kallend 2,027 #1 October 7, 2004 That every second of every day the US administration is spending $20,000 more than it collects in revenues? That's right, the debt is increasing $20,000 each second Scary!... The only sure way to survive a canopy collision is not to have one. Quote Share this post Link to post Share on other sites
nacmacfeegle 0 #2 October 7, 2004 Where does the money to make up the deficit come from?-------------------- He who receives an idea from me, receives instruction himself without lessening mine; as he who lights his taper at mine, receives light without darkening me. Thomas Jefferson Quote Share this post Link to post Share on other sites
kallend 2,027 #3 October 7, 2004 QuoteWhere does the money to make up the deficit come from? They print some of it and borrow the rest. Value of the $US is declining as a result.... The only sure way to survive a canopy collision is not to have one. Quote Share this post Link to post Share on other sites
PhillyKev 0 #4 October 7, 2004 QuoteWhere does the money to make up the deficit come from? It's borrowed, and will have to be paid back eventually. If not, as John stated, it devalues the dollar and if it contines to climb without the debt being reduced it will lead to financial calamity. Quote Share this post Link to post Share on other sites
nigel99 476 #5 October 7, 2004 stolen Iraqi oil - didn't you know? (a joke - before anybody takes me seriously on this)Experienced jumper - someone who has made mistakes more often than I have and lived. Quote Share this post Link to post Share on other sites
rhino 0 #6 October 7, 2004 Fire congress.. All of them... Sadham for president.. lol Quote Share this post Link to post Share on other sites
MC208B 0 #7 October 7, 2004 Naw, just live it up, max out the credit and file bankruptcy, no big deal! Did anyone see (and remember) the movie, I think it was "Americathon"? Very funny flick. Had to do with some rich guy getting ready to foreclose on the gov't. Telethon might help now Quote Share this post Link to post Share on other sites
SkyDekker 1,465 #8 October 7, 2004 Bush for president for four more years, that is my wish. By the end of those 4 years I'll be worth more than Bill Gates Probably not more than Ingvar Kamprad though. Quote Share this post Link to post Share on other sites
kallend 2,027 #9 October 7, 2004 QuoteBush for president for four more years, that is my wish. By the end of those 4 years I'll be worth more than Bill Gates Probably not more than Ingvar Kamprad though. Right, but that's because you're Canadian.... The only sure way to survive a canopy collision is not to have one. Quote Share this post Link to post Share on other sites
PhillyKev 0 #10 October 7, 2004 Well, you don't have to be Canadian to benefit from the shitty position of the US dollar. Over 22% one year return on my foreign stock fund compared to 14% for the US. Quote Share this post Link to post Share on other sites
TheAnvil 0 #11 October 7, 2004 Do you realize that we spend more in Iraq every three days than we do on home-port security in one year? That alarms me. Imagine how much we'd be spending per second if we socialized medicine? Vinny the Anvil Post Traumatic Didn't Make The Lakers Syndrome is REAL JACKASS POWER!!!!!! Quote Share this post Link to post Share on other sites
PhillyKev 0 #12 October 7, 2004 QuoteDo you realize that we spend more in Iraq every three days than we do on home-port security in one year? That alarms me. Do you realize we have more personnel dedicated to finding illegal money transfers to Cuba than we do to terrorist organizations world wide? Do you realize that Saudis are 90% likely to get an expedited VISA to the US (3-5 times more likely than other middle eastern nations). Of course the 9/11 hijackers were 4 times more likely to be Saudi than from other nations. Quote Share this post Link to post Share on other sites
christelsabine 1 #13 October 7, 2004 Quote They print some of it and borrow the rest. Value of the $US is declining as a result Yeah and that will pretty quick lead towards a fine inflationary policy dudeist skydiver # 3105 Quote Share this post Link to post Share on other sites
billvon 2,991 #14 October 7, 2004 > Do you realize that we spend more in Iraq every three days than we do >on home-port security in one year? Well, of course! It's all part of the war on terra. Once we've killed all the Al Qaeda members Afghanis Saddam supporters insurgents Iraqis we won't even need home port security! Quote Share this post Link to post Share on other sites
free_man 0 #15 October 8, 2004 The Department of Treasury calls up the US Mint and declares that the Federal Reserve has expressed the need for "X" amount of notes to be printed. Since that money is backed by no precious metals, reduction of the value of printed money already in circulation will occur in relationship to the face value of the new money created. The Bureau of Engraving and Printing prints the money. The Federal Reserve then buys the bills from the United States Mint for 234 dollars per 1000 notes (any denomination) Next, they deposit this money at face value into their own account. They then buy US Treasury obligations such as T-Bills, T-Bonds, and T-Notes and pay the money they just received right back to the US Department of Treasury, which spends it into the economy. The Federal Reserve Banks, previously having nothing, now have the full face value of the money printed in their account. Additionally, they will receive the interest which will be paid on this money. Inflation is the act of increasing the money supply. Rising prices are a result of inflation. The flaw in the present system is that our Government has been convinced that it is normal for a nation to borrow its national currency, and pay interest, to a private bank. When it could issue whatever amounts of currency it needs directly from its own treasury, without interest. “…because I hope you know this, I think you do…all governments are lying cocksuckers.” Bill Hicks, Relentless Quote Share this post Link to post Share on other sites
billvon 2,991 #16 October 8, 2004 >When it could issue whatever amounts of currency it needs directly from >its own treasury, without interest. And the dollar will plummet like a stone compared to other countries. Currencies, much like commodities, follow the laws of supply and demand. If there are way more US dollars, and the same demand for them, their value will decline. Quote Share this post Link to post Share on other sites
free_man 0 #17 October 8, 2004 Post: >When it could issue whatever amounts of currency it needs directly from >its own treasury, without interest. And the dollar will plummet like a stone compared to other countries. Currencies, much like commodities, follow the laws of supply and demand. If there are way more US dollars, and the same demand for them, their value will decline. Exactly what is happening now only worse because of the interest. The Fed enables Congress to spend the next couple of generations' money. The political implications of creating massive amounts of bonded debt are not felt until years later. If Congress did not have this ability, but could only issue currency, the issuance of large amounts would cause an inflation that would be political suicide for them. This is why the Constitution states: Article I. Section 8 "The Congress shall have Power To coin money, regulate the Value thereof," “…because I hope you know this, I think you do…all governments are lying cocksuckers.” Bill Hicks, Relentless Quote Share this post Link to post Share on other sites
