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You fail to understand how it works in the credit world.
If you have a credit rating of 500, and I have one at 700, and we go into a deal together, MY credit rating is the one that counts. Yours is meaningless.
The same is true for mortgage securities. If you are the payor, and its a subprime loan, as long as you find someone with AAA rating to guarantee them, then you have AAA mortgages.
The same is true for tenants, where AAA credit rated tenants pay a lower cap rate than BB credit tenants.
It has EVERYTHING to do with full faith and credit of the USG.
But it's not the full faith and credit of the USG... It's the International Banking cartel consisting of aboout 6 wealthy families... who print our money then charge the American people income tax to pay the interest... That's what they are protesting...
The last full faith and credit of the USG was when Abraham Lincoln printed "Greenback" currency and won the Civil War with it...
If we inflate the economy from the bottom up and start saving then we can reduce the cost of the problem a 4X on the minimum wage that will drive real inflation and with real inflation should come full employment.
Quote:
Originally Posted by BentBow
What do you mean, less cost to the fat cats?
No everyone the fat cats are trying to pass the buck to us but they have all the money and if they want us to foot the bill then we need to cause inflation to reduce the cost of it. The owner's of debt get hurt with inflation. So who has gotten rich form loaning out too much money? Also the savers get hurt as well but if you keep the inflation within reason you can compensate the small savers the big ones well...
They clearly were not...IMPLICIT...inferred, assumed.
Lets do the math together since you seem to be having such difficulty understanding.
1) The federal government backs the issuing of $100B in bonds.
2) The federal government then loans this money to Fannie/Freddie
3) Fannie/Freddie goes bankrupt
WHO IS PAYING THE DEBT?
Answer, the federal government. Thats not implicit. Thats a fact
Lets do the math together since you seem to be having such difficulty understanding.
1) The federal government backs the issuing of $100B in bonds.
2) The federal government then loans this money to Fannie/Freddie
3) Fannie/Freddie goes bankrupt
WHO IS PAYING THE DEBT?
Answer, the federal government. Thats not implicit. Thats a fact
Lets do the math together since you seem to be having such difficulty understanding.
1) The federal government backs the issuing of $100B in bonds.
2) The federal government then loans this money to Fannie/Freddie
3) Fannie/Freddie goes bankrupt
WHO IS PAYING THE DEBT?
Answer, the federal government. Thats not implicit. Thats a fact
Quote:
Originally Posted by BentBow
Who funds the Federal Government?
Quote:
Originally Posted by pghquest
People who pay taxes of course. Whats the point?
When you ask, Who is paying the debt, then answered it for us with the federal government. I then ask, who funds the Federal Government.
Then the point was made by you, in your answer... People pay taxes... as in the tax paying citizens.
The banks holding hands with Dem legislators including charlie wrangel who heads the tax code committee, Barney Frank, tim Gietner, et al led the parade to economic disaster and continues the march into financial oblivion.
Obama has the treasury dept stocked with goldman alumni.
Wall street is already there sitting right next to Obama. Look at the unions, GE and the Solyndra execs who arrive at the Obama's whitehouse to beg for favors at the the foot of the Godfather...and he grants them! Who is exempt from Obamacare...the unions.
Obama is playing you!
His startegy of class warfare is made with the co-operation of the imaginary 'enemy of the people' he pretends to fight.
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