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Of course, if 51% of the productive Americans withdrew consent, the "Dollar bill" would lose over half of its collateralized value, and like the upside down mortgages, would no longer be of value. And as the FED site boasted, the Federal Reserve notes are "backed" by .... the goods and services of the remaining 49% - and that would be insufficient. Especially, if the 49% were largely recipients, and government bureaucrats.
After QE2 the Fed will own about 25% outstanding US debt. Pretty wild huh ?
And the Fed are going to Jekyll Island to celebrate their 100 years.
More like "Mission accomplished" if you ask me. News Headlines
"The Fed will own $2.5 trillion in US Treasuries by June 2011, or about 25 percent of all debt outstanding and much bigger than China’s holdings.”
Yeah - forget China, my life is mortgaged to the Fed bankers. They sure deserve all those trillions - it's hard work loading the ink, making sure the bills are color coded correctly, and turning on that switch - that's a real b_tch!!!!!
Yeah - forget China, my life is mortgaged to the Fed bankers. They sure deserve all those trillions - it's hard work loading the ink, making sure the bills are color coded correctly, and turning on that switch - that's a real b_tch!!!!!
I forgot, they also have to be careful how many zeros they add to the numbers on the bill - must be PRUDENT after all. LOL!!!!!!!!!!!
Well then man-up and stop spending money you don't have. If you'd put away your credit cards and start putting at least 35% down when you buy houses and at least 20% when you buy cars, then the banks wouldn't need to borrow money created by the central bank.
Don't you get it. They don't need your money. Or need you to borrow. They have the government. That's why the central bankers cannot function without a corrupted government.
Just using 2010's date, US government total expenditures is $3.5 trillions. The total US population is about 310 millions. Take total expenditures divided by total US population, it comes out to be around $11,000 per person. So a family of 4 (parents and 2 kids), that's $48,000 per family. A lot of family don't don't even make $48,000 before tax. For after tax, you pre tax income need to be around $73,000 (use 1/3 as tax, included FICA, Fed, State and other misc tax)
Don't you get it. They don't need your money. Or need you to borrow. They have the government. That's why the central bankers cannot function without a corrupted government.
Just using 2010's date, US government total expenditures is $3.5 trillions. The total US population is about 310 millions. Take total expenditures divided by total US population, it comes out to be around $11,000 per person. So a family of 4 (parents and 2 kids), that's $48,000 per family. A lot of family don't don't even make $48,000 before tax. For after tax, you pre tax income need to be around $73,000 (use 1/3 as tax, included FICA, Fed, State and other misc tax)
If you add in all the unfunded entitlement liabilities, I thinks it's around $200k for a family of 4.
Whew! That was a close one. So the national debt is nothing to worry about, and we can sustain the gigantic debt and future liabilities.
If anything I've said NOW IS NOT THE TIME TO WORRY ABOUT the national debt or federal expenditures. Get the economy back on tract and THEN address the federal government’s spending issues. We did this very successfully during the Clinton Administrations.
You guys sound like the Hoover Administration after the Crash of 1929.
If anything I've said NOW IS NOT THE TIME TO WORRY ABOUT the national debt or federal expenditures. Get the economy back on tract and THEN address the federal government’s spending issues. We did this very successfully during the Clinton Administrations.
You guys sound like the Hoover Administration after the Crash of 1929.
The problem is - you can spend all the trillions you want to, as 'stimulus' to prop up privatre sector jobs for awhile, and create some temporary public sector jobs. But that money is then owed by the taxpayers to the Fed and all the countries who are forced to buy dollars because it is still the reserve currency of the world, and taxpayers can't pay the taxes if there are no jobs. The billions a year in wages lost will not return unless drastic changes are made to the corporate policies. Not happening. Companies are ramping up outsourcing more and more, my company included.
I have a simple solution. lets toss these bankers in prison in GITMO
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