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Scott
question
with all this increasing impossible debt. the question that kept gnawing is why would goverment just keep this path.
then i came across this point of view which sounds interesting
what are your thoughts???
so is this debt an illusion???
love to hear other views also to get perspective.
the U.S. in my current knowledge does NOT print money a private bank does this (FED) and lends the U.S. the money
very confusion
thanks
my friend;
see if you can follow and understand the numbers
the interesting ones are in “RED”
The fact of the U.S. national debt is beyond dispute. Over the course of many years, successive governments (presidential administrations and congresses “working together”) have spent more money than the revenues they have raised. To finance those expenditures, Treasury securities (bonds, bills, notes, etc) have been sold to various parties.
The size of the national debt is, however, less clear. The simplest way to look at it is to count up all the Treasury securities outstanding (held by other entities, that is) plus all the unpaid interest that will eventually have to be paid and state that number as the size of the national debt. But there’s a catch.
The Social Security law mandates that all income to the Social Security Trust Fund in excess of current needs be invested in Treasury securities. So the single largest holder of Treasury securities is . . . (are you ready for it?) . . . the U.S. government itself. Yup, the government owes itself more money than it owes to anyone else.
And the irony of this situation is that, as the economy improves, as more people go back to work and pay the Social Security payroll tax, the more Treasury securities the Social Security Trust Fund will have to buy and the larger will become the national debt.
If the total of outstanding Treasury securities is (say) $16 billion but (say) $8 billion of that is held by the Social Security Trust Fund, then the net U.S. national debt is actually $8 billion, not $16 billion — for now.
The looming problem, currently projected to hit the fan around 2016, is that the revenue coming into the Social Security Trust fund from payroll taxes will no longer be enough to pay Social Security’s ongoing obligations. At that time, the Trust Fund will have to turn to Treasury and begin redeeming some of those securities it has been buying all these years. Of course, if the economy continues to improve and payroll tax revenues increase, that date will move farther into the future. And if the economy worsens, the date will move up.
Whenever Social Security begins to redeem its Treasury investments, those redemptions will be a significant drain on federal resources since they will have to be paid from then-current revenues which cannot also be used for other governmental purposes.
[quote=”davidd”]the U.S. in my current knowledge does NOT print money a private bank does this (FED) and lends the U.S. the money
[/quote]I agree davidd…
“Some researchers are pointing out that Iran is one of only three countries left in the world whose central bank is not under Rothschild control. [url=http://americanfreepress.net/?p=2743]Before 9-11 there were reportedly seven:[/url] Afghanistan, Iraq, Sudan, Libya, Cuba, North Korea and Iran. By 2003, however, Afghanistan and Iraq were swallowed up by the Rothschild octopus, and by 2011 Sudan and Libya were also gone. In Libya, a Rothschild bank was established in Benghazi while the country was still at war.”
Fascinating huh?
And [url=http://www.thedailybell.com/4346/Ron-Holland-Remembering-100-Years-of-Conquered-Rule]Ron Holland[/url] summed this up perfectly just yesterday …
“One hundred years ago the American republic was overthrown and captured by financial elites and money power during the Taft and Wilson administrations, the first Republican and the second Democrat. Both the Federal Reserve and federal income tax were born and you know the rest of the story consisting of two world wars, the Great Depression and stock market crash, the rise of communism and fascism and the Cold War. Since that time directed current events, history and financial markets have ruled at the expense of free markets and free people.”
[quote=”bogino”][quote=”Scott”]PS. What does this have to do with Costa Rica?
[/quote]
Absolutely Nothing.[/quote]
I have to disagree
since costa rica themselves buy U.S dollars just to keep some sort of stability for the colon. in fact they recently just bought a specific amount of dollars for this reason.
as it gets out of hand.. since tourist pay in dollars and tourism is one of costa rica major revenue stream I see this as being on point.
am I wrong Bogino???
if the the purchasing power of the dollar goes less and less here in costa rica it would make sense that less tourist will come here.
I remember the impact of 9/11 here and all the hotels and employee’s costa rica took a huge hit.
[quote=”bogino”][quote=”Scott”]PS. What does this have to do with Costa Rica?
[/quote]
Absolutely Nothing.[/quote]
if USA implodes, it will have an effect on the rest of the world due to the massive size of the USA economy, trade, the floating of the USA dollar,etc….plus, the amount of expats in the CR, esp dependant on Social Security,etc could affect, if not health (CAJA would likely be primary for most Expats for any treatment), would affect the dollar and its spending and worth..esp if CR and otehrs take a dimmer view of trading with and using USA dollars, not sure and would yield to Scott on this, but would think that CR, China and others could dump the dollar for the Euro or Chinese money, etc…if the USA was the size of say, San Marino ( sound economy I understand), the effects would be extremely minimal…..trade, import, export could really hurt CR and the rest of the C/S American states….
[quote=”davidd”][quote=”bogino”][quote=”Scott”]PS. What does this have to do with Costa Rica?
[/quote]
Absolutely Nothing.[/quote]
I have to disagree
since costa rica themselves buy U.S dollars just to keep some sort of stability for the colon. in fact they recently just bought a specific amount of dollars for this reason.
as it gets out of hand.. since tourist pay in dollars and tourism is one of costa rica major revenue stream I see this as being on point.
am I wrong Bogino???
if the the purchasing power of the dollar goes less and less here in costa rica it would make sense that less tourist will come here.
I remember the impact of 9/11 here and all the hotels and employee’s costa rica took a huge hit.
[/quote]as I am dependant on the USD, and am spending same or exchanging for Colon when I come in 2 weeks, my buying power and even, ability to afford to come to CR and still buy food,pay bills is a big factor…..
[quote=”Scott”] [url=http://americanfreepress.net/?p=2743]Before 9-11 there were reportedly seven:[/url][/quote]
thought this was interesting and telling:
“Islam forbids the charging of interest, a major problem for the Rothschild banking system. Until a few hundred years ago, charging interest was also forbidden in the Christian world and was even punishable by death. It was considered exploitation and enslavement.”In Catholic Social Teaching, its called Usury and it still is on the books as wrong and sinful, though 99% of Catholics either do not know it or, care….part of sins that cry out for vengeance…
[quote=”camby”][quote=”Scott”] [url=http://americanfreepress.net/?p=2743]Before 9-11 there were reportedly seven:[/url][/quote]
thought this was interesting and telling:
“Islam forbids the charging of interest, a major problem for the Rothschild banking system. Until a few hundred years ago, charging interest was also forbidden in the Christian world and was even punishable by death. It was considered exploitation and enslavement.”In Catholic Social Teaching, its called Usury and it still is on the books as wrong and sinful, though 99% of Catholics either do not know it or, care….part of sins that cry out for vengeance…
[/quote]
you can also add that in the one instance ( correct me if I am wrong) in the bible when Jesus got angry was driving the money changers out of town
am I right on this??
davidd, I don’t know how many times Jesus became angry or how many times his anger was recorded in the Bible, but he drove the moneychangers out of the temple, not out of town.
[quote=”davidd”][quote=”camby”][quote=”Scott”] [url=http://americanfreepress.net/?p=2743]Before 9-11 there were reportedly seven:[/url][/quote]
thought this was interesting and telling:
“Islam forbids the charging of interest, a major problem for the Rothschild banking system. Until a few hundred years ago, charging interest was also forbidden in the Christian world and was even punishable by death. It was considered exploitation and enslavement.”In Catholic Social Teaching, its called Usury and it still is on the books as wrong and sinful, though 99% of Catholics either do not know it or, care….part of sins that cry out for vengeance…
[/quote]
you can also add that in the one instance ( correct me if I am wrong) in the bible when Jesus got angry was driving the money changers out of town
am I right on this??[/quote]
out of the Temple, true enough, not sure on town. They were notorious for money scams and fraud, much like Rothchilds of today. OT had a lot of info on money and debt, here is a short article I fellow I know wrote some years back:
http://www.medaille.com/sabbath%20land%20and%20royal%20land.pdf
main site at that time (now not active): http://www.medaille.com/distributivism.htm
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