trough of the recession in June 2009. In other words, the job market will be thrown back two years as well.

We’re not moving forward. We’re moving backward. The hand-wringing is all about the “debt crisis,” but the national debt is not what has stalled the economy, and the crisis was not created by Social Security or Medicare, which are being set up to take the fall. It was created by Wall Street, which has squeezed trillions in bailout money from the government and the taxpayers; and by the military, which has squeezed trillions more for an amorphous and unending “War on Terror.” But the hits are slated to fall on the so-called “entitlements” – a social safety net that we the people are actually entitled to, because we paid for them with taxes.

The Problem Is Not Debt But a Shrinking Money Supply

The markets are not reacting to a “debt crisis.” They do not look at charts ten years out. They look at present indicators of jobs and sales, which have turned persistently negative. Jobs and sales are both dependent on “demand,” which means getting money into the pockets of consumers; and the money supply today has shrunk.

We don’t see this shrinkage because it is primarily in the “shadow banking system,” the thing that collapsed in 2008. The shadow banking system used to be reflected in M3, but the Fed no longer reports it. In July 2010, however, the New York Fed posted on its website a staff report titled “Shadow Banking.” It said that the shadow banking system had shrunk by $5 trillion since its peak in March 2008, when it was valued at about $20 trillion – actually larger than the traditional banking system. In July 2010, the shadow system was down to about $15 trillion, compared to $13 trillion for the traditional banking system.

Only about $2 trillion of this shrinkage has been replaced with the Fed’s quantitative easing programs, leaving a $3 trillion hole to be filled; and only the government is in a position to fill it. We have been sold the idea that there is a “debt crisis” when there is really a liquidity crisis. Paying down the federal debt when money is already scarce just makes matters worse. Historically, when the deficit has been reduced, the money supply has been reduced along with it, throwing the economy into recession.

Most of our money now comes into the world as debt, which is created on the books of banks and lent into the economy. If there were no debt, there would be no money to run the economy; and today, private debt has collapsed. Encouraged by Fed policy, banks have tightened up lending and are sitting on their money, shrinking the circulating money supply and the economy.

Creative Ways to Balance the Budget

The federal debt has not been paid off since the days of Andrew Jackson, and it does not need to be paid off. It is just rolled over from year to year. The only real danger posed by a growing federal debt is the interest burden, but that has not been a problem yet. The Congressional Budget Office reported in December 2010:

    (A) sharp drop in interest rates has held down the amount of interest that the government pays on (the national) debt. In 2010, net interest outlays totaled $197 billion, or 1.4 percent of GDP--a smaller share of GDP than they accounted for during most of the past decade.

The interest burden will increase if the federal debt continues to grow, but that problem can be solved by mandating the Federal Reserve to buy the government’s debt. The Fed rebates its profits to the government after deducting its costs, making the money nearly interest-free. The Fed is already doing this with its quantitative easing programs and now holds nearly $1.7 trillion in federal securities.

If Congress must maintain its debt ceiling, there are other ways to balance the budget and avoid a growing debt. Ron Paul has brought a creative bill that would eliminate the $1.7 trillion deficit simply by having the Fed tear up its federal securities. No creditors would be harmed, since the money was generated with a computer keystroke in the first place. The government would just be canceling a debt to itself and saving the interest.

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://webofdebt.com
http://schalkenbach.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

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Military Spending Is Destroying the US Economy, Boosting the Production of WMDs
« Reply #98 on: December 28, 2013, 07:21:37 pm »
http://www.globalresearch.ca/war-is-good-for-business-military-spending-is-destroying-the-us-economy-boosting-the-production-of-weapons-of-mass-destruction/5362755

“War is Good for Business”: Military Spending Is Destroying the US Economy, Boosting the Production of Weapons of Mass Destruction

Passage of Budget Bill Is not a Victory for the American People … Only for the Military-Industrial Complex

By Washington's Blog
Global Research, December 27, 2013



D.C. and the mainstream media are trumpeting the passage of a budget bill as a victory for bipartisanship and the American people. But the truth is very different.

We’ve repeatedly documented that military waste and fraud are the core problems with the U.S. economy.

For example, we’ve noted that we wouldn’t be in a budget crisis in the first place if we hadn’t spent so much money on unnecessary wars … which are killing our economy.

But it goes far beyond actual fighting.  We could easily slash the military and security budget without reducing our national security.

For example, homeland security agencies wasted money on seminars like “Did Jesus Die for Klingons Too?” and training for a “zombie apocalypse” instead of actually focusing on anti-terror efforts.

Republican Senator Tom Coburn notes that the Department of Defense can reduce $67.9 billion over 10 years by eliminating the non-defense programs that have found their way into the budget for the Department of Defense.

BusinessWeek and Bloomberg point out that we could slash military spending without harming our national security. Indeed, we could slash boondoggles that even the generals don’t want.

BusinessWeek provides a list of cost-cutting measures which will not undermine national security. American Conservative does the same.

Moreover, we’ve shown that the military wastes and “loses” (cough) trillions of dollars.

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://webofdebt.com
http://schalkenbach.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Black_Sunlite

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Yeah, I love this one too Geolibertarian (what I've read so far anyway... damn, where's a "thumbs-up smiley" when you need one).
"A fisherman putting a worm on a hook doesn't make him a friend to the fish." ― El-Hajj Malik El-Shabazz aka Malcolm X

Offline Geolibertarian

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The Case of the Missing Military-Industrial-Complex Money
« Reply #100 on: February 21, 2014, 11:22:30 am »
Ever notice how Republican reactionaries (whether of the mainline or tea-party variety) remain consistently and revealingly silent about the trillions being wasted on the war budget, but then expect not to be seen as disingenuous and hypocritical when they wax alarmist about how we supposedly can't "afford" the comparative crumbs being spent on food stamps and extended unemployment benefits? I know it's fashionable among their hyperpartisan support base to willfully ignore this blatant double standard and inexcusable inversion of spending priorities. But if the "conseratives" and right-leaning "libertarians" who compose that support base think that swing voters are equally blind in that regard, they may be in for yet another rude awakening in the upcoming mid-term elections. Remember where you heard it first.

http://www.globalresearch.ca/the-case-of-the-missing-military-industrial-complex-money/5369658

The Case of the Missing Military-Industrial-Complex Money

By James Hall
Global Research
February 19, 2014



When Major General Smedley Butler made his case, “War is a Racket” he did not pull any punches…

“The normal profits of a business concern in the United States are six, eight, ten, and sometimes twelve percent. But war-time profits – ah! That is another matter – twenty, sixty, one hundred, three hundred, and even eighteen hundred per cent – the sky is the limit. All that traffic will bear. Uncle Sam has the money. Let’s get it.”

The business of military procurement has multiplied since his fateful revelations.

Not satisfied with fair profits or feasible competition, the practices of the defense corporatists illustrate one aspect of waste, graft and systemic bribery. William D. Hartung describes the consolidation and expanse of a select group of companies in the paper, The Military-Industrial Complex Revisited: Shifting Patterns of Military Contracting in the Post-9/11 Period

“Many of the same companies that benefited from increased Pentagon and war spending were top contractors for other security related agencies. For example, Lockheed Martin was not only the top contractor for the Pentagon, but it also ranked number one at the Department of Energy; number eight at the Department of Homeland Security (Boeing was number one); number two at the State Department; and number three at the National Aeronautics and Space Administration (NASA). Contracts let by these agencies were only a fraction of the levels awarded by the Pentagon, but they were significant nonetheless. For example, the Department of Homeland Security issued $13.4 billion in contracts in FY2008, NASA $15.9 billion, the State Department $5.5 billion, and the Department of Energy $24.6 billion.”


DONALD RUMSFELD: On Sept 10, 2001, he admitted, ‘There is
a $2 trillion hole in the Pentagon’s accounting”.


This dramatic growth in budgets is even more significant, when viewed in the context of world expenditures of other counties. Leaving aside the relative merits of the dangers and risk of external threats, the gigantic enterprise of fostering the biggest military apparatus in history has made select factions rich at the expense of the many.

Jonathan Turley in Pentagon Plugs: New Study Finds Pentagon Has Hidden Trillions In Missing Money And Equipment, references an example on how the overall avoidance of financial accountability, outright fraud and intentional concealment operates.

    “A new report has detailed how the military has cooked the books to hide trillions, that’s right trillions, in missing money and equipment. The military calls them 'plugs,' a curious term for fraud. These are knowingly fake figures used to hide the fact that there is no accurate record of the money.

    "The plugs are generally the work of the office of the Defense Finance and Accounting Service, the Pentagon’s main accounting agency. Required to complete an audit, the staff simply faked the numbers.”

Reuter’s reports on a Special Report: The Pentagon’s doctored ledgers conceal epic waste.

    “Over the past 10 years, the Defense Department has signed contracts for the provision of more than $3 trillion in goods and services. How much of that money is wasted in overpayments to contractors, or was never spent and never remitted to the Treasury, is a mystery. That’s because of a massive backlog of “closeouts” – audits meant to ensure that a contract was fulfilled and the money ended up in the right place.”

Now trillions are sums that are unimaginable The Department of the Treasury acknowledges that U.S. gold reserves (if you believe their figures) total $11,041,059,958.16 as of their Current Report: January 31, 2014.

An eleven billion dollars equivalent is a mere drop in the bucket to the monies allocated to the military and homeland security. Taxpayers are regularly deceived about the costs. Congress is kept in the dark about black programs. And the war racket keeps funneling and siphoning off unknown sums to accounts that only a super computer can track.

Corporatocracy: How the Corporate Welfare State Divides and Conquers is a video by journalist James Corbett (below) that provides an insightful analysis which establishes a surreal account how the oligarchy operates. The financial shenanigans of corporatists contribute to the interlocking directorates, which run the money pit that keeps the empire operating.

A rational reform of a depraved money laundering arrangement is impossible without a fundamental repudiation of the internationalist foreign policy doctrines that permeates the State Department. Funding advance technological warfare platforms that are unheard of to even congressional oversight is profoundly unconstitutional.

When such practices become routine, the economic incentives breed crooked abuses. The obligations for responsible public policy are methodically destroyed, when transparency is eliminated.

The Washington Blog provides several useful sources that document the extent of the problem in “$8.5 TRILLION In Taxpayer Money Doled Out By Congress To The Pentagon Since 1996 … Has NEVER Been Accounted For” and sums up with a bleak assessment.

    “The Pentagon is the only federal agency that has not complied with a law that requires annual audits of all government departments. That means that the $8.5 trillion in taxpayer money doled out by Congress to the Pentagon since 1996, the first year it was supposed to be audited, has never been accounted for. That sum exceeds the value of China’s economic output last year.”

Evidently, the elites that benefit from bilking appropriations and the board members that steer the defense contractors want the con to continue. For all the money directed towards maintaining the war machine, our actual security become less secure.

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://webofdebt.com
http://schalkenbach.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geniocrat

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...and the globalist corporatocracy rides on....    >:(