This entry was posted on Friday, July 29th, 2011 at 4:04 pm and is filed under United States.
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And this is exactly why the Tea Partiers need to take control of both Houses.
Fiscal responsibility is not extremism as so many lefties and members of the LSM would have you believe, it’s good old common sense.
There is no need for the government to borrow more money to be able to make payments on old debt.
The US Treasury does not need to borrow from the Federal Reserve. The US government does not need to “serve” the Federal Reserve.
The US Treasury can be authorized by Congress to print US Treasury notes (money) directly, like they used to do, and stop issuing Federal Reserve Notes.
In fact, all of the US debt can be retired entirely, all of it could be paid back immediately, merely by issuing new US Treasury notes (money, bills, dollars).
A little-known statute gives the secretary of the Treasury the authority to issue platinum coins in any denomination. So some commentators have suggested that the Treasury create two $1 trillion coins, deposit them in its account in the Federal Reserve and write checks on the proceeds.
Interesting video here about how members of US Congress are exempt from insider trading laws and are making a killing worth millions of dollars while the country goes down the tubes. It’s both Dems and Republicans, but the 41 Dems in Congress’ worth jumped 456%, and some of them up to 1000%
Paul.. I got the same message from my financial adviser.. who by the way is holding onto large stocks of physical silver and gold… are cheques still valid in the US.. I hear they have been put out of circulation in same western countries.
Manolo, perhaps there is a method in his madness. Everything the anointed one does brings America closer to the brink. I’m sure he would be just as happy to see the US default and place the blame squarely at the Republicans feet. At a recent town hall meeting Barry was talking about the current crisis. He went on to say “if I was a dictator”, interrupted by shouts of “yes you can” by hundreds of brain dead dribbling idiots who worship his every move. He’s a bad bastard and I wouldn’t trust him as far as I could spit.
I used to have this really good flash file app which had a chainsaw and a machine gun and lots of other pointy and painty weapons all with really good realistic sound effects which chopped up and hammered and smashed the desktop and it made me feel better I found, whenever Windows did something silly.
It would work with obnoxious blog posts that don’t agree with you as well, is the point.
Matter of fact that’s a billion download i-phone app if anyone knows how to re-create it.
America has been sold out and our new Chinese slavemasters are now leading the sheep to slaughter. Even as Barack Obama bows and fawns to President Hu Jintao, the globalists for whom he fronts are sharpening the knives and preparing to unleash the bloodletting as the dying carcass of America is dragged into line to facilitate the global management of the planet