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Only an idiot can't See Sarah Palin as a Loser....
"John Smith" wrote in message ... On 7/2/2011 3:23 PM, Ed Huntress wrote: "John wrote in message ... On 7/2/2011 12:22 PM, Ed Huntress wrote: ... We don't even have a money system, we have a system based on debt. You need to learn the difference between the two. I'm not sure how you decide it's a "system based on debt." In regards to our national accounts, since 1980, we've accumulated about a year's worth of GDP in debt. So it's mostly not debt. Do you have a better explanation for what you mean? Here is a spoon feeding, it seems there is bunch of you guys who were sleeping or lack the where-with-all to get a grip on it: http://www.gold-eagle.com/editorials...rom082307.html Eh, I should have remembered: the Grignon pitch. This Nystrom guy appears to be a small fry who's parroting Grignon's economic theories, which are re-writes of Murray Rothbard, Lew Rockwell, snd some others in the Austrian School clan. The short take is that it doesn't matter that the debt is greater than the amount of money in circulation. The proof is that debt does not expand exponentially with the creation of new money, as Grignon says it must. The reasons are that there are many monetary actions that central banks use to control money supply; the money multiplier inherent in fractional-reserve banking is just one of them. It wouldn't take many cycles of multiplication through the fractional-reserve system before interest rates would be through the roof, if Grignon et al. were right. You're talking about heterodox theories that require book-length arguments. We've been using fractional reserves for over 200 years, which, again, if Grignon were right, would have bankrupted the economy and frozen credit into an immovable mass at least a century ago. So the evidence isn't there. If you believe it, so be it. -- Ed Huntress |
#2
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Only an idiot can't See Sarah Palin as a Loser....
On 7/3/2011 12:46 AM, Ed Huntress wrote:
"John wrote in message ... On 7/2/2011 3:23 PM, Ed Huntress wrote: "John wrote in message ... On 7/2/2011 12:22 PM, Ed Huntress wrote: ... We don't even have a money system, we have a system based on debt. You need to learn the difference between the two. I'm not sure how you decide it's a "system based on debt." In regards to our national accounts, since 1980, we've accumulated about a year's worth of GDP in debt. So it's mostly not debt. Do you have a better explanation for what you mean? Here is a spoon feeding, it seems there is bunch of you guys who were sleeping or lack the where-with-all to get a grip on it: http://www.gold-eagle.com/editorials...rom082307.html Eh, I should have remembered: the Grignon pitch. This Nystrom guy appears to be a small fry who's parroting Grignon's economic theories, which are re-writes of Murray Rothbard, Lew Rockwell, snd some others in the Austrian School clan. The short take is that it doesn't matter that the debt is greater than the amount of money in circulation. The proof is that debt does not expand exponentially with the creation of new money, as Grignon says it must. The reasons are that there are many monetary actions that central banks use to control money supply; the money multiplier inherent in fractional-reserve banking is just one of them. It wouldn't take many cycles of multiplication through the fractional-reserve system before interest rates would be through the roof, if Grignon et al. were right. You're talking about heterodox theories that require book-length arguments. We've been using fractional reserves for over 200 years, which, again, if Grignon were right, would have bankrupted the economy and frozen credit into an immovable mass at least a century ago. So the evidence isn't there. If you believe it, so be it. It has enslaved people to debt for the last 40 years here, at least. As the public servants, wall street, banksters, federal reserve, etc. have become more corrupt and unethical, they have abused the ability of the flawed debt system to extract ever increasing "productivity" (read slavery here) out of those living under the system. You only need your eyes and a full appraisal/analysis of where we are now to realize that, no obfuscation necessary! Regards, JS |
#3
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Only an idiot can't See Sarah Palin as a Loser....
John Smith wrote: It has enslaved people to debt for the last 40 years here, at least. As the public servants, wall street, banksters, federal reserve, etc. have become more corrupt and unethical, they have abused the ability of the flawed debt system to extract ever increasing "productivity" (read slavery here) out of those living under the system. You fail to understand the meaning of "slavery" Slavery is forced servitude. People are not forced to go into debt The huge debt binge in the US (and Europe) in the last couple of decades was because people believed that borrowing was the road to riches borrowing because you believe that the assets will grow in value faster than the interest cost If the theory is valid the more you borrow the more you make Today after the fall of value in housing, pension and stock most of the public no longer believes that theory the only ones still operating under that theory today are the ones borrowing to buy gold and other commodities that are perceived to be rapidly increasing in price When those bubbles pop there will be darn few left willing to borrow as a means of winning the lottery -jim You only need your eyes and a full appraisal/analysis of where we are now to realize that, no obfuscation necessary! Regards, JS |
#4
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Only an idiot can't See Sarah Palin as a Loser....
On 7/3/2011 10:14 AM, jim wrote:
John Smith wrote: It has enslaved people to debt for the last 40 years here, at least. As the public servants, wall street, banksters, federal reserve, etc. have become more corrupt and unethical, they have abused the ability of the flawed debt system to extract ever increasing "productivity" (read slavery here) out of those living under the system. You fail to understand the meaning of "slavery" Slavery is forced servitude. People are not forced to go into debt ... Are you an ignorant arse? Right now, you are borrowing against your grandchildrens' childrens' future! Besides the amount of debt they are already born into ... If you don't understand that, come back when you do. If you don't think you can be enslaved by debt, you are a moron twice over. Regards, JS |
#5
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Only an idiot can't See Sarah Palin as a Loser....
John Smith wrote:
On 7/3/2011 10:14 AM, jim wrote: John Smith wrote: It has enslaved people to debt for the last 40 years here, at least. As the public servants, wall street, banksters, federal reserve, etc. have become more corrupt and unethical, they have abused the ability of the flawed debt system to extract ever increasing "productivity" (read slavery here) out of those living under the system. You fail to understand the meaning of "slavery" Slavery is forced servitude. People are not forced to go into debt ... Are you an ignorant arse? Right now, you are borrowing against your grandchildrens' childrens' future! Besides the amount of debt they are already born into ... Really? How does that work? Did anybody pay back the debt from WW2? I can't see how since the debt has been continually growing ever since From your viewpoint did my Grandparents borrow against my future? I mean really how are my Grandchildren any different than my grandparents? I don't get how my grandparents enslaved me? So enlighten this ignorant arse as to how my Grandparents did me so wrong. Did they put me in slavery? I do see that if the people of the US all suddenly go crazy and decide to pay off the Federal debt as fast as possible it will be disastrous we will be quickly impoverished without currency or goods Doing that would no doubt leave us with no money and scrounging for bugs in the dirt So is that what you are worried about? Are you worried that we will all lose our minds? Maybe so, but I don't see that gold has ever helped anybody keep their sanity All the evidence I see suggests the opposite |
#6
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Only an idiot can't See Sarah Palin as a Loser....
jim wrote in
: John Smith wrote: On 7/3/2011 10:14 AM, jim wrote: John Smith wrote: It has enslaved people to debt for the last 40 years here, at least. As the public servants, wall street, banksters, federal reserve, etc. have become more corrupt and unethical, they have abused the ability of the flawed debt system to extract ever increasing "productivity" (read slavery here) out of those living under the system. You fail to understand the meaning of "slavery" Slavery is forced servitude. People are not forced to go into debt ... Are you an ignorant arse? Right now, you are borrowing against your grandchildrens' childrens' future! Besides the amount of debt they are already born into ... Really? How does that work? Did anybody pay back the debt from WW2? I can't see how since the debt has been continually growing ever since From your viewpoint did my Grandparents borrow against my future? I mean really how are my Grandchildren any different than my grandparents? I don't get how my grandparents enslaved me? So enlighten this ignorant arse as to how my Grandparents did me so wrong. Did they put me in slavery? I do see that if the people of the US all suddenly go crazy and decide to pay off the Federal debt as fast as possible it will be disastrous we will be quickly impoverished without currency or goods Doing that would no doubt leave us with no money and scrounging for bugs in the dirt So is that what you are worried about? Are you worried that we will all lose our minds? Maybe so, but I don't see that gold has ever helped anybody keep their sanity All the evidence I see suggests the opposite Another sterling example of why not every person should have the vote. -- Herman Cain for President! http://hermancain.com/ If you don't support him you are a Racist!! He beat Cancer. He'll beat Obama (who is just like cancer) Remember Desert One, Carter 0? Ain't it sad to wish that Obama had as much ambition but being glad he doesn't knowing he doesn't have THAT much competence? |
#7
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Only an idiot can't See Sarah Palin as a Loser....
On 7/3/2011 3:55 PM, jim wrote:
John Smith wrote: On 7/3/2011 10:14 AM, jim wrote: John Smith wrote: It has enslaved people to debt for the last 40 years here, at least. As the public servants, wall street, banksters, federal reserve, etc. have become more corrupt and unethical, they have abused the ability of the flawed debt system to extract ever increasing "productivity" (read slavery here) out of those living under the system. You fail to understand the meaning of "slavery" Slavery is forced servitude. People are not forced to go into debt ... Are you an ignorant arse? Right now, you are borrowing against your grandchildrens' childrens' future! Besides the amount of debt they are already born into ... Really? How does that work? Did anybody pay back the debt from WW2? I can't see how since the debt has been continually growing ever since From your viewpoint did my Grandparents borrow against my future? I mean really how are my Grandchildren any different than my grandparents? I don't get how my grandparents enslaved me? So enlighten this ignorant arse as to how my Grandparents did me so wrong. Did they put me in slavery? I do see that if the people of the US all suddenly go crazy and decide to pay off the Federal debt as fast as possible it will be disastrous we will be quickly impoverished without currency or goods Doing that would no doubt leave us with no money and scrounging for bugs in the dirt So is that what you are worried about? Are you worried that we will all lose our minds? Maybe so, but I don't see that gold has ever helped anybody keep their sanity All the evidence I see suggests the opposite Well, damn idiots can claim anything they want, sure as hell obvious you don't have an accountant or financial advisor! ... makes no difference to me. Regards, JS |
#8
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Only an idiot can't See Sarah Palin as a Loser....
On Jul 3, 4:43*pm, John Smith wrote:
On 7/3/2011 10:14 AM, jim wrote: John Smith wrote: It has enslaved people to debt for the last 40 years here, at least. *As the public servants, wall street, banksters, federal reserve, etc. have become more corrupt and unethical, they have abused the ability of the flawed debt system to extract ever increasing "productivity" (read slavery here) out of those living under the system. You fail to understand the meaning of "slavery" Slavery is forced servitude. People are not forced to go into debt ... Are you an ignorant arse? Right now, you are borrowing against your grandchildrens' childrens' future! *Besides the amount of debt they are already born into ... If you don't understand that, come back when you do. If you don't think you can be enslaved by debt, you are a moron twice over. |
#9
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Only an idiot can't See Sarah Palin as a Loser....
On 7/3/2011 8:43 PM, Too_Many_Tools wrote:
On Jul 3, 4:43 pm, John wrote: On 7/3/2011 10:14 AM, jim wrote: John Smith wrote: It has enslaved people to debt for the last 40 years here, at least. As the public servants, wall street, banksters, federal reserve, etc. have become more corrupt and unethical, they have abused the ability of the flawed debt system to extract ever increasing "productivity" (read slavery here) out of those living under the system. You fail to understand the meaning of "slavery" Slavery is forced servitude. People are not forced to go into debt ... Are you an ignorant arse? Right now, you are borrowing against your grandchildrens' childrens' future! Besides the amount of debt they are already born into ... If you don't understand that, come back when you do. If you don't think you can be enslaved by debt, you are a moron twice over. Regards, JS- Hide quoted text - - Show quoted text - I think you are the ignorant arse. Where were you when Bush blew the first TRILLION and plunging the Country into the worst recession we have ever seen? TMT Where were you when reagan tore off all the controls and turned the bull loose for the banksters and wall street to rape us? Where where you when clinton signed in NAFTA & GATT? What, are you a stupid retard that roots for the republicrats or the democans ... they both take orders from the same bosses ... Regards, JS |
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