OT - The US National Debt - Page 2

that leaves us boss of our own small part of the world .

..........what was the debt when dick and little bush  stole their way into the office......now we borrow money from china to fight a war  started on lies...little bush  was so eager to go to war......where was the chicken shit..when he was suppose to go to nam...waa

Yes, that small part of the world aka America, and that is WHAT and ONLY what we should focus on.   Personally I dont see why Isreal just got $30 Billion. And that Egypt and Jordan are paid $15 Billion to be nice to Israel. Personally I dont care.

That is of course, if you choose to follow the Founding Fathers & Framers of the Constitution.

'No Entangling Alliances'  'Friends with all nations, Permanent Alliances with None' etc etc

In order to put this in proper perspective, consider this:   Remember, all additions to the money US supply are technically loans from the fed reserve, a private bank incorporated in delaware in 1913.  This means that (contrary to what is required by the US Constitution) all the US Debt must be repaid in principal and interest to the fed reserve.  Now this business of issuing/creating money (fed reserve bills) is a pretty good income and profit generating business, don't you think?  Problem is the fed has never been audited and we don't know how many billions of dollars their owners make as profit each year (you can be sure it is many billions).    Rep. Henry Gonzalez (Texas-D, now retired) tried to get a bill passed in congress to do this, but he backed off after a sniper fired a high power rifle round right past his ear in broad daylight in a texas city as a "shot accross the bow" warning. 

In order to get a reference point on the amount of money paid out so far for the bailout, the war on terror so far, and the missing 2.3 trillion pentagon dollars, take the total deficit and divide it by 300 million citizens.  Depending on the news storiesyou accept, this places the amount borrowed within the last year by each of these 300 million at about $24,000. 

Now, for a family of four this means your giov't has unconstitutionally borrrowed about $96,000 from the fed reserve.  Next year the figure will be at least the same amount more.  So by the end of next year, each family of four will owe the fed reserve about $192,000 in principal, which doesn't include the interest which is probably about 3%.  Anyway you do the math thie amount borrowed is more than most folks earn.  If you are single, this means you will owe approx $48,000 (interest on top of that) by the end of next year.  That means you would have to make payments of about $600/month for 7 years.   Folks, if this isn't paid directly by the citizens with the issued money pulled out of circulation, then the value of our dollar will be drastically eroded.   

Last I heard US National debt in fact exceeded ten trillion, Aand. The official budget deficit presently exceeds one trillion (actual is probably a lot higher) - even as revenue declines and expenditures rise. Together with yesterday’s announcement, Fed’s direct intervention to financial markets now stands at 1.5 trillion, topping off the almost 3 trillion transferred otherwise (and who’s buying all those offsetting Treasury Bonds?) The UK Government is similarly busy borrowing the odd trillion. Did someone mention ‘smoke and mirrors’!

Obama plans a major rescue package of his own, tax reduction included – no doubt further worsening deficit and level of borrowings. The last quarter saw the economy shrink by more than originally reported, with consumer spending and house prices recording record falls. As well, wider business weakness always lags behind any drop in consumer spending. Today the OECD predicted a ‘protracted’ recession, and a further eight million unemployed. One ray of sunshine: consumer confidence has slightly improved because of lower oil prices, and the resulting ongoing boost to consumer spending dollars may well achieve more than all government actions combined (if it does, politicians will of course take the credit anyway!) Only goes to show how much our economies are hostage to OPEC - not a fact our leaders generally care to admit.

Concerning? I think it should be Aand. On the other hand, most folk won’t give it a thought till personally hit.

I’d venture that China will emerge from it all relatively stronger and better than the US or most other Western countries. Bush paid lip service only days ago to the relentless Eastward shift in economic momentum. G20 summit leaders trumpeted the virtues of free trade but I doubt all that many realize its real implications. Future global economic dynamics and competition, all things being equal, must inexorably lead to an indeterminate equalization in world-wide living standards, with East’s economies setting the terms. No Western economy will be able to match the potential economies of scale achievable by China, nor its huge reserve of cheap labor, with India waiting in the wings. By comparison the post-war economic growth and competitiveness of Japan, South Korea, Taiwan etc will, in time, seem like a minor hiccup!  




 




 

Now your in your element,lol. liz

Bailouts: To date

JPMorgan $25 billion

Citigroup $25 billion

Wells Fargo $25 billion

Bank of America $15 billion

Merrill Lynch $10 billion (NOTE)

Goldman Sachs $10 billion

Morgan Stanley $10 billion

Bank of New York Mellon $3 billion

State Street Corp $2 billion

Bank of Commerce $17 million

First Financial Svcs $16 million

UCBH Holdings Inc $299 million

Northern Trust Corp $1.6 billion 

Provident Bancshares Corp $151 million

Umpqua Holdings Corp $214 million

Comerica $2.3 billion

Regions Financial $3.5 billion

Capital One Financial $3.6 billion

First Horizon National $866 million

Huntington Bancshares $1.4 billion

KeyCorp $2.5 billion

Valley National Bancorp $300 million

Zions Bancorp $1.4 billion

Marshall & Ilsley Corp $1.7 billion

US Bancorp $6.6 billion 

Broadway Financial Corp $9 million

Washington Federal $200 million

BB&T Corp $3.1 billion

preston you answered what i had asked in a different thread - if i understand this correctly, and i may not so please correct me if i got it wrong - the fed reserve is the one controlling the money; when and how much and how often it is printed.  and from the article uglydog linked it is constitutional for the congress to contract the job of making & managing the money system to a privately held company.  but the problem is the fed res (regardless of the race, nationality or religion) has too much power and no oversight; and this is, or a case could be made that it is, unconstitutional.  therefore an argument must be made to force congress to address the problems with the fed res.

this is what we need to write our representatives and senators about they are the ones who can set up oversight, they can call this contract between the gov & the fed res into question because it is the congress's power that was handed over to the fed res.  it is the congress who needs to step up and recognized the roots of our economic problems are not with one party or another but with the fed res and how they are not being held accountable for their actions. 

so from the little i understand - from the discussions here, links that have been posted and what i've gleaned from solari.com - the fed res has free rein and they are making huge profits at the expensive of the gov and the taxpayers, and the congress has not stood up to stop them.  we must convince the congress, as a whole, to rein in the fed res or better yet toss them aside because it is in congress's stead that they have the power to do what they have been doing  - namely running up the nat. debt and drowning us in interest. 

kick up a fuss and call you congressman! maybe someone can draft a kickbutt letter that we can each send.  i'm not sure there is anyone there who is not in the pocket of the fed res but it seems like the best way to start.  next would be to go after independent media, bloggers etc.  make it a topic of conversation; make it known that the fed res is constitutional but their actions and lack of oversight are not and therefore change is needed if we want to get out of this hole we are in.  lets stick to the point, stop polarizing the people and start organizing under a reasonable and logical argument for a better way than the fed res.

i do believe that the problem is very complex but this is how i understand the root of the problem and it seems to me that the root is where we need to be looking for a truly effective solution.

I still think you people arn't getting it ... I'll go ahead and mention it again  :o)~   These limits are distinctly seen and intelligible.  Remember naw, the Constitution and Bill of Rights LIMIT POWERS over "we the people" NOT grant them. OK ? Also remember "currency" and "money" .. are TWO DIFFERENT definitions, but I'm sure yall know this already.

Congress is allowed .... “to coin money, and regulate the value thereof, and of foreign coins” and “to provide for the punishment of counterfeit­ing the securities and current coin of the United States” .... Congress can do NOTHING more. Now you people should be getting the idea WHY and HOW the Federal Reserve is private. Talk about illegal. Anything other than Gold and Silver coined is ILLEGAL and COUNTERFEIT !!!  The Federal Reserve "notes" are just that bloody notes and IUO's              

give Bryan my regards toto