Ron Paul: "The U.S. Government Must Admit It Is Bankrupt"

[RCG Trader]

Quote from Runningbear:

Technically you're bankrupt if the value of your debts exceeds the value of your assets. The US can print money to pay its debts, but pretty soon, holders of US government bonds will demand higher premiums to cover the losses to inflation. Remember, the government can't service the debt if they can't sell treasuries. Interest rates will rise to 10% then 20% then 30% at which point the entire system will break down.

Unfortunately, The UK, France, Portugal, Ireland, Spain, Greece and Italy are in much the same predicament. Greece and Portugal will goes first and we will probably see a domino effect.

But if the US goes, everyone goes. We're talking about a total collapse of the economic system worldwide.

Which is why I for one am not worried about it. If we fall, everyone falls. Everyone knows it. If we fall, the world goes backwards. If we fall, will this place be worth living in?

Not typical American arrogance. Just answer this American's question, in detail, if you don't mind.

 

[RCG Trader]

Quote from bearice:

Ed Breen, finally excellent post. Go back to nature where you came from.

I am moving to Siberia or Alaska. everybody is welcome if you dare to come or if you are strong enough to survive.

lol, if we fall, do u think there is anywhere that you would be safe?

 

[RCG Trader]

Quote from bearice:

Obama knows everything. Force Obama to give details for the treasure. What are we waiting for?

But there is a possibility that Bush did not tell Obama about the treasure due to the fear that Obama will transfer the treasure to Kenya.

You have obviously not run anything major. The CEO knows what he must know, nothing more. It is impossible to know everything. Not enuf time in the day.

 

[bearice]

Quote from RCG Trader:

lol, if we fall, do u think there is anywhere that you would be safe?

Any place that has less humans, is a safe place. But the reason there is less humans in a certain place is that there is dangerous and harsh nature/wild.

Rural USA is excellent, spacious, beautiful. Less cost of living. Cheap real estates. Big cities are useless. Abandon/leave big cities. Go back to nature where you came from.

 

[bearice]

Quote from bearice:

Majority of inventions, technology and machines are from rich countries. Today the world is developed because of rich countries. Today the modern world has money because of rich countries. But today rich countries are poor.

Now I need $1 Trillion to $2 Trillion donation for USA. What will people say now?

Bill gates should donate $30 Billion to USA, Carlos slim should donate $30 Billion, Warren buffett $25 Billion, Ambani and Tata should donate 75% money. There are some 2000 billionaires and some 70 million millionaires in this world. World governments should donate big money to USA.

I think USA will earn $5 Trillion donation.

Barack obama collected multi-trillion dollars from USA Tax-payers and donated it to giant companies.

Bearice is trying to collect multi-trillion dollars from world people and donate it to USA.

Who is more intelligent. Bearice or Obama?

 

[zdreg]

"Who is more intelligent. Bearice or Obama?"
obviously Bearice is more intelligent but who is EL Presidente with power at least in the US?

 

[bearice]

Quote from bearice:

There are some 70 million millionaires in this world.

If 70 million millionaires donate $1 million each, that would be $70 Trillion donation for USA. (my maths is not good)

 

[bearice]

But if the US goes, everyone goes. We're talking about a total collapse of the economic system worldwide.

Quote from RCG Trader:

Which is why I for one am not worried about it. If we fall, everyone falls. Everyone knows it. If we fall, the world goes backwards. If we fall, will this place be worth living in?

Not typical American arrogance. Just answer this American's question, in detail, if you don't mind.

If USA goes down, millionaires and billionaires also go down with USA. So it is better that millionaires and billionaires donate 10% or 25% of their money to USA. Make your own decision.

 

[Ed Breen]

The only thing worse than your math is your facts. The World Wealth Report for 2010 reports that there are 10M world millionaires, measured by household net worth. This of course does not mean that they can afford to make a 1M 'gift' without wiping themselves out. Why call for a gift? Why don't you just call to have them shot and then take their money...you could call it a wealth tax. You really should go live in Ted Kazinski's cabin.

 

[bearice]

Quote from Ed Breen:

The World Wealth Report for 2010 reports that there are 10M world millionaires, measured by household net worth.

In year 2009, USA had some 8 million millionaires. Now think of world millionaires.

http://www.businessweek.com/news/20...anks-rose-16-in-2009-study-says-update1-.html