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This is more of an information post than a debate post, I think.
One of my state senators, Bob Corker (R), has put together a very easy to understand slideshow on our national debt crisis and the first step to take to cap spending. The charts are very good to give you a picture of the gap between spending and revenue over the last 50 years, where we are now and where we're headed if we continue to spend the way we have. The pie charts that show the differences between mandatory spending and discretionay spending and interest payments in 1970, 2010 and projected to 2035 are interesting. It's non-partisan. In fact, he mentions the last time we were looking good was 1999 (Clinton) and that he and Erskine Bowles are pretty close on the amount where spending should be capped.
"Erskine Bowles, who served as chief of staff under President Bill Clinton and now co-chairs President Obama’s debt and deficit commission, has said spending should be at about 21 percent of GDP. Corker would like to see a balanced budget, which would put spending at about 18 percent of GDP."
That's all good and everything but how can you ever repay the national debt when the debt costs more than we have in printed money? The Federal Reserve keeps us in debt forever, by charging interest on money it creates. So if you have $0 in the entire money supply, and the Fed prints $100 and wants you to pay it back with 5% interest, where are you going to get the other $5 that doesn't exist, to pay the debt back? The solution is to print that $5, but then there's interest on that $5 and you have to keep printing more. Perpetual debt that never ends, and results in hyperinflation in the worse cases.
The soon to be 14 trillion dollar public debt cannot be paid with debt instruments (FRNs / "dollar bills"). There is not enough gold bullion in the world to pay it. Nor can Congress question its validity despite being impossible to repay.
14th amendment, Section 4. The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.
What does it really mean?
The American people have been systematically robbed for over 3 generations by usurers and by profligate idiots in the government, who blindly entered into impossible contracts, that can not be questioned, and who have instituted socialist chains that no recipient dare rip off.
That's all good and everything but how can you ever repay the national debt when the debt costs more than we have in printed money? The Federal Reserve keeps us in debt forever, by charging interest on money it creates. So if you have $0 in the entire money supply, and the Fed prints $100 and wants you to pay it back with 5% interest, where are you going to get the other $5 that doesn't exist, to pay the debt back? The solution is to print that $5, but then there's interest on that $5 and you have to keep printing more. Perpetual debt that never ends, and results in hyperinflation in the worse cases.
What the law states about money and what people believe money is, is evidence of the victory of the propaganda ministry.
1. Since 1933, no dollars have circulated. NONE. NADA. ZIP.
2. No one has PAID DEBT since 1933. BY LAW. Guess who "protects" people who do not "PAY DEBT"? The Federal government, via bankruptcy protection. Coincidentally, in the bankruptcy code, the term "bankrupt" has been replaced with "debtor". Because all debtors are BANKRUPTS. Every "Creditor / Debtor" agreement comes under FEDERAL scrutiny. That's why you have to pay a tax for the privilege of buying and selling with worthless notes.
3. See Title 12 USC Sec. 411. A Federal Reserve Note (dollar bill) is an obligation to pay face value on demand. That promise was repudiated in 1933, by FDR (for Americans) and by Nixon (for foreign governments). All FRNs have no par value (worthless). Or more accurately, less than nothing.
4. Notes are not money, by law. Never were. Never will be. They were never "backed" by gold. It was all a lie. Only "certificates" are backed by species. Notes are promises to pay IN THE FUTURE.
5. By law, the public debt, denominated in dollars, is unpayable with dollar bills. Debt cannot pay debt. Minus value plus a minus value is more minus.
6. The millions of Americans who signed up under FICA are the enumerated human resources pledged as collateral on the public debt. That is how worthless notes are "legal tender". Obligated parties cannot object to the tender of their own notes, in discharge of debt (not payment).
7. Since the debt computes to an obligation to pay the creditor 700 billion ounces of gold, and the world wide supply (est.) is only 5.5 billion ounces, one might question WHERE IS THE GOLD MONEY LENT TO THE CONGRESS ?
8. And if no money was lent to Congress, WHAT is the basis for the obligation to pay 14 trillions? Methinks - FRAUD !
9. But Congress cannot question the validity of that bogus debt - see 14th amendment, clause 4.
If it wasn't in print, in the public record, in any county courthouse law library, this would sound absolutely INSANE.
But it is true.
And that means we're all [expletive deleted] !
What the law states about money and what people believe money is, is evidence of the victory of the propaganda ministry.
1. Since 1933, no dollars have circulated. NONE. NADA. ZIP.
2. No one has PAID DEBT since 1933. BY LAW. Guess who "protects" people who do not "PAY DEBT"? The Federal government, via bankruptcy protection. Coincidentally, in the bankruptcy code, the term "bankrupt" has been replaced with "debtor". Because all debtors are BANKRUPTS. Every "Creditor / Debtor" agreement comes under FEDERAL scrutiny. That's why you have to pay a tax for the privilege of buying and selling with worthless notes.
3. See Title 12 USC Sec. 411. A Federal Reserve Note (dollar bill) is an obligation to pay face value on demand. That promise was repudiated in 1933, by FDR (for Americans) and by Nixon (for foreign governments). All FRNs have no par value (worthless). Or more accurately, less than nothing.
4. Notes are not money, by law. Never were. Never will be. They were never "backed" by gold. It was all a lie. Only "certificates" are backed by species. Notes are promises to pay IN THE FUTURE.
5. By law, the public debt, denominated in dollars, is unpayable with dollar bills. Debt cannot pay debt. Minus value plus a minus value is more minus.
6. The millions of Americans who signed up under FICA are the enumerated human resources pledged as collateral on the public debt. That is how worthless notes are "legal tender". Obligated parties cannot object to the tender of their own notes, in discharge of debt (not payment).
7. Since the debt computes to an obligation to pay the creditor 700 billion ounces of gold, and the world wide supply (est.) is only 5.5 billion ounces, one might question WHERE IS THE GOLD MONEY LENT TO THE CONGRESS ?
8. And if no money was lent to Congress, WHAT is the basis for the obligation to pay 14 trillions? Methinks - FRAUD !
9. But Congress cannot question the validity of that bogus debt - see 14th amendment, clause 4.
If it wasn't in print, in the public record, in any county courthouse law library, this would sound absolutely INSANE.
But it is true.
And that means we're all [expletive deleted] !
Too bad you, I, and a few others on here understand what's going on behind the scenes. The mainline Republicans are all about cutting spending, when the real culprit is funny money that doesn't exist. All the money we have, was created out of thin air and backed by nothing. The only thing giving it any "value" is confidence in the dollar. That's why we have to soldier on with ROn Paul's efforts to audit the Fed, so we can establish a RICO case against them and shut down that criminal organization. Of course Kennedy tried to abolish it, and he paid that price. Foreign heads of state have a stake in the Fed
So I take it you all support cutting defense related spending?
Or would you prefer to cut social security and medicare, but leave the taxes in place (i.e. raise taxes)?
Because these combined with interest on the debt is in excess of 75% of government spending and much of the rest is tax credits.
Yes, we need to cut defense spending so we only have enough to protect our territory. We need to close down all our bases around the world and withdraw. Let the world deal with the aftermath and realize how important we are. Let's see how their anti-Americanism goes for them while they are in shambles, we'll be prosperous. We need to get rid of every single government agency there is, except those expressly mandated by the Constitution.We need to get rid of the Fed, and return to real gold-backed money. Not the phony money we have right now.
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