0 votes

absolutely MUST SEE video

This, thanks to Gary North:

http://www.garynorth.com/public/4527.cfm

4 minutes of education on the financial situation we are facing today. Please watch this and make sure you are seated.

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This is a good one and just so itulip.com

does get credit....this is from Eric Janszen's site
at www.itulip.com and it is another great site to read for keeping track of our financial woes.

NCMarc's picture

don't understand

what do they mean borrowing never exceeded $1.5 billion? we've borrowed more than $7 trillion before all this, am I wrong? what # are they referring to?
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Stock up, it's gonna be a long winter.

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A great empire, like a great cake, is most easily diminished at the edges. - Ben Franklin

I may be incorrect..

But I believe that the way it works with the FED, is that every year we pay Income Tax which pays for the interest only on our "loan" from the FED. So, all of the money, not just the money borrowed during the crises featured in the video, is added together - especially since 1971. That's how we get the inflation tax Ron Paul speaks about - they print fiat money, but use our payroll taxes as the "real" money. Basically, we have a credit card and never pay down the principle balance. So, the trillions stack up and in September and October the FED and Congress added another 1.8 Trillion to the mix, outside of the Trillion for the yearly budget.

Fun huh?!

"In the beginning of a change the patriot is a scarce man, and brave, and hated and scorned. When his cause succeeds, the timid join him, for then it costs nothing to be a patriot."--Mark Twain

bump

good posts deserve bumps.

http://www.votenader.org/blog/2008/09/10/statement-to-ron-pa...
http://www.flickr.com/photos/57925480@N00/2660779139/sizes/l/

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I know it's really bad

But isn't today a different situation? Aren't all foreign currencies dependent on the dollar, so if it falls then all currencies fall? So isn't this just our government holding the world hostage economically?

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Start getting freedom today by dumping Federal Reserve Notes, Stocks, Banks and anything made outside the USA. Buy precious metals, real estate, businesses, food and guns and get your business community to use local or sound currenc

different indeed

Like it was different AFTER the Titanic split in half.

Note the deflection of the debt that occurred over the past few months. Does this look any kind of sustainable?

Smell the coffee. It IS certainly different, and in NO good way at all.

I believe someone posted

I believe someone posted this yesterday or the day before, but it is an excellent video that puts our government's current financial activities into proper perspective. The chart at the end is downright appalling.