And below is the latest in a newsletter I read. Its found at traderreview.net and no I am not trying to sell it to you, but I thought he summed up the current financial crisis in the states quite well. SO for those who are interested
What the Debt Ceiling REALLY Means
It means absolutely nothing!
In the 1980’s under Reagan, the debt ceiling was voted on to be $1 trillion. Now it is over $15 trillion. EVERY President regardless of party mas massively inflated the “debt” or “money” it’s the same thing. It is policy to have the people bickering over which party manages it better when the system itself is flawed.
Remember, loaning what you do not have makes no sense….. at all!
And that’s exactly what banks and the Fed do.
That’s why the banks have their signs on the big buildings in town.
That’s why MBA’s go to work at the banks. Because that’s where the money is…. or isn’t!
So, why is there a Central Bank? It is to privatize the profits, and socialize the losses. It is so that those with access to the Central Bank (not you) can do whatever they want and stick the bill with the people. This means “social” programs (to enslave voters) or other purposes like funding a standing army. It was John Adams who disbanded the army when the non-war with France never happened and his “advisors” including Hamilton himself who always advocated and was instrumental in starting the first Central Bank wanted a standing army.
Adams vs Hamilton: http://tinyurl.com/62qbnzj
Where will the “debt” be in 20 years? 40 trillion. easily. How much will a cheeseburger, fries, and drink cost in 20 years? About $20 easily. Or more. A tank of gas ? $100.00. Or maybe $200.00.
The only reason people talk about it now is the same reason why no one cared that coffee went from $0.15 to $0.25. Or even $1,50 to $2.50. But coffee for $10.00? Or $20.00?
Remember it was Greenspen himself (funny name isn’t it… “Green” (money) and “Span” expansion) that said that without a gold system,
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There isno safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power andgovernment-created bank credit would be worthless as a claim on goods. The financial policyof the welfare staterequires that there beno way for the owners of wealth to protect themselves.http://tinyurl.com/6agsugv
Does this sound like a capitalist policy? Or not?
<a href=”http://icallyoufriend.com/2011/07/14/points-of-separation-part-3-the-age-of-the-prophet/”>Part Three : The age of the prophet</a>