Coming Soon: The Bill for the Massive U.S. Debt
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Wednesday, December 30, 2009
Tuesday, November 17, 2009
State governments are in the dark of the night
On Seeking Alpha it has been pointed out that state governments are facing grave financial stress. One proposed solution is ongoing deficit spending.
However, to my knowledge, state governments cannot deficit spend forever - unless the Federal Reserve Bank is abolished and is replaced by (privately owned) central banks in each state that can print fiat mney to cover the local spending deficits.
California - the gorilla in the United States - is cracking under the strain of ongoing deficit spending.
Usury banking requires a periodic year of jubilee when compounded debt has to be written off one way or another.
No compounded debt tree grows to the sky. Otherwise the ancient Roman Empire would still be here. Debt drove its native farmers off the land, forcing them to migrate to the fringes of empire or Rome and leaving their land to be worked by new waves of debt free immigrants.
California has been exporting its former land owners to Idaho, Utah and Colorado and importing hordes of cheap workers from Mexico. This has not shored up California's state finances.
The darkness is now here whether it is being cursed or not.
However, to my knowledge, state governments cannot deficit spend forever - unless the Federal Reserve Bank is abolished and is replaced by (privately owned) central banks in each state that can print fiat mney to cover the local spending deficits.
California - the gorilla in the United States - is cracking under the strain of ongoing deficit spending.
Usury banking requires a periodic year of jubilee when compounded debt has to be written off one way or another.
No compounded debt tree grows to the sky. Otherwise the ancient Roman Empire would still be here. Debt drove its native farmers off the land, forcing them to migrate to the fringes of empire or Rome and leaving their land to be worked by new waves of debt free immigrants.
California has been exporting its former land owners to Idaho, Utah and Colorado and importing hordes of cheap workers from Mexico. This has not shored up California's state finances.
The darkness is now here whether it is being cursed or not.
Monday, September 21, 2009
Don't Knock Utah, BYU for Booking Real Football Teams
If Utah had booked Florida's opening opponent - Troy - last weekend then it would still have a 17 game winning streak going on. Why doesn't Florida prove how mighty the SEC is by booking real teams?
Likewise, BYU could have booked Charleston Southern insteaad of Florida State. And then it would look like a Florida powerhouse too.
You will win and lose when you book real teams.
Oklahoma booked BYU, knowing it would get a solid opponent. Maybe more solid than it bargained for.
Utah years ago booked a Pac-10 team. The Mountain West has imporved its game overall by stepping up to higher levels of competition in its interconference play.
The Mountain West Conference has made tremendous strides. This last weekend was just one step back, to be followed by more steps forward.
Florida began its season beating a team not even in Division 1 - the way Nebraska used to start its seasons. And look how Nebraska fell from the mighty. Meanwhile, the Mountain West teams are showing a willingness to take on major powers and not duck them the way Florida does and Nebraska used to.
BYU, Utah, TCU will remain strong. Last year bottom dweller Wyoming beat a Big 10 team on its home field and two weeks ago outplayed Texas for the first half.
With the limitation on football scholarships there is now more parity among the schools. Utah has something like seven straight post-season bowl game wins agains the likes of Alabama and Pittsburgh.
Likewise, BYU could have booked Charleston Southern insteaad of Florida State. And then it would look like a Florida powerhouse too.
You will win and lose when you book real teams.
Oklahoma booked BYU, knowing it would get a solid opponent. Maybe more solid than it bargained for.
Utah years ago booked a Pac-10 team. The Mountain West has imporved its game overall by stepping up to higher levels of competition in its interconference play.
The Mountain West Conference has made tremendous strides. This last weekend was just one step back, to be followed by more steps forward.
Florida began its season beating a team not even in Division 1 - the way Nebraska used to start its seasons. And look how Nebraska fell from the mighty. Meanwhile, the Mountain West teams are showing a willingness to take on major powers and not duck them the way Florida does and Nebraska used to.
BYU, Utah, TCU will remain strong. Last year bottom dweller Wyoming beat a Big 10 team on its home field and two weeks ago outplayed Texas for the first half.
With the limitation on football scholarships there is now more parity among the schools. Utah has something like seven straight post-season bowl game wins agains the likes of Alabama and Pittsburgh.
Wednesday, September 16, 2009
Time to Decentralize the Federal Reserve
Is the Federal Reserve solvent if Benranke won't let anyone look at the books? If the government had to authorize TARP money is that not a sign the Fed's assets and resources were tapped out?
Doesn't the TARP bailout now mean the taxpayers have a substantial diluted ownership interest in the privately owned Fed? How come no one is pointing this out? The Fed's self alleged independence is now total illusion and fraudulent.
One writer on this board today calls for banks to be broken down to smaller, manageable sizes. It is argued that no institution would be deemed too big to fail, nor would one institution threaten to bring down the entire house of cards.
Another asks if the Fed will remain solvent longer than the system.
The Fed in its current form is too big to manage. It's solvency is already suspect due to the continuing demand for secrecy.
If the Fed won't be abolished by a fearful Congress, then now is the time to decentralize it into the regional Fed districts,with each district autonomous and setting its own discount rates and overseeing the financial health of each district. As part of this, no commercial bank could operate outside of its region, except through an independent affiliate, not a subsidiary. And each district affiliate of say, Wells Fargo, would be under the superivision and oversight of Federal Reserve and FDIC regulators in each district. Ideally, each district bank affiliate of the current national banking enterprises would be spun out from the parent and set free as a smaller, more manageable, more transparent entity.
There would never again be a central Federal Reserve czar like Greenspan or Benranke because clearly the job was beyond their ability, The current financial mess is clearly all the evidence we need of that.
Disclosure: long AIB
Doesn't the TARP bailout now mean the taxpayers have a substantial diluted ownership interest in the privately owned Fed? How come no one is pointing this out? The Fed's self alleged independence is now total illusion and fraudulent.
One writer on this board today calls for banks to be broken down to smaller, manageable sizes. It is argued that no institution would be deemed too big to fail, nor would one institution threaten to bring down the entire house of cards.
Another asks if the Fed will remain solvent longer than the system.
The Fed in its current form is too big to manage. It's solvency is already suspect due to the continuing demand for secrecy.
If the Fed won't be abolished by a fearful Congress, then now is the time to decentralize it into the regional Fed districts,with each district autonomous and setting its own discount rates and overseeing the financial health of each district. As part of this, no commercial bank could operate outside of its region, except through an independent affiliate, not a subsidiary. And each district affiliate of say, Wells Fargo, would be under the superivision and oversight of Federal Reserve and FDIC regulators in each district. Ideally, each district bank affiliate of the current national banking enterprises would be spun out from the parent and set free as a smaller, more manageable, more transparent entity.
There would never again be a central Federal Reserve czar like Greenspan or Benranke because clearly the job was beyond their ability, The current financial mess is clearly all the evidence we need of that.
Disclosure: long AIB
Thursday, September 10, 2009
Issue Greenback Dollars (Dgitially) to Fix Social Security
The Social Security $5 billion shortfall for one month is a drop in the bucket compared to the $2 trilllion - or is it $6 trillion? - created out of thin air to shore up the bankers and their entitled bonus packages.
The federal government, though of course it will not, simply has to print money and dispense it to retirees. If it borrows the money from the privately owned banks to cover this deficit, then, of course, the federal government will be in trouble. It will not only have violated the wisdom of the founding fathers and their government matrix system outlined in the Constitution, it will be even more in debt to people who already are dictating to Congress as they did last autumn with their financial terrorist tactics.
However, non-borrowed greenbacks simply printed and dispersed to spenders will simply offset some of the growing black hole caused by the financial industry's fraud games. It would be non-inflationary in light of the strong deflation now underway.
And because the greenbacks are not borrowed, they would not show up on the growing deficit. As the greenbacks are spent and re-spent the multiplier would generate some tax revenue to offset the problems there.
Of course, Lincoln issued greenbacks. He was murdered, though not for that. JFK issued greenbacks and he was murdered, though also not for that. There were other offshore interests and political motivations apparently involved in those executions. The argument that two greenback proponents met untimely deaths is a red herring to intimidate Congress into not following Constitutional wisdom.
Likewise, unemployment benefits that are running out can be extended and non-borrowed greenbacks can be digitally issued to the jobless and the money they spend will somewhat plug a small portion of the growing black hole in the economy.
I keep reading alarmists who say the government is printing money. It is not. The Fed is printing money and charging them interest and the continual process of doing this since 1913 or whenever has been a major contributor to this mess. After all, Federal Reserve chairmen have admitted they do not know what money is or what it does.
But I think people posting on this board have somewhat of an idea.
The federal government, though of course it will not, simply has to print money and dispense it to retirees. If it borrows the money from the privately owned banks to cover this deficit, then, of course, the federal government will be in trouble. It will not only have violated the wisdom of the founding fathers and their government matrix system outlined in the Constitution, it will be even more in debt to people who already are dictating to Congress as they did last autumn with their financial terrorist tactics.
However, non-borrowed greenbacks simply printed and dispersed to spenders will simply offset some of the growing black hole caused by the financial industry's fraud games. It would be non-inflationary in light of the strong deflation now underway.
And because the greenbacks are not borrowed, they would not show up on the growing deficit. As the greenbacks are spent and re-spent the multiplier would generate some tax revenue to offset the problems there.
Of course, Lincoln issued greenbacks. He was murdered, though not for that. JFK issued greenbacks and he was murdered, though also not for that. There were other offshore interests and political motivations apparently involved in those executions. The argument that two greenback proponents met untimely deaths is a red herring to intimidate Congress into not following Constitutional wisdom.
Likewise, unemployment benefits that are running out can be extended and non-borrowed greenbacks can be digitally issued to the jobless and the money they spend will somewhat plug a small portion of the growing black hole in the economy.
I keep reading alarmists who say the government is printing money. It is not. The Fed is printing money and charging them interest and the continual process of doing this since 1913 or whenever has been a major contributor to this mess. After all, Federal Reserve chairmen have admitted they do not know what money is or what it does.
But I think people posting on this board have somewhat of an idea.
Monday, September 7, 2009
Usury Banking Can't Be Fixed, It's unworkable
No arguments for fixing the banking system convince me that usury fracional banking is even sustainable and repairable in the first place.
The usury system requires an ever inflating supply of debt credits so that borrowers have a chance to keep up with their obligations for paying both money and interest. The extra fiat credits needed to pay interest have to come from somewhere.
But didn't Greenspin (sic) and Benranke (sic) set out to destroy inflation just a few short years ago with rate hikes from an artificially low base?. And didn't the rising pain level result in a rate pullback to 1 percent again? But did this ward off the financial collapse? And aren't some factions sceaming now for a rate hike to kill inflation? But isn't inflation needed so borrowers can keep up with rising interest obligations?
But isn't the economic system trying to deflate? Isn't deflation bad for usury banking?
The usury banking system and its attendant dependence on runaway inflation is unsustainable.
It simply allows nonproductive people to feed off of producers.
A non usury money system will be more boring, more stable, less greedy but ultimately more productive because the financial engineering parasites will have to go to work and produce something that adds value, not subtracts from it.
The usury system requires an ever inflating supply of debt credits so that borrowers have a chance to keep up with their obligations for paying both money and interest. The extra fiat credits needed to pay interest have to come from somewhere.
But didn't Greenspin (sic) and Benranke (sic) set out to destroy inflation just a few short years ago with rate hikes from an artificially low base?. And didn't the rising pain level result in a rate pullback to 1 percent again? But did this ward off the financial collapse? And aren't some factions sceaming now for a rate hike to kill inflation? But isn't inflation needed so borrowers can keep up with rising interest obligations?
But isn't the economic system trying to deflate? Isn't deflation bad for usury banking?
The usury banking system and its attendant dependence on runaway inflation is unsustainable.
It simply allows nonproductive people to feed off of producers.
A non usury money system will be more boring, more stable, less greedy but ultimately more productive because the financial engineering parasites will have to go to work and produce something that adds value, not subtracts from it.
Saturday, September 5, 2009
Israeli Looney Justifies First Strike Against Israel in Self Defense
An Israeli war expert states that Israel should destroy all European capital cities.
He further states:
"We have the capability to take the world down with us. And I can assure you that this will happen before Israel goes under."
A Jewish psychologist back in the 1960s said that his fellow Jews are mentally ill and they are transferring their illness to the broader population. This absurdly irrational, crazy Israeli is proof of that.
This hateful, racist demented Israeli war expert -- an expert because he is a professor -- is clearly a reflection of the culture which bred and sustains him.
If I were a general in NATO, I would immediately develop plans for a first strike against Israel before it can carry through its threat to destroy Europe and send it back to the sheep and donkey age of the Old Testament.
This professor has threatened to use weapons of mass destruction against the countries U. S. soldiers died defending back in World War II.
If Israel has weapons of mass destruction and threatens to use them against the west, doesn't that justify a war against them? How is Israel different from Iraq or Afghanistan? The diffeence is they really do have weapons of mass destructions. But they are acting like out of control adolescents. Someone had better take the weapons out of their hands before they kills tens of milloins again as they did in post Revolution Russia.
Israeli Professor:’We Could Destroy All European Capitals’
(IAP News) — An Israeli professor and military historian hinted that
Israel could avenge the holocaust by annihilating millions of Germans
and other Europeans.
Speaking during an interview which was published in Jerusalem Friday,
Professor Martin Van Creveld
Israel had the capability of hitting most European capitals with nuclear
weapons.
"We possess several hundred atomic warheads and rockets and can
launch them at targets in all directions, perhaps even at Rome. Most
European capitals are targets of our air force."
Creveld, a professor of military history at the Hebrew University in
Jerusalem, pointed out that "collective deportation" was
Israel's only meaningful strategy towards the Palestinian people.
"The Palestinians should all be deported. The people who strive for
this (the Israeli government) are waiting only for the right man and the
right time. Two years ago, only 7 or 8 per cent of Israelis were of the
opinion that this would be the best solution, two months ago it was 33
per cent, and now, according to a Gallup poll, the figure is 44
percent."
Creveld said he was sure that Israeli Prime Minister Ariel Sharon wanted
to deport the Palestinians.
"I think it's quite possible that he wants to do that. He wants
to escalate the conflict. He knows that nothing else we do will
succeed."
Asked if he was worried about Israel becoming a rogue state if it
carried out a genocidal deportation against Palestinians, Creveld quoted
former Israeli Defense Minister Moshe Dayan who said "Israel must be
like a mad dog, too dangerous to bother."
Creveld argued that Israel wouldn't care much about becoming a rogue
state.
"Our armed forces are not the thirtieth strongest in the world, but
rather the second or third. We have the capability to take the world
down with us. And I can assure you that this will happen before Israel
goes under."
He further states:
"We have the capability to take the world down with us. And I can assure you that this will happen before Israel goes under."
A Jewish psychologist back in the 1960s said that his fellow Jews are mentally ill and they are transferring their illness to the broader population. This absurdly irrational, crazy Israeli is proof of that.
This hateful, racist demented Israeli war expert -- an expert because he is a professor -- is clearly a reflection of the culture which bred and sustains him.
If I were a general in NATO, I would immediately develop plans for a first strike against Israel before it can carry through its threat to destroy Europe and send it back to the sheep and donkey age of the Old Testament.
This professor has threatened to use weapons of mass destruction against the countries U. S. soldiers died defending back in World War II.
If Israel has weapons of mass destruction and threatens to use them against the west, doesn't that justify a war against them? How is Israel different from Iraq or Afghanistan? The diffeence is they really do have weapons of mass destructions. But they are acting like out of control adolescents. Someone had better take the weapons out of their hands before they kills tens of milloins again as they did in post Revolution Russia.
Israeli Professor:’We Could Destroy All European Capitals’
(IAP News) — An Israeli professor and military historian hinted that
Israel could avenge the holocaust by annihilating millions of Germans
and other Europeans.
Speaking during an interview which was published in Jerusalem Friday,
Professor Martin Van Creveld
Israel had the capability of hitting most European capitals with nuclear
weapons.
"We possess several hundred atomic warheads and rockets and can
launch them at targets in all directions, perhaps even at Rome. Most
European capitals are targets of our air force."
Creveld, a professor of military history at the Hebrew University in
Jerusalem, pointed out that "collective deportation" was
Israel's only meaningful strategy towards the Palestinian people.
"The Palestinians should all be deported. The people who strive for
this (the Israeli government) are waiting only for the right man and the
right time. Two years ago, only 7 or 8 per cent of Israelis were of the
opinion that this would be the best solution, two months ago it was 33
per cent, and now, according to a Gallup poll, the figure is 44
percent."
Creveld said he was sure that Israeli Prime Minister Ariel Sharon wanted
to deport the Palestinians.
"I think it's quite possible that he wants to do that. He wants
to escalate the conflict. He knows that nothing else we do will
succeed."
Asked if he was worried about Israel becoming a rogue state if it
carried out a genocidal deportation against Palestinians, Creveld quoted
former Israeli Defense Minister Moshe Dayan who said "Israel must be
like a mad dog, too dangerous to bother."
Creveld argued that Israel wouldn't care much about becoming a rogue
state.
"Our armed forces are not the thirtieth strongest in the world, but
rather the second or third. We have the capability to take the world
down with us. And I can assure you that this will happen before Israel
goes under."
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