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Thread: Fed said to have emergency plan to intervene "if" US defaults

  1. #41
    Quote Originally Posted by bitonti View Post
    the gov't can print it's own money therefore it can never actually default on it's debt
    So why even tax people?


  2. #42
    Quote Originally Posted by Frequent Flyer View Post
    So why even tax people?

    this is actually a decent question

    it goes back to the idea of America and why money has any value at all

    I'll ask again why does green paper have value?

    it's just paper.

    America has to tax people to keep confidence that the balance sheets are at least relatively close to matching. If the markets and consumers lose confidence in the currency that's a huge problem.

    money is all about perception

    they collect taxes to keep the perception up.

    and that includes Gold, which is just a yellow, soft, shiny metal that has limited use in industrial settings. people like gold because of tradition.

    but if the zombies roamed the Earth and the shiit truly hit the fan, gold and paper money wouldn't be as valuable as shotgun shells and bottled water.
    Last edited by bitonti; 05-14-2015 at 09:10 PM.

  3. #43
    Quote Originally Posted by Frequent Flyer View Post
    Gosh, Uncle Remus, the gubermint should borrow even mo money and weez gon beez even richer!

    This is how fucking stupid you sound.
    Your hero Ronald Reagan is the President who first started using debt as a tool

    he basically tripled the debt from when he started from when he finished

    every President since Reagan has used the debt in the same way

    If there was 0 debt that wouldn't be good news. It would be a lost opportunity of using the credit as a tool.

  4. #44
    Quote Originally Posted by ret2ski View Post
    That reading comp issue is getting worse & worse as I posted that info earlier in this tyhread.

    It's off of the debt clock moron. Go ahead & prove it's wrong!
    did you also see the part of the debt clock where the USA has 115 trillion dollars in assets? (and rising)

    http://www.usdebtclock.org/

  5. #45
    Jets Moderator ret2ski's Avatar
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    Quote Originally Posted by bitonti View Post
    did you also see the part of the debt clock where the USA has 115 trillion dollars in assets? (and rising)

    http://www.usdebtclock.org/
    So you would go full commie on this & sieze over 80% of public assets to take care of the unfunded liabilities created by the feds.

    Ah, the demented mind of the extreme left.

  6. #46
    Quote Originally Posted by ret2ski View Post
    So you would go full commie on this & sieze over 80% of public assets to take care of the unfunded liabilities created by the feds.

    Ah, the demented mind of the extreme left.
    So he shares Michael Moore's view that all money is Fed money, in essence.

    Do you see the $200 Trillion in unfunded liabilities in that clock and how it threatens default?

    No, of course you don't.

  7. #47
    Quote Originally Posted by ret2ski View Post
    So you would go full commie on this & sieze over 80% of public assets to take care of the unfunded liabilities created by the feds.

    Ah, the demented mind of the extreme left.
    to deal with the unfunded liabilities I would change those liabilities. It's that simple. Pensions, SS etc people aren't getting them in the same level as before. Or raise revenue. Stop subsidizing oil industry drilling sites for example. Or take away loopholes and deductions. or maybe a carbon tax. How about a weed tax. There's a million ways to raise revenue. Or do both cut liabilities and raise revenue.

    it is bound happen, sooner or later. Not under this President (cause both sides hate each other with a passion and can't do any deal) but there will be some sort of change to these promises. I'm under 40 I don't expect SS to be there when I retire.

    Side note I wonder how many right wingers on this forum are over 65 and getting SS. And then complaining about entitlements. Probably more than a couple.

    but Knowing our gov't we have to be right up against the wall to do something. yes it's a problem is a relatively easy solution. It's not something to be concerned about. The answer is apparent what is lacking is the political willpower. It will happen sooner or later.

    Compare that problem to lets say building democracy in Iraq. That's a problem that has no easy solutions.
    Last edited by bitonti; 05-15-2015 at 02:18 PM.

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