Our Debt

[PINski1015]

Since were 15T in debt, Inflation is high, and we continue to devalue our currency; Is our debt actually worth anything? Our money isn't backed by anything so there is no real value to it is there?

 

[mrjarrell]

The national debt is not 15 trillion. It is well over 100 trillion when you factor in all the unfunded mandates and the stuff that will be coming due. It's far worse than a train wreck. We're going to see a nuclear event when all the bills come due.

 

[Expat]

Since were 15T in debt, Inflation is high, and we continue to devalue our currency; Is our debt actually worth anything? Our money isn't backed by anything so there is no real value to it is there?

There have been rumors that the Chicoms have been assured of federal lands in case of a default.

 

[dhnorris]

There have been rumors that the Chicoms have been assured of federal lands in case of a default.

But, that's not the "governments" land. It's the peoples land held in trust for future generations. what i feel like saying will get me banned. I will say that this is not what I swore an oath for.

 

[spearheadersarge]

Fedral lands as security? I don't think so! There would be such a backlash and people would freak if it was even suggested. I know that any administration who attempted it would probably be brought up on treason charges!

 

[VN Vet]

Plus, with Europes, Englands and Greeces economy all still in decline, plus the rest of the free world, our US Dollar will feel more of the worlds declining economy for years to come.

A nuclear event won't even begin the hurt for which the United States is heading faster than the square of the velocity of the fastest bullet you can find.

Of course, this is all my opinion.

 

[88GT]

Since were 15T in debt, Inflation is high, and we continue to devalue our currency; Is our debt actually worth anything? Our money isn't backed by anything so there is no real value to it is there?

One of the reasons I'm not worried about paying off unsecured debt at this point. If it gets worse, I might just be able to write a single check and wipe it out.

 

[hornadylnl]

Fedral lands as security? I don't think so! There would be such a backlash and people would freak if it was even suggested. I know that any administration who attempted it would probably be brought up on treason charges!

There shoulda have been treason charges long before now. Why is there so much federal land to begin with?

 

[Kirk Freeman]

Nuclear event?

Pffft, people will still get their treats, it's just that the money won't be worth anything.

Guys, go read Boomsday. The Mandarin Class knows the way out of this: make fewer of us and make the money worth less so it covers more treat checks.

http://www.amazon.com/Boomsday-Christopher-Buckley/dp/04465798151

 

[spearheadersarge]

There shoulda have been treason charges long before now. Why is there so much federal land to begin with?[/QUOTE]

Good question! We need to apportion it out to all legal residents of the country as homesteads. Kinda like "40 acres and a mule" type of thing. Also, if you don't/haven't paid taxes, you're out! Veterans first since they've obviously earned it as well!

 

[88GT]

There shoulda have been treason charges long before now. Why is there so much federal land to begin with?

While we're on the subject, why is the U.S. as big as it is? Jefferson should never have purchased Louisiana Territory since there is no specific enumerated power for doing so.

 

[Expat]

There shoulda have been treason charges long before now. Why is there so much federal land to begin with?[/QUOTE]

Good question! We need to apportion it out to all legal residents of the country as homesteads. Kinda like "40 acres and a mule" type of thing. Also, if you don't/haven't paid taxes, you're out! Veterans first since they've obviously earned it as well!

I heard Walter Williams the other day proposing that each of us get 40 acres in exchange for any promises of Social Security. That would solve 2 problems.

 

[jbombelli]

I heard Walter Williams the other day proposing that each of us get 40 acres in exchange for any promises of Social Security. That would solve 2 problems.

I want a mule with that, or no deal.



I'm serious.

 

[hornadylnl]

While we're on the subject, why is the U.S. as big as it is? Jefferson should never have purchased Louisiana Territory since there is no specific enumerated power for doing so.

I'd rather the Feds purchase land for expansion as opposed to killing for it. Has the land in the Louisiana purchase always remained under fed ownership?

 

[Carmelbythecorn]

I maintain that the bulk of our debt is owed to the Federal Reserve (which is neither federal, nor is it a reserve) as interest on the money they issued (extra-constitutionally I might add). Each dollar put into circulation is a dollar of debt. This whole thing is a huge theft / transfer of wealth going directly to the banking gangsters.

 

[PINski1015]

I maintain that the bulk of our debt is owed to the Federal Reserve (which is neither federal, nor is it a reserve) as interest on the money they issued (extra-constitutionally I might add). Each dollar put into circulation is a dollar of debt. This whole thing is a huge theft / transfer of wealth going directly to the banking gangsters.

I've never believed in the IBC, Simply because I cannot imagine the Russians or The Chinese submitting their banks to private control. With the devaluation of currency they aren't stealing much of anything in value. If they exist.

 

[ocsdor]

Since were 15T in debt, Inflation is high, and we continue to devalue our currency; Is our debt actually worth anything? Our money isn't backed by anything so there is no real value to it is there?

I don't know why you are calling it "our" debt. I had nothing to do with it; and I'm going to do as much as possible to keep from paying for it.

Here is what real money looks like:

 

[88GT]

I'd rather the Feds purchase land for expansion as opposed to killing for it. Has the land in the Louisiana purchase always remained under fed ownership?

So some federal overstepping of Constitutional powers is okay. Gotcha.

 

[GodFearinGunTotin]

There have been rumors that the Chicoms have been assured of federal lands in case of a default.

Not only that...The government owns a huge percentage of all the outstanding home mortgages.

 

[GodFearinGunTotin]

I heard Walter Williams the other day proposing that each of us get 40 acres in exchange for any promises of Social Security. That would solve 2 problems.

It'd be my luck I'd get a chunk where they've done nuclear bomb testing.