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RE: 10 Things That Would Be Different If The Federal Re... - 1/12/2011 6:28:08 PM   
Termyn8or


Posts: 18681
Joined: 11/12/2005
Status: offline 		"WRONG.   There would be no need for interest if the money was created by the actual government. "

Your turn.

T

(in reply to DomKen)
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RE: 10 Things That Would Be Different If The Federal Re... - 1/12/2011 6:36:38 PM   
DomKen


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From: Chicago, IL
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quote:

ORIGINAL: Termyn8or

"WRONG.   There would be no need for interest if the money was created by the actual government. "

Your turn.

T

No one pays interest on printed currency. I think this boils down to a deep misunderstanding of what the Federal Reserve does. The US government nevers pays the fed. Actually the fed pays the US government for the cost of making the paper currency and the face value of new coins.

(in reply to Termyn8or)
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RE: 10 Things That Would Be Different If The Federal Re... - 1/12/2011 6:40:07 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		Then why do we owe 14 trillion $?

(in reply to DomKen)
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RE: 10 Things That Would Be Different If The Federal Re... - 1/12/2011 6:52:06 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		 The Fed Has Spoken - No Bailout For Main Street"

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RE: 10 Things That Would Be Different If The Federal Re... - 1/12/2011 7:01:42 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		It's Raining BANKSTER Bullshit - Irish Leaders Castigated As Greatest TRAITORS Of All Time

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RE: 10 Things That Would Be Different If The Federal Re... - 1/12/2011 7:02:40 PM   
Termyn8or


Posts: 18681
Joined: 11/12/2005
Status: offline 		Common mentality Hunky. "The government owes that money to itself" is the next spet down from that.

If that's true, then just stop paying the interest like I said. We are robust, able to kick ass and we don't need shit from anyone. Rah rah rah. USA NUMBER ONE got that ? We are the only island. Oh wait, when we WANT something, other islands spring up just out of nowhere.

Oh and the national debt has nothing to do with our supposed trade suplus either.

Yeah right.

T

(in reply to pahunkboy)
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RE: 10 Things That Would Be Different If The Federal Re... - 1/12/2011 7:13:15 PM   
Musicmystery


Posts: 30259
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quote:

I can see things you can't, and/or others as well.


It's a pity you can never back those insights with factual data.

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RE: 10 Things That Would Be Different If The Federal Re... - 1/12/2011 7:16:05 PM   
Musicmystery


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quote:

The total value of the dollars, all of them together is what we are worth. That's what happens once a currency is agreed upon.


No, not at all. You are confusing currency, money, and wealth.

(in reply to Termyn8or)
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RE: 10 Things That Would Be Different If The Federal Re... - 1/13/2011 12:16:53 AM   
Termyn8or


Posts: 18681
Joined: 11/12/2005
Status: offline 		Curd and whey.

Why do we pay $400 billion in interest ?

T

(in reply to Musicmystery)
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RE: 10 Things That Would Be Different If The Federal Re... - 1/13/2011 1:23:44 AM   
willbeurdaddy


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quote:

ORIGINAL: Termyn8or

Curd and whey.

Why do we pay $400 billion in interest ?

T


mmmm. maybe because we owe it.

_____________________________

Hear the lark
and harken
to the barking of the dogfox,
gone to ground.

(in reply to Termyn8or)
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RE: 10 Things That Would Be Different If The Federal Re... - 1/13/2011 4:59:50 AM   
Termyn8or


Posts: 18681
Joined: 11/12/2005
Status: offline 		"mmmm. maybe because we owe it. "

You don't say...........

T

(in reply to willbeurdaddy)
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RE: 10 Things That Would Be Different If The Federal Re... - 1/13/2011 7:53:32 AM   
DomKen


Posts: 19457
Joined: 7/4/2004
From: Chicago, IL
Status: offline
quote:

ORIGINAL: pahunkboy

Then why do we owe 14 trillion $?

Because the US government has sold $14 trillion worth of outstanding Treasury securities (assuming that figure is correct).

The federal government borrows money by selling bonds. For instance if you've ever owned a savings bond you owned a small piece of the government's debt.

(in reply to pahunkboy)
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RE: 10 Things That Would Be Different If The Federal Re... - 1/13/2011 8:10:27 AM   
DCWoody


Posts: 1401
Joined: 10/27/2006
Status: offline 		#1 is wrong
#2 is wrong
#3 is wrong
#4 is wrong
#5 is wrong
#6 is wrong (it's amazing how I, a foreigner, have a much clearer understanding of how your system works than wherever these retards have got their info from, they clearly have no idea what they're talking about)
#7 is wrong (that graph is monstrous)
#8 is wrong and just plain retarded
#9 is....technically true (if the federal reserve did not exist, the federal reserve would not exist)....but phrased in the most retarded misleading way
#10 is pure speculation. Maybe the american people would be much more free if the usa hadn't entered the space race. If the dodo hadn't gone extinct. If you'd had a President Clitoris. Who knows.


Glad to clear that up for ya pah :)

(in reply to pahunkboy)
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RE: 10 Things That Would Be Different If The Federal Re... - 1/13/2011 8:11:45 AM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline
quote:

ORIGINAL: DomKen


quote:

ORIGINAL: pahunkboy

Then why do we owe 14 trillion $?

Because the US government has sold $14 trillion worth of outstanding Treasury securities (assuming that figure is correct).

The federal government borrows money by selling bonds. For instance if you've ever owned a savings bond you owned a small piece of the government's debt.


If we sold an asset- then we should be getting royalties from it.

Do you pay interest on your checking account?  If not then why?

(in reply to DomKen)
Profile   Post #: 34
RE: 10 Things That Would Be Different If The Federal Re... - 1/13/2011 8:16:28 AM   
DomKen


Posts: 19457
Joined: 7/4/2004
From: Chicago, IL
Status: offline
quote:

ORIGINAL: pahunkboy

quote:

ORIGINAL: DomKen


quote:

ORIGINAL: pahunkboy

Then why do we owe 14 trillion $?

Because the US government has sold $14 trillion worth of outstanding Treasury securities (assuming that figure is correct).

The federal government borrows money by selling bonds. For instance if you've ever owned a savings bond you owned a small piece of the government's debt.


If we sold an asset- then we should be getting royalties from it.

Do you pay interest on your checking account?  If not then why?


Unsold bonds aren't assets. They're pieces of paper. A bond is sold based upon the premise that the government will redeem the bond for a set value at the maturity date of the bond. The difference between that maturity value and the price the bond is sold for is the interest paid on that debt.

(in reply to pahunkboy)
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RE: 10 Things That Would Be Different If The Federal Re... - 1/13/2011 8:17:41 AM   
DCWoody


Posts: 1401
Joined: 10/27/2006
Status: offline 		Pah, answer me a straight question.
Given that the usa government is currently spending ~1trillion US$ per year more than it's receiving in revenue, it has to borrow that ~1trillion difference.

If the federal reserve did not exist.....where would the us government get that 1tril (or however much the deficit happened to be) from?

(in reply to pahunkboy)
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RE: 10 Things That Would Be Different If The Federal Re... - 1/13/2011 8:20:19 AM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline
quote:

ORIGINAL: DCWoody

Pah, answer me a straight question.
Given that the usa government is currently spending ~1trillion US$ per year more than it's receiving in revenue, it has to borrow that ~1trillion difference.

If the federal reserve did not exist.....where would the us government get that 1tril (or however much the deficit happened to be) from?



We would get it from our self.  This is in the Constitution.   We would not get it from a private central bank- because we would owe interest on it.

(in reply to DCWoody)
Profile   Post #: 37
RE: 10 Things That Would Be Different If The Federal Re... - 1/13/2011 8:26:19 AM   
DCWoody


Posts: 1401
Joined: 10/27/2006
Status: offline 		"We would get it from our self."


...


That isn't very helpful pah.


Picture this:Obama has spent every penny of income for the year.....on the first 8 months of.....various military, police, education, roads...repainting the white house....etc. The govt has US$0.00 money, there is no tax income/liscence fees/whatever due for another 4 months.....there are hundreds of thousands of teachers & soldiers & congressers expecting their paychecks.

There is no federal reserve to interfere. It doesn't exist.

WHERE specifically does he get the money from?

(in reply to pahunkboy)
Profile   Post #: 38
RE: 10 Things That Would Be Different If The Federal Re... - 1/13/2011 8:27:48 AM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline
quote:

ORIGINAL: DCWoody

"We would get it from our self."


...


That isn't very helpful pah.


Picture this:Obama has spent every penny of income for the year.....on the first 8 months of.....various military, police, education, roads...repainting the white house....etc. The govt has US$0.00 money, there is no tax income/liscence fees/whatever due for another 4 months.....there are hundreds of thousands of teachers & soldiers & congressers expecting their paychecks.

There is no federal reserve to interfere. It doesn't exist.

WHERE specifically does he get the money from?



Tell me about this income tax.

Could we say revert to 1912 rates, and function as we did in 1912?

(in reply to DCWoody)
Profile   Post #: 39
RE: 10 Things That Would Be Different If The Federal Re... - 1/13/2011 8:29:56 AM   
DCWoody


Posts: 1401
Joined: 10/27/2006
Status: offline 		"Could we say revert to 1912 rates, and function as we did in 1912?"

I don't care. It doesn't make shit all difference to my question. The US runs a deficit almost every year.

WHERE DO YOU GET THE MONEY FROM?

(in reply to pahunkboy)
Profile   Post #: 40
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