1: Pay of debt with debt free US notes issued by the government 2: Abolish fractional reserve lending.. as the debt is paid off raise the reserve requirements of banks to absorb the new money and maintain stability 3: Repeal the Federal Reserve Act and the National Banking Act 4: Withdraw from the IMF, BIS and World Bank
That is called sleight of hand. Where are we going to come up with approx $7 trillion dollars to pay off this debt? Just wish it away? The TOTAL annual budget is less than $2 trillion, and that is already completely spent on military, criminal justice/prisons, social programs, roads, and a lot of other govt services. And what in the world is a debt-free note? That is called an oxmoron. You have debt. IT is represented as "debt" bonds and notes. You are going to pay that off without any cost or new debt??? I would like to buy a few houses that way. How about if you held $30,000 in treasury bonds as part of your portfolio, and the govt gave you a note with no value? Remember, much of that debt is owed to the US itself, as bonds held by the Social Security side of the government to pay off senior citizens. Are you going to just let your parents and grandparents starve slowly?
A debt free note is one that does not come with central bank ie Fed interest attached that you must pay back through taxes.. you still cant see the scam can you.. but I do like you as one of the traders here that calls Hershey to account
The nation is hopelessly bankrupt. You can play any games you like with the debt, but you will never be able to pay it off with interest from current levels without just printing the money. And in 2010, it gets a lot worse.
Hershey lives in a dream world. The only thing that impresses me, is an independently verified track record (Timertrac, eg). Or placing a significant number of calls herre onET ahead of time, so we can see the brilliance. Everything else, to me, is smoke and mirrors. No amount of name calling or whining or lengthy prattle changes my mind. There are two choices: PROOF or EMPTY CLAIMS
There are solutions http://video.google.com/videoplay?docid=-1583154561904832383 http://video.google.com/videoplay?docid=-529716659023952808
The US could always move to a two tiered currency system by introducing a new dollar for domestic use that's partially fixed to a basket of commodities. Debt to other nations could then be retired by printing old dollars. Resulting inflation and falling foreign exchange rates can be countered by manipulating the exchange rate between old and new dollars while gradually increasing the % that's fixed to the basket of commodities.
America has no economy. What does America manufacture? Nothing but military crap. Lowering the interest rate to zero wont replace the broken down factories that are all over the place. America is screwed!!!!