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dreamer
Demolition Man


Joined: 09 Aug 2007
Posts: 2101
Location: Northern California

European Debt Crisis Threatens the Dollar
PostPosted: Mon Nov 14, 2011 10:00 pm Reply with quoteBack to top

Ron Paul with some clear thinking...it is obvious it will never get done...


Quote:
Bankers should take their dreaded haircut rather than making innocent people pay for their mistakes. The losses should be limited and liquidated, rather than perpetuated and rewarded.



http://news.goldseek.com/RonPaul/1321291080.php

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There isn't anything so bad that the Government can't make worse...

The 4-functions of government today are the same as a criminal enterprise: Lie, Cheat, Steal, and Kill...
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achtung
Nitroglycerin


Joined: 03 Jun 2010
Posts: 716
Location: Germany

Re: European Debt Crisis Threatens the Dollar
PostPosted: Tue Nov 15, 2011 1:03 am Reply with quoteBack to top

dreamer wrote:
Ron Paul with some clear thinking...it is obvious it will never get done...


Quote:
Bankers should take their dreaded haircut rather than making innocent people pay for their mistakes. The losses should be limited and liquidated, rather than perpetuated and rewarded.



http://news.goldseek.com/RonPaul/1321291080.php


So if the big bad banks only hold 40% of paper issued, then who owns the rest that needs the SAME haircut????

Cut one, cut all. People will get hurt no matter what the decision is.

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“Debt and deficits are not inventions of ideology. They are facts of arithmetic.”

– Paul Martin
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dreamer
Demolition Man


Joined: 09 Aug 2007
Posts: 2101
Location: Northern California

Re: European Debt Crisis Threatens the Dollar
PostPosted: Tue Nov 15, 2011 3:42 pm Reply with quoteBack to top

I agree. Anyone holding the paper debt should take a loss. Bailing out the holders 100% and putting it on the people's tab as has been done is criminal...well I guess when the gov't is a criminal enterprise what do you expect?

Quote:
"Republics are created by the virtue, public spirit, and intelligence of the citizens. They fall, when the wise are banished from the public councils, because they dare to be honest, and the profligate are rewarded, because they flatter the people, in order to betray them."
- Justice Joseph Story (1779-1845) US Supreme Court Justice



Quote:
“History records that money changers have used every form of abuse, intrigue, deceit, and violent means possible, to maintain their control over governments, by controlling money and it's issuance”
James Madison


as I recollect...Jesus beat the daylights out of them...they sure need a good beating now...


Quote:
"Everything predicted by the enemies of banks, in the beginning, is now coming to pass. We are to be ruined now by the deluge of bank paper. It is cruel that such revolutions in private fortunes should be at the mercy of avaricious adventurers, who, instead of employing their capital, if they have any, in manufacturing, commerce, and other useful pursuits, make it an instrument to burden all the interchanges of property with their swindling profits. Profits which are the price of no useful industry of theirs." (1813)
Thomas Jefferson


and there are so many more quotes of wisdom from the past that speak of the present and future...how come people were so much wiser and virtuous back then...things changed when God was banished from our schools and gov't...IMHO

_________________
There isn't anything so bad that the Government can't make worse...

The 4-functions of government today are the same as a criminal enterprise: Lie, Cheat, Steal, and Kill...
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achtung
Nitroglycerin


Joined: 03 Jun 2010
Posts: 716
Location: Germany

Re: European Debt Crisis Threatens the Dollar
PostPosted: Tue Nov 15, 2011 4:46 pm Reply with quoteBack to top

The problem is going to be the same, though. The innocent are going to lose way more than the banks.

The banks deal with the losses with swaps. The individual investor does not.

It is a classic standoff. Haircut or not the citizens will lose. Either higher taxes or lost principal and interest. Fine way to live out, ones retirement.

We already have 16% of seniors living in poverty. Sad that this number will likely double (with or without a haircut).

_________________
“Debt and deficits are not inventions of ideology. They are facts of arithmetic.”

– Paul Martin
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dreamer
Demolition Man


Joined: 09 Aug 2007
Posts: 2101
Location: Northern California

Re: European Debt Crisis Threatens the Dollar
PostPosted: Tue Nov 15, 2011 11:12 pm Reply with quoteBack to top

Quote:
When you see that men get richer by graft and by pull than by work, and your laws don't protect you against them, but protect them against you--when you see corruption being rewarded and honesty becoming a self-sacrifice--you may know that your society is doomed (Atlas Shrugged)

_________________
There isn't anything so bad that the Government can't make worse...

The 4-functions of government today are the same as a criminal enterprise: Lie, Cheat, Steal, and Kill...
View user's profileSend private message
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