Why do we pay taxes?
Well for me it was so the sick can be heeled , the young can be educated ,the elderly can be given digfnity in thier twilight years and the general national infrastucutre can be maintained for the good of all.
I have no problems paying taxes for these good and decent reasons.
BUT OUR GOVERNMENT REPRESENTATIVES AND THE WORLD BANK AND IMF DO NOT THINK TAXES ARE FOR THESE THINGS. IN FACT THEY HAVE TOLD EUROPEAN GOVERNMENTS NOT TO SPEAND TAXES ON THESE “WASTEFUL” THINGS!!! AUSTERITY MEASURES THEY CALL IT!!!!!
BUT the government believes OUR TAXES are for ILLEGAL wars of aggression ,fought for the benefit of big Business and the Israel lobby.So instead of healthy ,educated youths and dignified OAPs ,the government spent it on a pile of dead and mutilated bodies and trained psychotic killers. Great value for money ,….. and of course Afghanistan and Iraq where a BIG threats to the UK and USA and these actions of slaughtering and torturing the locals is reducing terrorism….BUT THAT IS WHAT OUR GOVERNMENT IS TELLING US!!!
“Those that give up liberty for security,.. deserve,…and will end up with, …neither’
Also according to our government representatives OUR TAXES are for bailing out incompitant and irresponsible bankers ,who by thier own rules of capitalism should be bankrupt.Why didn’t we bailout the car industry or the steel or coal industry , at least they manufactured something that we could sell! Why are we bailing out incompitant bankers?!? Won’t they just do the same thing again, this is NOT the first time these people have put us in this situation! and I don’t think the world will be happy investing in the UK or USA while it is being run by the same bunch of irresponsbile and corrupt individuals!!! BUT THE GOVERNMENT SEEMS TO THINK IT WILL!!
Don’t we want responsible financial operators instead? But then I don’t want to be run by the Chinese Communist Party which suprisinigly have turned out to be the best venture capitalists on the planet!!!
I HAVE BIG PROBLEMS PAYING TAXES FOR THESE “GOVERNMENT” REASONS!!! IN FACT IF ITS AN ILLEGAL WAR , WE SHOULD BE ABLE TO SUE BLAIR AND THE OTHER LIARS AND WAR CRIMINALS FOR THE COSTS!!
THUS RELIEVING A LOT OF UK DEBT, WHICH IS NOT THE TAXPAYERS RESPONSIBILITY. THE NATION SHOULD DEFAULT TODAY , LET THE BANKS FALL ,NOT THE PEOPLE BE SOLD IN DEBT SLAVERY!!!
THE PRIVATE BANKERS AND THIER PRIVATE INVESTORS HAVE ALSO RUN UP DEBTS ILLEGALLY . THESE DEBTS ARE NOT THE TAXPAYERS , THE IRRESPONSIBLE BANKS SHOULD BE ASSET STRIPPED AND THIER OWNERS TAKEN TO COURT FOR FRAUD CHARGES!! THATS WHAT HAPPENS TO IRRESPONSIBLE BUSINESSES IN FREE MARKETS!!!
A LESSON FOR THE BRIGHTEST AND THE BEST. FREE MARKET CAPITALISM EXPLAINED its not that difficult , so you see we do not need the brightest and the best.
1.Availability of credit allows money to flow between savers and borrowers.
2.Resources and funds are allocated to various projects or investments during a boom phase.
3.Eventually borrowing becomes excessive and leads to malinvestment,
4.At this stage, adherence to free market theory would allow for an efficient cleansing period and a healthy recovery period. How? Irresponsible and unprofitable businesses fail. Bad debts get liquidated. Excess resources go on sale, flow into more stable ventures and pool together with more profitable resources controlled by healthy corporations or entities
NEWSFLASH , UK ,USA BANKS FOUND TO BE UNPROFITABLE AND IRRESPONSIBLE . THEREFORE YOU GET ASSET STRIPPED AND REPLACED BY RESPONSIBLE AND PROFITABLE BUSINESS MODELS!!
ACTUALLY WESTERN BANKERS COMMITTED FRAUD ON A GRAND SCALE AND SHOULD BE IN JAIL AND SUED FOR DAMAGES!!!
ECUADOR ,THEY DECLARED THE DEBT ILLEGAL!! THEY ARE NOW DEBT FREE!!
In November 2008, Ecuador became the first country to undertake an examination of the legitimacy and structure of its foreign debt. An independent debt audit commissioned by the government of Ecuador documented hundreds of allegations of irregularity, illegality, and illegitimacy in contracts of debt to predatory international lenders. The loans, according to the report, violated Ecuador’s domestic laws, US Securities and Exchange Commission regulations, and general principles of international law. Ecuador’s use of legitimacy as a legal argument for defaulting set a major precedent; indeed, the formation of a debt auditing commission sets a precedent.
ICELAND JUST REFUSED TO PAY THE DEBT AND ARRESTED THE FRAUDULENT BANKERS. ICELAND TOO IS DEBT FREE!!!!…. BUT THAT IS DIRECT DEMOCRACY FOR YOU!!!
The(Icelandic) government opposed the idea of a direct democratic decision.
Until the last minute the government had tried to discourage the voters from voting. The Prime Minister and the Minister of Finance both said they would not participate in the referendum. They saw it as a “waste of money” and a “farce”!!! … (and paying for other peoples debts is non-farcical and good value for money?!? maybe its the Icelandic government that is a farce and a waste of money! IMHO its certainly is in the UK and USA)
The Icelandic referendum, the voice of the people against the blackmailing power of the international financial elites might now have become precedent for other countries in similar situations.
What the bankers seem to fear above all things is a direct democracy in financial matters.
And no doubt that´s quite a reasonable fear, for such a democracy would lead to more and more people getting informed about financial matters and the money-creation process itself.
The knowledge about this process coupled with the instruments of a direct democracy would lead eventually and without any doubt to a monetary reform and a loss of power for the international bankers.
THE ICELANDIC GOVERNMENT WANTED TO TURN THE PEOPLE INTO DEBT SLAVES, FORTUNATELY THE “DIRECT DEMOCRATIC” ICELANDIC PEOPLE SAID “NO” AND ARRESTED THE BANKERS WHILE THE PREVIOUS GOVERNMENT POLITIONS FLED!!
Iceland: Int’l Arrest Warrant Against Top Bank Official
by Lowana Veal (reykjavik)Wednesday, May 12, 2010
Inter Press Service
Vigorously pursuing those allegedly responsible for Iceland’s 2008 financial crisis, investigators have got issued an international arrest warrant against Sigurdur Einarsson, chairman of the board of governors of the failed Kaupthing Bank.
An Interpol notice on Tuesday said Einarsson was wanted on charges of counterfeiting, forgery and fraud.
Einarsson, who lives in London, was said to be reluctant to come to Reykjavik for fear of being arrested and Icelandic authorities have refused to offer any assurances.
Yet another day of Iceland banking arrests
Posted on11 May 2010.
Ingolfur Helgason, the former Director of Kaupthing Iceland, and Steingrimur Karason, former CEO of the bank’s risk management department, were both arrested today upon arriving back in Iceland. They went straight to interrogation with the Special Prosecutor and are being held in police cells.
Bankers jailed, sued as Iceland seeks culprits for crisis
Since Iceland’s three largest banks — Kaupthing, Landsbanki and Glitnir — collapsed in late 2008, their former executives and owners have largely been living untroubled lives abroad.
But the publication last month of a parliamentary inquiry into the island nation’s profound financial and economic crisis signaled a turning of the tide, laying much of the blame for the downfall on the former bank heads who had taken “inappropriate loans from the banks” they worked for.
On Wednesday, the administrators of Glitnir’s liquidation announced they had filed a two-billion-dollar (1.6-billion-euro) lawsuit in a New York court against former large shareholders and executives for alleged fraud.
Reykjavik, Iceland; 4:00 UTC, June 16th 2010.
The WikiLeaks advised proposal to build an international “new media haven” in Iceland, with the world’s strongest press and whistleblower protection laws, and a “Nobel” prize for for Freedom of Expression, has unanimously passed the Icelandic Parliament.50 votes were cast in favor, zero against, one abstained. Twelve members of parliament were not present.
Vote results are available at http://www.althingi.is/dba-bin/atkvgr.pl?nnafnak=43014
BUT THE UK,USA AND THE EU ARE REPRESENTATIVE DEMOCRACIES, SO NO VOTE FOR THE COMMON MAN IN THE UK ,USA AND EU.ENJOY YOUR FREEDOM PEASANT AND PAY YOUR TAXES!! BUT I DO NOT WANT SOMETHING THAT REPRESENTS DEMOCRACY , I WANT DEMOCRACY!!!!
BUT GOVERNMENTS LIE , LIE AND LIE AGAIN.”REPRESENTATIVE DEMOCRACY” IS A FAILED EXPERIMENT. IT HAS BECOME STATE CAPITALISM .
It is only FASCISTS that believe in government. Todays politions ,leftwing or rightwing ,are ALL STATE CAPITALIST FASCISTS. The only difference is one side prefers BIG GOVERNMENT and the other prefers BIG CORPORATIONS. The 2 cheeks af the same arse. Can YOU REALLY tell the difference?
State capitalism has various different meanings, but is usually described as a society wherein the productive forces are controlled and directed by the state in a capitalist manner, even if such a state calls itself socialist. Corporatized state agencies and states that own controlling shares of publicly-listed firms, and thus acting as a capitalist itself, are two examples of state capitalism
OF COURSE THIS IS JUST FASCISM!!
Fascism should more appropriately be called corporatism because it is the merger of state and corporate power.
Benito Mussolini, fascist dictator of Italy (1922-1943)
WE modern civilised people , look down ours noses at Aztecs that practiced human sacrifice. They slaughtered 10,000′s of people in the belief that if they did not ,thier civilisation would end. WE have murdered over a million in Iraq alone , purely because WE believe that if we do NOT , our western civilisation would end! What pathetic primitive tribal barbarians we still are , just with bigger sticks!!
We think we are clever , classless and free…….but we are still fuckin peasants as far as I can see. …… and fascist ones at that!!
John Lenon – Working Class Hero
REPRESENTATIVE DEMOCRACY (STATE CAPITALISM) IS TOTALLY CORRUPT TO ITS CORE, IT PROTECTS PAEDOPHILES ,FRAUDSTERS AND CONSTANTLY STARTS WARS!! HITLER WAS VOTED INTO POWER BY A RESPRESENTATIVE DEMOCRACY , G.W. BUSH WAS VOTED IN TWICE!! TODAY THE UK GOVERNMENT REPRESENTATIVES HAVE JUST HANDED THE PEOPLE A £78,000 DEBT FOR UK EVERY HOUSEHOLD………THE PEOPLE DID NOT CREATE THIS DEBT ,THEY ARE NOT RESPONSIBLE FOR THIS DEBT….ENJOY YOUR DEBT SLAVERY PEASANTS!!!!
“Democracy is a form of government that cannot long survive,for as soon as the people learn that they have a voice in the fiscal policies of the government,they will move to vote for themselves all the money in the treasury, and bankrupt the nation.”
TODAY THE GOVERNMENT IS LYING TO US WHILE IT QUIETLY LOOTS THE NATION!
UK debt is ‘twice as much as we thought’
12 July 2010, 7:37am
The true scale of the national debt is £2 trillion – more than twice the official figure, an alarming study shows.
Burden: Paying for civil service pensions will swell UK debts.
The black hole in the public accounts equates to £78,000 for every household in the country.
The ‘real’ state of the national finances is exposed in a study published today by the Centre for Economics and Business Research, which warns of a series of mammoth debts that aren’t revealed by the official figures.
The national debt – forecast to reach £932m by next spring – does not include a number of expensive liabilities, such as the cost of civil service and town hall pensions and projects funded under the Public Finance Initiative.
Putting these liabilities into the official figure would add £1.13 trillion to Britain’s whopping overdraft, according to CEBR.
Under the worrying scenario, the debt would jump from 62% to 138% of Britain’s income.
In its study, CEBR warned that the Government cannot formulate a plan to revive the economy while the liabilities remain hidden.
Charles Davis, an economist at CEBR, said: ‘Clarity and transparency on the public sector finances has never been more vital in the context of recent concerns over public sector debt, particularly in the advanced economies.’
The report, which found that public sector pensions are by far the biggest liability excluded from the official record, will provide ammunition for the Government as it prepares to slash civil service pay and perks.
Unfunded public sector and local government pension liabilities, which the Government will need to pay in the future, amount to a staggering £1.08 trillion, according to CEBR.
Also written out of the accounts are the full cost of projects financed through the PFI, which by CEBR’s calculation adds a further £43bn. So-called contingent liabilities, such as Network Rail, add £2bn to the total.
Read more: http://www.thisismoney.co.uk/news/article.html?in_article_id=508582&in_page_id=2&ito=1565#ixzz0tXXJayRD
BUT FOR GOVERNMENT A SCARED AND IGNORANT POPULATION IS BEST. A CONFIDENT AND EDUCATED PEOPLE DO NOT NEED GOVERNMENT STICKING THIER NOSES INTO THIER LIVES!! IGNORANCE PRODUCES PROFITS AND THE IGNORANT CAN BE MADE TO BELIEVE ABSURDITIES AND THEN WILL COMMITT ATROCITIES
“Sell a man a fish, he eats for a day, teach a man how to fish, you ruin a wonderful business opportunity.”
THE BAILOUT WAS A SELL OUT FROM THE START AND HAS NOT A HOPE OF WORKING ,BUT THAT WAS NEVER THE POINT.THE BAILOUT SO FAR HAS JUST BEEN FOR LIQUID MONEY .THIS IS JUST THE TIP OF THE ICEBERG. THIS IS LIQUID LENDING MONEY, WE STILL HAVE THE ASSET MARKET
Trouble in Hedgefundistan: “Its gonna get a lot worse”
AND THE DERIVITIVES MARKETS TO BAILOUT!!!
Bailout Secret- To Prevent $68 Trillion Derivatives Collapse Chain Reaction
AND AFTER TRILLIONS OF DOLLARS IN BANKER BAILOUTS THERE IS NOTHING LEFT IN THE KITTY FOR THE AVERAGE JOE!
THIS WAS ALL ABOUT LOOTING THE NATION
Citigroup Warns Customers It May Refuse To Allow Withdrawals
“Effective April 1, 2010, we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change,” Citigroup said on statements received by customers all over the country.
OF COURSE CITIGROUP SAYS ITS NOTHING TO WORRY ABOUT
As we reported back in 2008, the Federal Deposit Insurance Corp., which guarantees individual accounts up to $100,000, only has about $50 billion to “insure” about $1 trillion in assets across the nation’s financial institutions.
This revelation prompted fears that an accelerating amount of bank closures could absorb FDIC funds and leave holders of money market and traditional savings accounts exposed.
BUT IN THE WEST US AND UK BUSINESSES ARE STILL DEVALUING!!!!!
Britain’s banks have been downgraded as credit risks by ratings agency Standard and Poors. This means they are no longer regarded as among the safest bets in the world.
General Electric lost its top credit rating from Moody’s Investors Service on Monday because of higher risks at the conglomerate’s struggling GE Capital lending unit.
THE CHINESES HAVE DE-VALUED THE WEST AND ITS ASSETS , NOTHING IS MENTIONED ON THE WESTERN MSM.
Chinese rating agency strips Western nations of AAA status
China’s leading credit rating agency has stripped America, Britain, Germany and France of their AAA ratings, accusing Anglo-Saxon competitors of ideological bias in favour of the West.
Dagong Global Credit Rating Co used its first foray into sovereign debt to paint a revolutionary picture of creditworthiness around the world, giving much greater weight to “wealth creating capacity” and foreign reserves than Fitch, Standard & Poor’s, or Moody’s.
The US falls to AA, while Britain and France slither down to AA-. Belgium, Spain, Italy are ranked at A- along with Malaysia.
Meanwhile, China rises to AA+ with Germany, the Netherlands and Canada, reflecting its €2.4 trillion (£2 trillion) reserves and a blistering growth rate of 8pc to 10pc a year.
Dominique Strauss-Kahn, chief of the International Monetary Fund, agreed on Monday that the rising East is a transforming global force. “Asia’s time has come,” he said.
The IMF expects Asia to grow by 7.7pc in 2010, vastly outpacing the eurozone at 1pc and the US at 3.3pc. Emerging nations hold 75pc of the world’s $8.4 trillion (£5.6 trillion) of reserves.
ANTI-UNIONISTS , SCOTTISH NATIONALISTS AND LIBERTARIANS SHOULD NOTICE SMALL COUNTRIES AND ECONOMIES ARE THE LEAST EFFECTED AND BEST SUITED TO RESPOND TO THE FINANCIAL TSUNAMI
Dagong rates Norway, Denmark, Switzerland, and Singapore at AAA, along with the commodity twins Australia and New Zealand.
Chinese president Hu Jintao said in April that the world needs “an objective, fair, and reasonable standard” for rating sovereign debt. Dagong appears to have stepped into the role, saying its objective was to assess countries using methods that would “not be affected by ideology”.
“The reason for the global financial crisis and debt crisis in Europe is that the current international credit rating system does not correctly reveal the debtor’s repayment ability,” said Guan Jianzhong, Dagong’s chairman.
The agency, known in China for rating companies, said its goal is to “correct the defects” of the existing system and offer a counter-weight to Western agencies.
Dagong appears to base growth potential on past performance but this can be misleading, especially in states enjoying technology catch-up. Japan was a high-flyer in 1970s and 1980s before stalling when the Nikkei bubble burst. It has been trapped in near perma-slump ever since.
China may start to face some of Japan’s demographic problems by the middle of this decade when the working age population peaks.
The Western rating agencies put a high value on a long-established rule of law and government institutions that have proved resilient over many decades, or even centuries. China’s political system may appear strong – as did the Soviet Union’s – but only time will tell whether its foundations are brittle. The violent upheavals of the Cultural Revolution are still a very fresh memory.
BUT ALSO THERE ARE WESTERN VOICES OF WARNING
Recession, Deflation and Deficits Economic Outlook 2010
Economics / US Economy
Jul 12, 2010 – 06:11 PM
This means that if an economy starts with real GDP of $14.3 trillion (i.e. the level for 2009), and it is shocked by a surge in deficit spending, such as has been the case in the U.S., GDP will grow, but the economy will then eventually return to essentially where it began. However, the deficit spending shock leaves the economy in a more precarious overall condition because the same sized economy must now support a higher level of debt. Additionally, the private sector’s share, which was 79.4% in 2009, will be reduced in favor of a larger governmental share, which was 20.6% in 2009.
Second, the other side of fiscal policy – taxes – also poses another major obstacle to a return to sustained economic growth. The scientific work indicates that the government tax multiplier has a negative impact on economic growth. Academicians estimate that the drag on the overall economy from a $1 increase in taxes is between $1 to $3 over time.
Third, the U.S. economy remains extremely over-indebted. In the first quarter, the total debt to GDP ratio was 357%, 100 percentage points higher than in 1998. The best scholarly work indicates that the process of over indulging on debt ends badly – economic deterioration, systematic risk and in the normative case deflation. The private sector has deleveraged slightly either due to conditions imposed by the capital markets or their own choice. Nevertheless, the private sector remains massively over-leveraged.
Fourth, monetary policy is not working in spite of the widespread contention that the Fed is wildly printing money. The line of reasoning by many observers is that the Fed’s actions will soon lead to faster economic activity but with rapid inflation.
BUT THANKS TO BIG GOVERNMENT AND BIG BUSINESS, THE STOCK MARKET IS STILL MANIPULATED AND HOPELESSLY OVERVALUED
Trader on Bloomberg says markets are manipulated and volumes ‘ficticious’.Not only are the new high tech/high speed transactions giving big banks an overwhelming trading advantage over retail investors, they’re also creating a false impression about the health of the stock market.
Stock Market 40% Over Valued, Hussman on Valutions and Earnings Estimates
Stock-Markets / Stock Market Valuations
Jul 13, 2010 – 01:38 AM
On a valuation basis, the S&P 500 remains about 40% above historical norms on the basis of normalized earnings. The disparity between our valuation assessment and the putative undervaluation being touted by Wall Street analysts is so great that a few remarks are in order. First, virtually every assessment that “stocks are cheap” here is based on the ratio of the S&P 500 to year-ahead operating earnings estimates, and often comes with a comparison of the resulting “earnings yield” with the depressed 10-year Treasury yield. What’s fascinating about this is that this is the same basis on which analysts deemed stocks to be about 40% undervalued just prior to the 2007 top, following which the market plunged by more than half. There’s a great deal of analysis regarding forward operating earnings that I published in 2007, but probably the most comprehensive piece was Long Term Evidence on the Fed Model and Forward Operating P/E Ratios from August 20, 2007.
THE FASCIST COUP IN AMERICA THIS TIME HAS BEEN SUCCESSFUL BUT IT HAS ALSO KILLED THE PATIENT!! OBVIOUSLY NOT THE BRIGHTEST OR THE BEST!!
Fascist Business System Breeds Corruption & Receivership
Politics / Credit Crisis Bailouts
Sep 24, 2008 – 02:56 PM
The Fascist Business Model has criminal fraud & corruption as its chief characteristic, alienation & resentment as its chief foreign effect, and systemic failure & collapse as its chief outcome.
Broad war often follows. How anybody could think the sharing of bank and oil executives with federal government leadership as a move toward progress on the evolution chart, that is moronic. Surely, it is about political power and corruption. The military budget is sacred, and private contractor deals are made without bids. Now five to six energy giants will hog all Iraqi oil service contracts. The terrorism topic is untouchable for dispute. A Coup d’Etat is in progress as the Wall Street con men and fraud kings have taken implicit control of the USGovt. This will be recognized in time, even while resistance is evident. To me the ongoing drama smacks of a comedy of corruption. US citizens are in shock & awe, while foreigners are aghast in disgust.
The United States has transformed itself, the most radical degraded aspects having occurred in the last eight years. Many might object or cringe at repeated mention of the Fascist Business Model implemented by the Clinton Administration, and carried to extreme by the Bush II Administration. It is a harsh departure from Beacon of Freedom.
Too bad, fact of life!
BUT THESE ARE NOT THE “BRIGHTEST AND BEST”. IN 1933 GERMAN FASCISTS TOOK A DEVISTATED COUNTRY AND ECONOMY AND WITHIN YEARS MADE A FASCIST STATE SUPERPOWER THAT NEARLY BEAT THE WORLD!! TODAY US/ZIONIST FASCISTS HAVE TAKEN A SUPERPOWER NATION AND WITHIN YEARS TURNED IT INTO A DEVISTATED COUNTRY.AFTER 9 YEARS THEY STILL ARE GETTING THIERS BUTTS KICKED IN AFGHANISTAN!!……BUT MAYBE DROPPING A MILLION DOLLARS OF CRUISE MISSILE ORDENANCE ON TWENTY DOLLARS OF REAL ESTATE WILL NOT WIN A WAR!!! ……….BUT IT MIGHT HELP EXPLAIN THE ECONOMY, STUPID!!!!
FOR THE USA, THE END IS NIGH…….CHINA IS RISING
Central banks start to abandon the U.S. dollar
There’s mounting evidence that central bankers have little faith in the greenback these days. Can we blame them?
by Heidi N. Moore, contributor
There are those who would argue that the financial crisis was caused by over-enthusiastic worship of the Almighty Dollar. Call it brutal financial karma, but that church is looking pretty empty these days.
A new report from Morgan Stanley analyst Emma Lawson confirms what many had suspected: the dollar is firmly on its way to losing its status as the reserve currency of the world. We already knew that central banks have preferred gold to dollars, and that they’re even selling their gold for cash; now, according to Lawson’s data, it seems that those central banks prefer almost anything to dollars.
Call it diversification, if you must, but the trendline indicates that central banks are finally putting their money where their anti-dollar mouths are. The dollar has been in free-fall since 2007.
And just last week, the United Nations released a report concluding that the dollar should no longer be the world’s reserve currency because it is not stable enough. The dollar is down 5% over the past month, and even currency traders don’t see it as a safe haven any more.
Just last week, America’s debt lept $166 billion in a single day. That one-day run-up is greater than the entire U.S. annual deficit in 2007.
Ferguson said the financial crisis that started in 2007 has “has accelerated a fundamental shift in the balance of power,” with the U.S. shedding power and China absorbing it.
“I’ve just come back from China — a two-week trip there — and the thing I heard most often was, ‘You can’t lecture us about the superiority of your system anymore. We don’t need to learn anything from you about financial institutions and forget about democracy. We see where it has got you.’”
The affable British scholar tried to keep it light. He used a stage whisper to tell the Aspen Institute audience, “I know you’re not comfortable with the word ‘empire,’ especially just after the Fourth of July, but you are the Redcoats now.”
He said the U.S. is now deeply in the red as a country because of a combination of the Great Recession, the resulting federal stimulus and financial bailout programs, two wars, the Bush tax cuts, and a growth in social entitlement programs.
And economic debt can lead to a sudden loss of military power and global respect, Ferguson said.
“By combating our crisis of private debt with an extraordinary expansion of public debt, we inevitably are going to reduce the resources available for national security in the years ahead,” Ferguson said. “Because as a debt grows, so the interest payments you have to make on it grow, even if interest rates stay low. And on current projections, the federal debt is going to be absorbing around 20 percent — a fifth of all the taxes you pay — within just a few years.
CHINA NOW CALLS THE SHOTS
IN THEORY BECAUSE OF CHINESE FINANCIAL DIVERSIFICATION (DUMPING DOLLARS) CHINA COULD DUMP ALL ITS $2 TRILLION ASSETS ON THE MARKET AND WATCH THE DOLLAR COLLAPSE OVERNIGHT AND END THE AMERICAN ECONOMY DEAD!!!! THE CHINESE WOULD SEE THIER NON-DOLLARS ASSETS RISE IN PRICE WITH THE DOLLAR COLLAPSE, IN THEORY CHINA COULD ACTUALLY MAKE MONEY DUMPING ITS DOLLARS!!!
THIS IS CHINA’S NUCLEAR OPTION!!!!
China Is Through Screwing Around, Seeks to Deploy Reserves to Buy Real Assets
Folks, China is through screwing around. They’ve made it clear that don’t HAVE to buy our debt and are quite comfortable putting their money to use elsewhere. The fact that the Fed is now buying Debt from the Treasury in this sneaky fashion makes it clear that without the Fed, we might have seen failed auctions.
And the dollar and Treasuries are on borrowed time. Indeed, the dollar may very well start the next wave of this financial crisis. If that happens, gold could very well explode through the roof.
U.S. Govt Yuan Bond Threat to U.S. Dollar
The Chinese are in town to meet with the USGovt officials on continued debt support. The public will surely NOT be told what is discussed. One informed contact wrote this morning that the US lies as a terminal patient in the Intensive Care Ward, and seeks a death with dignity from its Chinese creditor doctors. The challenge to China is to protect its main core of US$-based reserves, and to protect future investments.
The USGovt might soon issue bonds, except not in US$ denomination, but rather in Yuan currency. Out of the gate (with debt signposts), the USGovt must purchase gigantic swaths of Yuan and pay with USDollars. The result is a quantum decline in the US$ exchange rate
The USDollar exchange rate would fall with each debt issuance
The loan balance in USGovt debt would rise with a declining USDollar
The Yuan currency would be further established as a global reserve alternative
Continued trade settlement in Yuan terms would be enabled
Rise in entire cost structure to the USEconomy from commodity pricing
The risk of USTreasury Bond default grows with each passing new issuance
Rumors are ripe that in a March trip to Beijing, Secy State Hillary cut a deal promising Eminent Domain on US property in return for continued USTreasury Bond support. So maybe a shopping basket of thousands of homes, hundreds of commercial buildings, scads of idle industrial plants, and a few million acres of farmland are soon to be seized by the Chinese in exchange for USTreasury Bond debt. One must wonder. The American people, i.e. USA Inc shareholders, will be the last to know in this criminal syndicate environment, a hatched cloud from the Fascist Business Model. Seemingly on a quarterly basis, something must be handed to the Chinese for continued USTBond support. The USTreasury officials and USFed have lied through their teeth about avoiding direct monetization.
The US Embassy in Beijing confirmed the deal to the source. Hillary closed the deal. A quid-pro-quo agreement was struck, continued USTBond purchases in return for Eminent Domain option to exercise by China for property seizure, “ to physically take, inside the USA, land, buildings, factories, perhaps even entire cities.” The concepts of colonization and carpet-bagging should come to mind!
WELCOME TO THE CHINESE COMMUNIST REPUBLIC OF CALIFORNIA ,just around the corner if the US Government has its way.
THE YANKS BETTER START LEARNING CHINESE ,OR STOP LISTENING TO YOUR GOVERNMENT!!!! MAYBE THE REPUBLICS OF TEXAS , HAWAII , ALASKA , CALIFORNIA ,ARIZONA ,ETC. ARE THE WAY TO GO
BRITS , WE SHOULD JUST DISBAND THE HOPELESSLY INDEBTED UK PARLIMENT AND RELAUNCH THE REPUBLIC OF SCOTLAND WITH GOLD STANDARD SCOTTISH POUNDS AND THE KINGDOM OF ENGLAND WITH GOLD BACKED ENGLISH POUNDS!!! SAME ADVICE FOR MY CELTIC COUISINS IN WALES AND NORTHERN IRELAND ..WE COULD ALL BE DEBT FREE TOMORROW!!!
THE USA , UK , SPAIN AND AUSTRALIA the countries that all lead the call to WAR on Iraq and Afghanistan, ALL respresentative democracies .ALL LIED INTO WAR by thier government representatives. TODAY ALL HOPELESSLY IN DEBT! Today US and UK bankers demand bailouts and attack the PIGS (Portugal ,Ireland ,Greece and Spain) BUT WHY DO THEY FINANCIALLY ATTACK THESE COUNTRIES ? These countries do NOT have the debt of the USA ? BUT these countries are ALL leftwing libertarian governments that DO NOT SUPPORT THE WAR!! Italy used to be a little piggy but today is NOT,Italy used to be leftwing and anti-war,but today is not…. COINCIDENCE? War is a business racket!
“War is just a racket. A racket is best described, I believe,as something that is not what it seems to the majority of people.Only a small inside group knows what it is about. It is conducted for the benefit of the very few at the expense of the masses.”
I spent 33 years (in the Marines)…most of my time being a high-class muscle man for Big Business, for Wall Street and the bankers. In short, I was a racketeer, a gangster for capitalism… General Smedley Butler.
A SYSTEM OF DIRECT DEMOCRACY SHOULD REPLACE THE TOTALLY CORRUPT ELECTED DICTATORSHIP!!!
BTW TODAY THE USA HAS NO SPACE PROGRAM TO SPEAK OF. NASA HAS TO ASK RUSSIA IF IT WANTS TO PUT SOMEONE IN SPACE , IT HAS TO ASK EUROPE TO PUT SATELITES IN SPACE. HOW THE MIGHTY HAVE FALLEN , BUT I THINK THEY HAVE A LOT FUTHER TO FALL!!!!!
LETS HOPE SOME DELUSIONAL RELIGIOUS ZIONIST NEO-CON DOES NOT PUSH THE NUCLEAR BUTTON BELIEVING HE IS A “TOOL OF GOD”
WE HAVE BEEN HERE BEFORE , PLEASE TAKE ANDREW JACKSONS ADVICE!
“Never take counsel of your fears.”
The Jacksonians opposed government granted monopolies to banks, especially the national bank, which was a central bank known as the Second Bank of the United States. Jackson fought to end the government monopoly to the Bank and got great opposition from Nicholas Biddle, the bank chairman. Biddle first dismissed Jackson efforts, but as the initiative gained popular support, he got more concerned. There was an attempt to murder Jackson at that time but the pistols failed. Jackson would later claim that he had proof the bankers were behind this attempt. Jackson was able to gain popular support because the Bank money manipulations and inflation had created a big recession, and it had inflated land prices, benefiting big land owners and stopping economical development. In a last attempt to stop Jackson, Biddle burst the bubble his inflationary policies had created, and brought about a deflationary correction. This put pressure on Jackson, but after a year of recession, the economy was clean by the deflationary correction, and the Bank was out of “ammunition”. Jackson had won the battle. The Bank continued his operations as a state bank, but had to close years after. Once retired, everytime Jackson was asked what was his biggest achievement as president he answered: “I killed the Bank”.
ANDREW JACKSON was the ONE president that CLEARED AMERICAN DEBT ,when faced with financial ruin How did he manage it?
“The Bank is trying to kill me, but I shall kill it!”
ANDREW JACKSONS VIEW OF THE BANKS….NO BAILOUT.
“You are a nest of vipers and thieves, and by the grace of the almighty God, I will root you out!”
ANDREW JACKSON’S VIEW ON CORPORATIONS
Corporations have neither bodies to kick nor souls to damn.
ANDREW JACKSONS VIEW ON THE BRIGHTEST AND THE BEST
Hemans gallows ought to be the fate of all such ambitious men who would involve their country in civil wars, and all the evils in its train that they might reign & ride on its whirlwinds & direct the Storm– The free people of these United States have spoken, and consigned these wicked demagogues to their proper doom.
THE SIMPLE SOLUTION LIBERTARIAN SOCIALISM …THE REAL LIBERTARIANS!!!!
AND DIRECT DEMOCRACY ……NOT AN ELECTED DICTATORSHIP aka REPRESENTATIVE DEMOCRACY!!!
Direct democracy, classically termed pure democracy, is a form of democracy and a theory of civics in which sovereignty is lodged in the assembly of all citizens who choose to participate. Depending on the particular system, this assembly might pass executive motions, make laws, elect or dismiss officials, and conduct trials. Direct democracy stands in contrast to representative democracy, where sovereignty is exercised by a subset of the people, usually on the basis of election.
FINANCIAL SPOKESPERSONS RESPONDS
Financial Spokesperson No.1
“ROOLS?!?! We don’t need no stinkin ROOLS!!!”
Financial Spokesperson No.2
“OK everybody , just give us the money and no-one will get hurt!!!”
I used to think politions where useless until I realised they are biodegradable!!!
VIOLENCE BREEDS VIOLENCE
EDUCATION BREEDS UNDERSTANDING
PEACE TO EVERYONE