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It Is Now Mathematically Impossible To Pay Off The U.S. National Debt
- Thread starter Tauvros
- Start date
Ugh. More disinformation. Like Martinghoul said, the Fed's profits are returned to the US government.
From wiki:
All profit after expenses is returned to the U.S. Treasury or contributed to the surplus capital of the Federal Reserve Banks (and since shares in ownership of the Federal Reserve Banks are redeemable only at par, the nominal "owners" do not benefit from this surplus capital)
____
This is how Fed isn't really a private organization as conspiracy nuts have you believe. It's a hybrid private/government system. Now, whether this is a good structure is a different matter.
From wiki:
All profit after expenses is returned to the U.S. Treasury or contributed to the surplus capital of the Federal Reserve Banks (and since shares in ownership of the Federal Reserve Banks are redeemable only at par, the nominal "owners" do not benefit from this surplus capital)
____
This is how Fed isn't really a private organization as conspiracy nuts have you believe. It's a hybrid private/government system. Now, whether this is a good structure is a different matter.
Are you kidding me? How exactly did you come to that conclusion from just that? You do know that the whole idea of banks is to hold money and also lend right? ANY bank does that, not just a government one, you don't think that the government borrows money as well to fund its ridiculously expensive schemes?
You can call us folks conspiracy nuts if you like to think of that as an argument but just because a bank has named itself 'Federal' doesn't mean it is a government owned institution.
You can call us folks conspiracy nuts if you like to think of that as an argument but just because a bank has named itself 'Federal' doesn't mean it is a government owned institution.
All the countries are facing severe debt crisis.
Country-------2009 Total debt(% of GDP)
India-----------------129
Brazil-----------------142
China-----------------159
Canada--------------259
Germany-------------285
USA-------------------300
UK--------------------466
Japan----------------471
http://www.pimco.com/LeftNav/Featured+Market+Commentary/IO/2010/February+2010+Gross+Ring+of+Fire.htm
Country-------2009 Total debt(% of GDP)
India-----------------129
Brazil-----------------142
China-----------------159
Canada--------------259
Germany-------------285
USA-------------------300
UK--------------------466
Japan----------------471
http://www.pimco.com/LeftNav/Featured+Market+Commentary/IO/2010/February+2010+Gross+Ring+of+Fire.htm
simple we are not going to pay it back. esentially the USA does what a rich man does. They borrow against the borrowing and so on...until death.
What keeps america going is actually because of our pristine reputation, we are the world's SOLE superpower, what we dont realise it takes both ways, the world needs us, but we too need the world, many americans dont realise this, and go banging their chest all the time like an impotent gorilla.
What keeps america going is actually because of our pristine reputation, we are the world's SOLE superpower, what we dont realise it takes both ways, the world needs us, but we too need the world, many americans dont realise this, and go banging their chest all the time like an impotent gorilla.
ahahahhh! Sole superpower? You've got the be joking, you don't even acknowledge the existence of China ( Who guess what have been lending nearly a trillion to the U.S ) or even Russia? Russia is still very much a super power since they quite happily went and screwed over Georgia while the U.S cowered in fear.
This chart has nothing to do with the "projected deficit". It's a breakdown of the current deficit.Quote from texrex2002:
I dislike your chart.
why don't we point out all the entitlement programs, shameless redistribution, nationalization of industries, "free" healthcare, etc., as the "cause" for the projected deficit.
posting a chart blaming tax cuts for the deficit insists on the premise that the cut taxes were formerly spent on worthwhile stuff that warrant continued spending.
You can read more about the methodology used to generate the chart here: http://www.cbpp.org/cms/index.cfm?fa=view&id=3036
I can't find anything obviously wrong with their analysis, which is based on CBO data.
Are you serious ?Quote from optionsgirl:
This is how Fed isn't really a private organization as conspiracy nuts have you believe. It's a hybrid private/government system. Now, whether this is a good structure is a different matter.
Do you understand F.R.B
Lets say i have a cat house a wharehouse of ware's, and i loaned out my cats that were suppose to be held in storage,,, would that not be considered criminal ?
I know bad analogy ,, i would just like my dollar to be worth more then 2 cents ..
They wont mind if we audit them will they ?
Assume all you said is true. the question you asked is wrong one.
why government needs to collect all money from banks to pay off debt?
No , it doesn't. Let's say government collects high tax revenue and gets 1T $ surplus every year, it can just pay down debt slowly. after 10+ years, all debt would be paid off.
why government needs to collect all money from banks to pay off debt?
No , it doesn't. Let's say government collects high tax revenue and gets 1T $ surplus every year, it can just pay down debt slowly. after 10+ years, all debt would be paid off.
Quote from Tauvros:
A lot of people are very upset about the rapidly increasing U.S. national debt these days and they are demanding a solution. What they don't realize is that there simply is not a solution under the current U.S. financial system. It is now mathematically impossible for the U.S. government to pay off the U.S. national debt. You see, the truth is that the U.S. government now owes more dollars than actually exist. If the U.S. government went out today and took every single penny from every single American bank, business and taxpayer, they still would not be able to pay off the national debt. And if they did that, obviously American society would stop functioning because nobody would have any money to buy or sell anything.