12 Scray facts about the US debt.

[NCRAVEN]

Some of these are just plain crazy.

http://finance.yahoo.com/news/12-sca...-for-2012.html

8. The U.S. national debt rises at an average of approximately $3.8 billion per day.

9. The US government now borrows approximately $5 billion every business day.

10. A trillion $10 bills, if they were taped end to end, would wrap around the globe more than 380 times. That amount of money would still not be enough to pay off the U.S. national debt.

12. The U.S. government has to borrow 43 cents of every dollar that it currently spends, four times the rate in 1980.

[AirFlacco]

Someone suggested that a debt counter be placed in both houses of
Congress just to remind them how much their spending and how fast
the debt is rising per second.

It's interesting you started this thread because I've been reading about the
history of our debt and the Federal Reserve System on the other thread
It is a system of 12 banks. They're private and there are 8 major share
holders including the Rothchilds, the biggest bankers in the world from
England, Rockefeller, Goldman-Sachs and Lehman Bros, all big players
in the TARP buyouts.

Andy Jackson is the only president to ever pay off the country's debt and
he hated banks. Every president that tried to stop the Federal Reserve
Bank has been assassinated or attempts have been made.

Abraham Lincoln hated the banks and said I have two armies to fight. The
Southern Army in front of me and the banks behind me. Lincoln was
assassinated shortly after that and Congress revoked the Greenback Law and enacted, in its place, the National Banking Act supporting privately owned national banks.

On June 4, 1963, President Kennedy signed a Presidential decree, Executive Order 11110. This order virtually stripped the Federal Reserve Bank of its power to loan money to the United States Government at interest. President Kennedy declared the privately owned Federal Reserve Bank would soon be out of business. This order gave the Treasury Department the authority to issue silver certificates against any silver in the treasury. This executive order still stands today. In less than five months after signing that executive order President Kennedy was assassinated on November 22, 1963.

An attempt to kill Andy Jackson was made for letting the national bank
expire. The first national bank was formed by Alexander Hamilton and
he got Wash to sign off on the legislation. That centralized our money
and started the debt process.

That bank folded when James Madison let the charter expire. Another started
and Andy Jackson let it's charter expire and it stayed that way til 1913 when
Woodrow Wilson signed the Federal Reserve Act and then after realizing
what he had done, he said he betrayed his country.

Henry Ford said it's the good thing the public doesn't understand money or
there would certainly be a revolution by tomorrow morning.

As JonBoy and I said before the first TARP was issued, it would increase
inflation and debt and it has. Food prices have risen by over 20%
and gas prices have risen by 40% since OBY came.

The one thing we got that most countries don't is gold - about $261B worth
at Ft Knox and in Denver. The gold is backing the currency but as the gov't
continues to borrow from other countries like China and Japan that gold
reserve won't last especially as the dollar continues to fall.

That's why gold has risen from $700 pr ounce in 08 to almost $2,000 pr
ounce now. People buy gold betting that the dollar will
fall as ours has been falling more rapidly since OBY came in.


Here's an interesting link on how debt works. Link is a couple of
years old but still relevant.


Oh yea, even Reagan was shot after trying to streamline the Federal
Reserve Bank like JFK.

_____________________________________

The financial events of the past year demonstrate beyond any reasonable doubt that the United States government is now of Wall Street, by Wall Street and for Wall Street, in general, and of, by and for Goldman Sachs, in particular. This inversion of power and privilege was partly brought about by an explosion in government debt. The government relies on Wall Street to roll over existing and sell new debt issues. Debt is now hitting the market like a tidal wave, given the country's record-shattering deficits and costly Wall Street bailouts. If the paper cannot be sold at expected interest rates, then the debt-addicted system will go into seizure.

______________________________________________


See Greece.
http://www.sodahead.com/united-state...estion-548289/

[NCRAVEN]

I know the Federal Reserve is the reason I buy gold.

People look at me odd like I am some sort of homeless guy holding a sign that says "The End is near" when I say I buy gold cause I don't have faith in the dollar.

Like the Henry Ford quote, people just don't understand money.

[Galen Sevinne]

I know the Federal Reserve is the reason I buy gold.

People look at me odd like I am some sort of homeless guy holding a sign that says "The End is near" when I say I buy gold cause I don't have faith in the dollar.

Like the Henry Ford quote, people just don't understand money.

of course you buy gold. do you buy kerosine?

[NCRAVEN]

of course you buy gold. do you buy kerosine?

Well, Great and power Galen. Should I not invest in Gold?

[Galen Sevinne]

Well, Great and power Galen. Should I not invest in Gold?

I guess you should since the marxists are trampling all over your constitution and America will never be the same and all is going up in flames around you.

I think Glenn Beck offers a package that included a couple handfulls of Krugerrands, a couple gallons of Kerosine and a couple packages of freeze-dried food. He's a trustworthy fella. He let me look right into his eye once on t.v.

I don't think I would be buying gold coming out of a recession especially with it being at record highs lately. Corporations are sitting on trillions of dollars and they are just starting to feed it back into the economy. We are probably sitting at the beginning of a 10 year economic growth period right now especially when the housing market resettles.

I'm the optimist though. Optimists aren't gold buyers generally.

[NCRAVEN]

I don't think I would be buying gold coming out of a recession especially with it being at record highs lately. Corporations are sitting on trillions of dollars and they are just starting to feed it back into the economy. We are probably sitting at the beginning of a 10 year economic growth period right now especially when the housing market resettles.

I'm the optimist though. Optimists aren't gold buyers generally.

There is a difference between being an optimist and being delusional.

Even IF we were at the beginning of a economic growth period (and to even state that is ignoring reality). With the Government spending and borrowing record amounts... do you think gold would go down in value?

[Galen Sevinne]

There is a difference between being an optimist and being delusional.

Even IF we were at the beginning of a economic growth period (and to even state that is ignoring reality). With the Government spending and borrowing record amounts... do you think gold would go down in value?

It is not ignoring reality to state that corporations are sitting on around 2 trillion dollars waiting to invest. Consumer confidence has risen five months in a row. Jobless claims have shrunk five months in a row. GM is adding shifts and reporting record sales. Inflation is steady.

Ignore all that if you want.

Also the government is NOT spending and borrowing at record amounts and what they are borrowing and spending will slow down as companies start spending money again. It is not having nearly the effect the conservative base would want you to believe. Inflation is stable by all accounts.

Hey if you want to go buy gold at $1800 a ounce, by all means go buy. I don't see many financial people making that recommendation.

[NCRAVEN]

It is not ignoring reality to state that corporations are sitting on around 2 trillion dollars waiting to invest. Consumer confidence has risen five months in a row.

For someone who touts their intelligence so often, you sure do play stupid a lot. You’re ignoring reality by saying we are probably at the being in of a 10 year growth period.

Jobless claims have shrunk five months in a row.

So? What does that prove?

GM is adding shifts and reporting record sales.

So? How does that show improvement in the economy?

You aware Toyota and Honda’s sales slumped due to the earthquake in Japan. Those sales went somewhere… but I can’t think of where, can you?

Inflation is steady.

Steady doesn’t mean it’s not high.

And I don’t know for certain, but I believe Gas and Food are not counted in inflation.

Also the government is NOT spending and borrowing at record amounts and what they are borrowing and spending will slow down as companies start spending money again

Bullshit. They borrow 43 cents of every dollar they spend. The current annual deficit is over a trillion dollars.

Saying that the Government will slow down spending (and borrowing) is a ridiculous statement, even for you. Especially considering how much Obamacare will cost if it’s not deemed unconstitutional.

And how do you think they’ll pay for all this? Borrow maybe?
http://www.usatoday.com/news/washing...security_n.htm

Hey if you want to go buy gold at $1800 a ounce, by all means go buy. I don't see many financial people making that recommendation.

Forgive me, I should have said why I own gold. Occasionally, if it is cheap enough and I notice, I will still buy it. I think it has gone down to 1700 today. More recently I prefer silver since it’s not nearly as expensive and if it goes down I've lost $30 and not thousands.

[AirFlacco]

Did Galen actually say the gov't was gonna slow down spending?

And he's the guy who said he never took Economics in college an doesn't
understand it.

Why do you think OBY and the libbies insisted on raising the debt ceiling
and got the GOPs to cave in and give it to them by threatening to close
down the gov't and stop SS checks to the old people and the military's
pay checks - checks to the very guys that are dying in Afghanaston for
the hamster himself.

This is too funny. OBYs spending has raised the debt by $4T in just
3 years.

The country including Galen crucified Paul Ryan for the audacity of
presenting a plan to actually cut the spending. And this is from the
DEMs own govt run CBS NEWS - the white house branch.


http://www.outsidethebeltway.com/nat...esident-obama/

[AirFlacco]

Food and gas prices are certainly factored with inflation although it might
be down played because according to this link prices for raw materials
will diminish. Yea sure.

I got cost of living increases in both my SS and pension checks because
of inflation due to food and gas. They specifically said because of gas.

That is one natural resource that is going up like crazy and could hit
$5 this summer, just like Gore said it should.


http://abcnews.go.com/Business/wireS...8#.Tz7d0WjlYmF

[Galen Sevinne]

Why do you think OBY and the libbies insisted on raising the debt ceiling
and got the GOPs to cave in and give it to them by threatening to close
down the gov't and stop SS checks to the old people and the military's
pay checks - checks to the very guys that are dying in Afghanaston for
the hamster himself.

Raising the debt ceiling has long been a routine process; a process that never even made the news in the past. That legislative process was the beginning of the Republican downfall this election cycle.

This is too funny. OBYs spending has raised the debt by $4T in just
3 years.

Nope.. He definitely has not.

The country including Galen crucified Paul Ryan for the audacity of
presenting a plan to actually cut the spending. And this is from the
DEMs own govt run CBS NEWS - the white house branch.

Paul Ryan didn't want to "cut spending" he wanted to end Medicare forcing senior citizens to pick up over half of their medical costs. This will never happen. It is an outrageous idea.