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re: Interest on the debt is 60% of the Amount taken in by the Treasury in February
Posted on 5/10/24 at 5:14 am to RiverCityTider
Posted on 5/10/24 at 5:14 am to RiverCityTider
quote:
Well the answer to that is we can't do that anymore. In fact, our aggressive foreign policy has caused the hold on reserve currency status to weaken further. Something like 58% of trade transactions are dollar denominated. It used to be much higher.
The answer of how to defeat the machine is to overload it.
Again, the more important question is to whom do we owe $35T and counting? It doesn't stop at some Schoolhouse Rock ditty about the national bank that Alexander Hamilton created.
The El Salvador President was on the nose. Paying high taxes is an illusion of funding the government.
2
Posted on 5/10/24 at 5:33 am to Tandemjay
quote:
This is the result of believing and voting for the GOPe's last 30 years of campaigning on reducing the deficit and closing the border.
Yet we still have people that believe if we just get more “R”s elected everything will be okay. We haven’t had a Republican Congress that gave a shite about the deficit since Gingrich. Now, the financiers and corrupt politicians have such a hol on policy I don’t see it changing. There are trillions at stake….to much to let us common folks mess it up. Anyone that actually does want to control spending is politically shoved in a corner.
The majority of voters are too stupid to see what’s coming and when it does they’ll far outnumber the savers and be out with torches and pitchforks to confiscate as much wealth as they can for “the good of the people”.
This post was edited on 5/10/24 at 5:38 am
Posted on 5/10/24 at 5:39 am to VoxDawg
Stop returning people to DC that .have done this to you.
Look at the two presidential candidates we picked.
Look at the two presidential candidates we picked.
Posted on 5/10/24 at 5:47 am to RogerTheShrubber
quote:
Look at the two presidential candidates we picked.
The people don’t pick the candidates. We’re allowed to choose from the candidates that the PTB deem to be acceptable. The one time the people stepped out of this framework and picked a wildcard the whole system came out and neutered him from doing anything.
Remember it was the mainstream Republicans that had no legislation ready to deal with Obamacare, deficits, immigration, etc. when Trump dragged in a Pub majority to Congress.
Posted on 5/10/24 at 5:49 am to RiverCityTider
quote:
So why are we continuing on with this bad arse globalist foreign policy when they know damn well we can't afford a trillion a year for defense.
Interest payments are now well more than what we are paying for Defense.
The reason they continue spending is because cutting spending (not just the growth of spending) doesn't win votes in elections.
Posted on 5/10/24 at 5:51 am to RiverCityTider
Ban lobbyists, end the fed.
Posted on 5/10/24 at 6:15 am to VoxDawg
quote:
It's all based on the US' willingness to enforce our fiat currency as the world's reserve notes
quote:
"The government needs to drop its commitment to maintaining the dollar's reserve-currency status"
- Jared Bernstein chair of the United States Council of Economic Advisers
Posted on 5/10/24 at 6:17 am to SquatchDawg
quote:
The people don’t pick the candidates.
If true, why do we complain?
We have a lot more than people realize, at the state and local levels
Posted on 5/10/24 at 6:20 am to FLTech
quote:
There is no way they will have the balls to do that.
Trump and Vivek will
JFC. Trump doesn't even have the balls to address the debt/deficit issue on the campaign trail. He says nothing.
Posted on 5/10/24 at 6:21 am to RiverCityTider
You're correct.
However, everyone else is just as if not more fricked.
Which is the only reason we've gotten away with it so long.
However, everyone else is just as if not more fricked.
Which is the only reason we've gotten away with it so long.
Posted on 5/10/24 at 10:16 am to VoxDawg
quote:
Again, the more important question is to whom do we owe $35T and counting?
Vox. Please explain to me how the amount of debt doesn't matter, only "who owns the debt".
Explain what you mean by "overloading".
I'm having a hard time understanding what you are getting at.
This post was edited on 5/10/24 at 10:25 am
Posted on 5/10/24 at 10:23 am to RiverCityTider
A german once got rid of central bank currency, issued no usury national cash, and went from wheelbarrows of cash to buy a loaf of bread to the worlds largest economy in six years.
This post was edited on 5/10/24 at 10:35 am
Posted on 5/10/24 at 10:35 am to RiverCityTider
Saw this in NYC back in the early 70's. Liberal mayor went on a social services spending spree and debt service ate most of the budget leaving next to nothing for basic maintenance.
Projects stopped. There was a 20' tree "Harlem palm" growing in the middle of the BQE between concrete barriers where renovation had stopped.
Projects stopped. There was a 20' tree "Harlem palm" growing in the middle of the BQE between concrete barriers where renovation had stopped.
Posted on 5/10/24 at 10:56 am to RiverCityTider
I agree with all this except the gold part, that is the Boomer answer. Bitcoin is the Millennial gold.
Get ready for targets of 4% inflation its is a tax from the Fed that no politician has to lose their job over.
Get ready for targets of 4% inflation its is a tax from the Fed that no politician has to lose their job over.
Posted on 5/10/24 at 11:23 am to cardboardboxer
Then the boomer answer has averaged 8% growth since 1972.
Posted on 5/10/24 at 11:36 am to RiverCityTider
GOLD. And obviously pew-pew’s and self-subsistence.
Crypto is a scam that shite will f*cking POOF.
Crypto is a scam that shite will f*cking POOF.
Posted on 5/10/24 at 11:44 am to Warfox
It may well be that crypto and Gold both do well. The logical bet is wealth flows out of the dollar and into crypto and commodities. I'm just sort of worried about crypto buyers having a small, even tiny little worry about a collapse. That small little fear could become huge with a couple of big down days.
We have 3000 years of Gold's behavior to study.
The other thing is, it seems to me Gold has been sort of held down by central banks
We have 3000 years of Gold's behavior to study.
The other thing is, it seems to me Gold has been sort of held down by central banks
This post was edited on 5/10/24 at 1:20 pm
Posted on 5/10/24 at 12:09 pm to RiverCityTider
That chart is not up to date.
Posted on 5/10/24 at 1:13 pm to RiverCityTider
quote:
It may well be that crypto and Gold both do well. The logical bet is wealth flows out of the dollar and into crypto and commodities. I'm just sort of worried about crypto buyers having a small, even tiny little worry about a collapse. That small little fear could become huge with a couple of big down days.
We have 3000 years of Gold's behavior to study.
Exactly.
Posted on 5/10/24 at 1:18 pm to RiverCityTider
Explain to me like I’m 5,
Why do the people who have all the money not seem to care? We are talking about generational wealth being wiped out for whole lot of people. Why are the people who are at the most risk seeming care free?
Why do the people who have all the money not seem to care? We are talking about generational wealth being wiped out for whole lot of people. Why are the people who are at the most risk seeming care free?
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