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Billions for Bankers–Debts for the People — 5 Comments

  1. This is a great article portions of which ought to be part of every basic high school curriculum. The discussion on how the money supply works and how debt works is really good.

  2. Exactly Larry. It’s in very basic terms and not overbearing in statistics or theory. Just good basic information that everyone should know and understand. If half the people in the country understood these basics our liberty wouldn’t be just an illusion. The problem is how does it change? JFK gave it a shot. That didn’t work out very well for him. Maybe we do need to adopt one little portion of sharia. No interest money. 🙂

    • We have no interest money already…that is, the banks do. The Feds have provided unlimited supplies of free money for the banks to make money on by loaning it out or buying risky assets or just saving it…criminal, imho.

    • The above comment I made is, I must admit, too shallow to be of much use. More a rant. The issue is much deeper than that. We are so far into this process that I am not sure how to get out. If the Fed can pull it off without crashing our economy I will be really surprised. We had a little taste when Bernanke open his mouth a few days ago. if rates start going up for real, the debt burden will soar and the economy will crash. Individual wealth that has survived in the last five years will be lost, businesses will fail and we will all be screwed. Keep gold and guns. A little food and water would help.

      • As low as bond rates are up is the only way they can go. With our debt level if they rise to anything near a normal market rate every dollar taxed away will go to servicing the debt. Yes at that point it will all come apart. If our federal reserve were just American banks it would just suck to be them when the govt went into default. Problem is they are multinational. If the government was going to set us up to be fleeced they could have at least made sure it was just American banks doing the fleecing. It’s an ugly situation that sooner or later won’t end well.

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