0 votes

So why couldn't all debt just be written Off?

Seems to be a doable concept - I wouldn't have a problem with that happening. After all its just numbers



Trending on the Web

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

Dang...

... 1/2 trillion dollars printed and .75 rate cut in one week.

This is getting freaky.

=|

CAFR

According to Walter Burien all debts could not only be erased but there would be plenty of money left over for all needs public and private to turn this Country around. There are 2 sets of public accounting books, one represents spending and the other represents revenue. All the spending and debt is found in the Budget, all revenue is found in the CAFR (Comprehensive Annual Financial Report). To learn all about it go to www.cafr1.com

sad

Do you want Rockefeller's and Rothschild's to be sad ? ? ? Ron Paul knows. ..... http://www.youtube.com/watch?v=ji_G0MqAqq8&feature=related .... Ron Paul has us as his followers for a reason ......see...... http://www.youtube.com/watch?v=IWfIhFhelm8&feature=related

Liberty is our campaigns gift to the world it is our manifest destiny.
Freedom is a movement who's time has come. Our campaign will lead world wide freedom.

Try telling that to the

Try telling that to the mafia.

2nd Amendment

Another good reason to own a gun (or more).

Viva Agora!
Professor Bernardo de la Paz
www.citizenduquesne.org

dynamite anthrax supreme court white house tea party jihad
======================================
West of 89
a novel of another america
https://www.smashwords.com/books/view/161155#longdescr

could be done, but your

could be done, but your credit would be zero and the dollar would lose all value. It´s what will happen, when you go bankrupt.

Well, the credit part

Well, the credit part wouldn't be so bad. If the US didn't have "credit" to start with then we would have never gotten into the trouble we are now facing...

...

We print up

a single 9 Trillion dollar bill and hand it to Rothschild.

Debt repaid.

Buddy, you got change for a Bush-note? LOL

A: Nah, I don't take play money.

lol ;)

lol ;)

Congress has the authority to do this.

If it can be proven that the debt/fiat monetary system is patently unconstitutional then it is immediately discharged under the provisions of HJR 192. However the Constitutional monetary system must be in place beforehand (lawful gold and silver coin). Otherwise the IMF will direct the Federal Reserve Bank to dump Federal Reserve Notes (SDRs) at an accelerated rate to debase all purchasing power.

It takes 30 days to break a nation in this fashion. You'll be running around with a wheelbarrow full of cash trying to buy a loaf of bread. Mexico's peso was devalued in this manner in 1982. As a result the economically compromised government was easily replaced with U.N. sycophants (including Presidente Fox). Mexico is now a U.N. trust property and exists in name only. Brazil is next.

With all due respect, Gene...

...not if you have a buttload of your own wheat...

"You'll be running around with a wheelbarrow full of cash trying to buy a loaf of bread"

Yours in Liberty,

Shovel

Yours in Liberty,

Shovel

"Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote..." ~ Ben Franklin

"The 'cost of freedom' is risk and responsibility..." ~ Me

and the baker will stoke his stoves with the currency

and keep the wheelbarrow.

--------------------------------
"the only thing that keeps the banking system from failing is general ignorance about how the banking system works."
----------------------------

Ahhhh...

...another student of history....

Yours in Liberty,

Shovel

Yours in Liberty,

Shovel

"Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote..." ~ Ben Franklin

"The 'cost of freedom' is risk and responsibility..." ~ Me

Interesting image.

However your receptacle may be less sanitary than the one I proposed. ;-)

Ummmm...

Lol...

I'm guessing you are correct...

Yours in Liberty,

Shovel

Yours in Liberty,

Shovel

"Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote..." ~ Ben Franklin

"The 'cost of freedom' is risk and responsibility..." ~ Me

Because the value of the money is based solely on

the credibility of the payment of debts.

If they write off the debts teh dollar becomes worth less than a penny and it takes a wheelbarrow of money to buy bread.

The country would be ruined, in chaos.

I was wondering the same thing

The Freddie Mac owns 40% of the mortgages right? So what if they cut the principal by 40% to under cut the price fall on the housing market. They could in return require those mortgages holders to borrow their $30K share of the national debt to pay off their share of the deficit. This would strengthen the dollar and keep the mortgage holders willing to pay off their loan. That would knock a trillion off debt (assuming 2 people per house) in an instant and Freddie Mac could write off the loss with some help.

That's actually what will

That's actually what will probably happen. By continuing on our current course we will most likely experience hyperinflation which in effect will make our dollar-based debt as a nation equal basically zero.

Those of us invested in the

Those of us invested in the right places would probably benefit greatly with hyperinflation... but I hope to God that never happens. I'd rather remain in debt than to see our nation crumble to pieces...

...

i agree...

we are way past due for a "Year of Jubilee"...

2Chronicles 7:14 If my people, which are called by my name, shall humble themselves, and pray, and seek my face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sin, and will heal their land.

Christopher X

Nice to see someone who has read the Bible, and understands the "Year of Jubliee. This is the only way our nation will be forgiven it's debt, and start a fresh new monetary system, free of debt, but we must rid ourselves of the federal reserve, and the central banking system as well, and go back to a currency that is tied to something of value like gold, or silver, or some precious metal.

likewise...nice to meet you...

God will force a Jubilee on the world at some point and make the land rest. just like He did taking Israel to Babylon.

2Chronicles 7:14 If my people, which are called by my name, shall humble themselves, and pray, and seek my face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sin, and will heal their land.

Jubileery

Until Jesus or Juju or Jupiter come out of the Phantom Zone and make it all better for God's Chilluns, creditors and debtors will continue to be real people who will suffer real damage if they don't get the payments to which they are contractually entitled.

Admittedly, debts incurred by the Fe'ral Govt. contrary to Constitutional authority would NOT be binding on the people as a whole, and therefore we might justifiably repudiate many of these "debts", but we must not simply wipe the slate willy-nilly for every mope who got in over his head.

Case by case basis, dudes!
Viva Agora!
Professor Bernardo de la Paz
www.citizenduquesne.org

dynamite anthrax supreme court white house tea party jihad
======================================
West of 89
a novel of another america
https://www.smashwords.com/books/view/161155#longdescr

Bad news.

This principle does apply in this instance and Congress had the power to invoke it. However they voted in 2001 to renew the obligation to the IMF and World Bank even though they knew it was unconstitutional. Let's address this issue with them sometime around June 21st when we're in town.

Regarding the obligation of U.S. citizens to pay the debts (whether lawful or not) of our de facto government it would behoove you to read the XIV Amendment, Section 4, Clause 1: "The validity of the public debt of the United States...shall not be questioned." In other words, if you are a U.S. citizen, they will not only make you pay THEIR debts, but they won't even let you question it's validity. You guys are so benevolent.

it could be- sort of

Fortune Favors the Bold

elites only have power because people fear them. If nobody listened to them, they would lose their power. As long as the fiat money system is confused with real monetary value, this won't happen. This is why competeing currencies, or ideas like the community credit bank i've been supporting, are important causes to support.

Fortune Favors the Bold

Doing that wouldn't stop the

Doing that wouldn't stop the economic crash and would likely make it a lot worse.

...

so true, what do you think

so true, what do you think China would have to say about not getting their money? Sounds like fighting words to me.

Who cares...

about China, they have managed to give us defective goods, and have managed to build a military that is 10x bigger than ours physically.
Screw China, screw the entire world, we have managed to take care of them far too long, and what do we get, nothing, but grief. I say we say to the hell with them all, and start taking care of the American citizens, and tell all the other nations to kiss our arses, and fend for ourselves. We have been invaded by illegals, and people from other nations for handouts, and our own citizens, and veterans are living in the streets while these illegals and other nations eat our food, partake of our taxpaying dollars in food stamps, welfare, low-cost housing, and food sent out to other countries while the leaders of their very own countries live like Kings and we all pay for it with our hard earn labor, and money.
I personally am done, and will not do this crap anymore.

Hey, I am not a fan of China

Hey, I am not a fan of China either but are you saying we should not pay them back the trillians we owe them, just say "Suckers" and forget about it? I do not think they will care to much for it.