https://www.youtube.com/watch?v=HHcmqWvbRMU
I also found this in the comments section. NOTE: I don't agree with his comments about a coming "revolution", but I think he'd very accurate about our debt situation:
"The problem with debt, if you understand it fully is that all debt creates interest due, which is in fact debt that was never created. so essentially overtime and compounding interest rates the ammount owed in interest will always be more than the artificially created currency debt. I'll keep them example simple. If upon the creation of the debt, only 1000 dollars was loaned, that would be the only $1,000 in existence. However even given a modest signiture loan at 10% you would owe back $1,100 dollars. So you've used all the loan, got it back and taken it to the Ponzeem scheme known as the Federal Reserve and gave back every dollar created, all $1,000 of them, you would default on $100 all owing them to seize real and tangible property for the fiction that was never created. do that to the trillions, and you'll see why America will never be free so long as we are debt slaves to the central banks. It doesn't take a brain surgeon to understand, you can't owe more back than ever existed and someone not default on the loan. Our loan is going to be called in and our real and tangible property, our nation, will be taken as defaulted loan collateral including all real men with arms and legs, as stated in the security of such collateral the Mafioso style Banksters made the US government sign, in a deal they couldn't turn down! The revolution is coming, the revolution is just around the corner, and this fiat currency system must collapse under the weight of its own interest debt. Get armed, get prepared, and make a good list of those accountable for its collapse and see they meet a befitting fate afterwards."
If the world's debt disappeared, you'd have a massive economic contraction and a worldwide depression. An advanced economy runs on debt. People buy things, they owe money. If nobody could owe any money, you'd have no economy. No trade. No finance. No business except cash business. We'd be back in the stone age.
I'm too lazy to dissect every absurd statement in that paragraph you quoted, but this statement in particular stands out to me:
"Our loan is going to be called in and our real and tangible property, our nation, will be taken as defaulted loan collateral including all real men with arms and legs, as stated in the security of such collateral the Mafioso style Banksters made the US government sign, in a deal they couldn't turn down! "
What is "our loan?" Federal government debt? Our loan is going to be called in? Federal government debt is not callable. It has a term. There are no call provisions.
"Collateral?" Where in any US government debt is a provision for collateral? There is none. US government debt is unsecured debt. No collateral. Nothing for anyone to "repossess."
And what exactly makes our bankers "Mafioso?" Without banks, there would be no business. No economy. No jobs. We'd be eating the bark off the trees to stay alive. Are banks supposed to loan money without charging interest? How the heck would they stay in business?
Damn. That whole paragraph is ridiculously ignorant. That is not how things work.
Was it a joke? Did I get whooshed again?
The elimination of debt would be the elimination of what we call wealth. The green stuff in your wallet is a receipt for a claim check on a debt that can never be repaid. It was never meant to be repaid. It was created to enslave the citizenry and extract wealth from productive citizens to make interest payments on the ever-increasing debt. And it has to continue to grow; the system will not function without a constant expansion of debt.
When you send a check to the IRS it is not used to run the government - it is applied directly to interest payments on the national debt. Read the Grace Commission report from the Reagan administration. In fact, if you send your payment Certified Mail - Return Receipt Requested, you will see that JP Morgan signed for it, not the IRS.
The debt does have collateral though. It is the real property and wealth of the citizens of the Several States, pledged to the World Bank when your Birth Certificate was issued. You were enslaved in 1933 when JP Morgan bailed out the U.S. Government and Roosevelt called in all the gold coins.
There should be no debt, no capitalism, no free market. Innovation and wealth will occur naturally. The proletariat will thrive through hard work towards the common good...all controlled by the Central Committee, of course.
Quote:If the world's debt disappeared, you'd have a massive economic contraction and a worldwide depression. An advanced economy runs on debt. People buy things, they owe money. If nobody could owe any money, you'd have no economy. No trade. No finance. No business except cash business. We'd be back in the stone age.
I'm too lazy to dissect every absurd statement in that paragraph you quoted, but this statement in particular stands out to me:
"Our loan is going to be called in and our real and tangible property, our nation, will be taken as defaulted loan collateral including all real men with arms and legs, as stated in the security of such collateral the Mafioso style Banksters made the US government sign, in a deal they couldn't turn down! "
What is "our loan?" Federal government debt? Our loan is going to be called in? Federal government debt is not callable. It has a term. There are no call provisions.
"Collateral?" Where in any US government debt is a provision for collateral? There is none. US government debt is unsecured debt. No collateral. Nothing for anyone to "repossess."
And what exactly makes our bankers "Mafioso?" Without banks, there would be no business. No economy. No jobs. We'd be eating the bark off the trees to stay alive. Are banks supposed to loan money without charging interest? How the heck would they stay in business?
Damn. That whole paragraph is ridiculously ignorant. That is not how things work.
Was it a joke? Did I get whooshed again?
It sounds really good when you're strung out on drugs while living amongst filth in an Occupy movement tent.
The American society is enslaved to the Banks. But before blaming others for your situation look in the mirror. People have the option to live debt free but they choose not to.
Apparently someone has no clue about basic economics. If you are that concerned with debt, use cash only from here on out. But to basically say the worlds monetary systems as we know it should be eliminated is ridiculous.
Quote:There should be no debt, no capitalism, no free market. Innovation and wealth will occur naturally. The proletariat will thrive through hard work towards the common good...all controlled by the Central Committee, of course.
Equality for all! Will our comrades in the Central Committee live in the same apartments as we do and ride bicycles or take the bus to work like we do?
Quote:Equality for all! Will our comrades in the Central Committee live in the same apartments as we do and ride bicycles or take the bus to work like we do?
Bicycles? In the absence of debt and capitalism, we shall all drive luxury cars #because.
Quote:The American society is enslaved to the Banks. But before blaming others for your situation look in the mirror. People have the option to live debt free but they choose not to.
Not true. You are forced via legal tender laws to accept a debt receipt in lieu of true payment. The only Constitutional money is gold and silver. In 1933 contracts between private parties for payment in gold were OUTLAWED. You could no longer demand gold payment for your skills or services - it was illegal for you to be paid in legal money.
Go to your boss and demand to be paid in gold. You will be debt free - and unemployed.
Quote:Was it a joke? Did I get whooshed again?
When I was in college we had an Econ professor who taught alternative monetary theory. That poster could've used the course.
Quote:Not true. You are forced via legal tender laws to accept a debt receipt in lieu of true payment. The only Constitutional money is gold and silver. In 1933 contracts between private parties for payment in gold were OUTLAWED. You could no longer demand gold payment for your skills or services - it was illegal for you to be paid in legal money.
Go to your boss and demand to be paid in gold. You will be debt free - and unemployed.
You're a Goldbug too? Wow, you are almost the perfect example of the Left's caricature of the Right.
Quote:Not true. You are forced via legal tender laws to accept a debt receipt in lieu of true payment. The only Constitutional money is gold and silver. In 1933 contracts between private parties for payment in gold were OUTLAWED. You could no longer demand gold payment for your skills or services - it was illegal for you to be paid in legal money.
Go to your boss and demand to be paid in gold. You will be debt free - and unemployed.
You can buy gold. Diversify in stocks, gold, cash and real property, rid yourself of debt and you will sleep better at night. Trust me.
Quote:You can buy gold. Diversify in stocks, gold, cash and real property, rid yourself of debt and you will sleep better at night. Trust me.
He considers all fiat currency to be invalid.
Quote:You're a Goldbug too? Wow, you are almost the perfect example of the Left's caricature of the Right.
I would be if I could afford it. I have a few silver dollars and Grandpa's gold watch. Currently just trying to keep the lights on via a part time job in the ever-crumbling medical field. But yeah, if I had a wad to park somewhere it would likely be in gold. Gold went up nicely after Brexit and could soar if the summer of fun continues apace.
Quote:He considers all fiat currency to be invalid.
Gold isn't a fiat currency. Now what true value it holds is questionable due to declining use in manufacturing. In a true 'non jd morgan greenback' society guns, ammo, and food would be worth a lot more IMO.
Quote:Apparently someone has no clue about basic economics. If you are that concerned with debt, use cash only from here on out. But to basically say the worlds monetary systems as we know it should be eliminated is ridiculous.
The monetary system is ridiculous to anyone who understands it. It gives complete control to Central Banks. These are PRIVATE banks but we are not allowed to know who owns them. Think about that. Why would the government ask a private company to issue the nation's money, especially at interest? The government could just issue the money themselves and not have to answer to - or pay interest to - the private bank.
The other ridiculous part is that the currency issued has no inherent value. But since they are called "dollars" and they circulate along with other things we called "dollars" they are accepted as being the same. If you look at the wording on U.S. Currency over the years, you can see that "the dollar" has changed many times without our consent. Used to be you could take a $20 bill into any bank and walk out with almost 1-oz of gold. Even a $5 coin was made of gold. But people used paper money because it was essentially equivalent to gold. Until the day it wasn't.
I could go on, but do you think it's fair that Janet Yellen gets to decide how many billion dollars she will create today, which of her banking buddies she will lend it to, at what interest, etc? Meanwhile the average Joe has to actually WORK for his dollars - work extra hard so he can give some fruits of his labor to Ms. Yellen and the Fed for interest on a debt we never had a part in creating. Actually the Fed is lending to the banks at 0.0% interest and paying them 0.25% to "park their reserves" with the Fed! Actually the taxpayer is on the hook for that 0.25% free interest because if the Fed didn't have those payments the extra money would be returned to the Treasury.
Quote:Gold isn't a fiat currency.
Didn't I make that point?
Quote:Didn't I make that point?
Hmm, not sure why I thought that needed to be clarified. My reply was more to the thread than your exact post. I wanted more to comment on golds limited value outside of being a traditional safeguard for currency. For instance the 'petro-dollar' of today is somewhat useful as we force oil to be traded in dollars thereby making the dollar attached to something of A. Real value, B. Great need. However, by lifting sanctions on Iran and letting them promptly proceed to sell their oil for EUROs only we kind of screwed ourselves.