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Old March 20th, 2013, 08:34 PM   #71
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Originally Posted by Fayt View Post
No I didn't mean freaking anything. It's a metaphorical term that gives a picture of right-wing warrior who's paid to protect their partisan sponsor despite being proven wrong.

I always picture people like Jimmy dressed in Roman artier standing in front of millionaires and billionaires like Rupert Modock with a huge Roman shield.

idk, something like this
That is the difference between us. Not only did you make up the entire Republican shield, and your explanation about it is completely manufactured. But the first thing that came to my mind were the Roman's because knowledge of history does not come from the Google.

I picture Fayt on the outside of a building of higher education peering in the window, wondering what is going on in there.
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Old March 21st, 2013, 07:45 AM   #72
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I do know you #$%*(%*#, did you read anything? It's term that pretty much tell the peoples who are holders of our currency (dollars or bonds) that our U.S. government put its trust in it. In other words faith hence, "Full Faith". It's a contract meaning that if something would to happen to our dollar, then our government would meet it's end of their obligation and repay the holder of the bonds or dollar, hence "credit". We American (and other countries) decided that our dollar is money and that we're willing to work for that dollar.

There for it's valuable.
I see. The US government puts its trust in the currency created by bankers, private bankers. Why should the government put trust in currency created by private bankers?

If "something" were to happen to our dollar, the dollar created by private bankers? Something like what? Please explain some "something" that could happen to our dollar.

Then explain how the government, and not the people, "repays," or "meets its end of their obligations," obligations meaning "debts," right?
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Old March 21st, 2013, 10:37 AM   #73
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Originally Posted by imaginethat View Post
I see. The US government puts its trust in the currency created by bankers, private bankers. Why should the government put trust in currency created by private bankers?

If "something" were to happen to our dollar, the dollar created by private bankers? Something like what? Please explain some "something" that could happen to our dollar.

Then explain how the government, and not the people, "repays," or "meets its end of their obligations," obligations meaning "debts," right?
POINT SET MATCH... Imaginethat.. SHOOTS SCORES TAKES THE MATCH.

if the currency is not backed all it is worth is nothing more than DIRTY RAGS..

Like I said, Fyat lives at home and thinks money grows on trees..
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Old March 21st, 2013, 02:46 PM   #74
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Originally Posted by imaginethat View Post
I see. The US government puts its trust in the currency created by bankers, private bankers. Why should the government put trust in currency created by private bankers?

If "something" were to happen to our dollar, the dollar created by private bankers? Something like what? Please explain some "something" that could happen to our dollar.

Then explain how the government, and not the people, "repays," or "meets its end of their obligations," obligations meaning "debts," right?
It's still U.S. dollars imaginethat and the U.S. government still have the power to mint coin. The U.S. considers its currency legitimate therefore it has the full faith of our government. What can happen to our dollar is either devaluation or degrading, which happen with the hold debt ceiling I think a couple of years back. There was an article by S&P blaming the de-ranking on the republicans.

If something truly bad would to happen to our currency (breaking of our contract) then our government will try to do anything to make sure whoever is repaid. That can be done with interest. I don't know all the solutions, but that's the basic definition.

You know imaignethat, you still yet to acknowledge my argument about why the gold standard isn't doable anymore and that our economy and debt was doing just fine until Reaganomics/Clintonomics (with Free Trade).

You're full of questions, but know acknowledgement of the answers. Don't become like Jimmy.
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Old March 21st, 2013, 02:59 PM   #75
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Originally Posted by Fayt View Post
It's still U.S. dollars imaginethat and the U.S. government still have the power to mint coin. The U.S. considers its currency legitimate therefore it has the full faith of our government. What can happen to our dollar is either devaluation or degrading, which happen with the hold debt ceiling I think a couple of years back. There was an article by S&P blaming the de-ranking on the republicans.

If something truly bad would to happen to our currency (breaking of our contract) then our government will try to do anything to make sure whoever is repaid. That can be done with interest. I don't know all the solutions, but that's the basic definition.

You know imaignethat, you still yet to acknowledge my argument about why the gold standard isn't doable anymore and that our economy and debt was doing just fine until Reaganomics/Clintonomics (with Free Trade).

You're full of questions, but know acknowledgement of the answers. Don't become like Jimmy.
the Currency is backed by the US Government.

You mean the US GOVERNMENT that is 16,700,000,000,000 in debt?

You mean the US Government that has OVER EXTENED it's obligations via promisary notes to SOCIAL SECURITY AND MEDICARE by $122,000,000,000,000

HOW THE HECK IS THE US GOING TO GET EACH AND EVERY US CITIZEN TO PAY 1,086,000 on top of FUNDING THE ANNUAL SPENDING OF THE US GOVERMENT OF 3,400,000,000,000 every year?
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Old March 21st, 2013, 03:55 PM   #76
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Originally Posted by Fayt View Post
It's still U.S. dollars imaginethat and the U.S. government still have the power to mint coin. The U.S. considers its currency legitimate therefore it has the full faith of our government. What can happen to our dollar is either devaluation or degrading, which happen with the hold debt ceiling I think a couple of years back. There was an article by S&P blaming the de-ranking on the republicans.

If something truly bad would to happen to our currency (breaking of our contract) then our government will try to do anything to make sure whoever is repaid. That can be done with interest. I don't know all the solutions, but that's the basic definition.

You know imaignethat, you still yet to acknowledge my argument about why the gold standard isn't doable anymore and that our economy and debt was doing just fine until Reaganomics/Clintonomics (with Free Trade).

You're full of questions, but know acknowledgement of the answers. Don't become like Jimmy.
Why are you not using the Article 1, Section 8 now for the authority to print money? What happened to that argument?

Why have you never addressed the full faith and credit clause of the Constitution that has nothing to do with money?

Why have you never answered IT's question about exactly what full faith and credit means?

What is "degrading" of the dollar? Is it when someone talks bad about it? Is it when it gets humiliated by the Euro? I need to know.

How does the dollar get devalued?

What is de-ranking of the dollar? Is there an international ranking system?

How do we break a contract with our currency?

Who exactly gets repaid when someone breaks a contract with our money? What do they get repaid for?

Why is it exactly that the gold standard is bad? You haven't made that argument yet.

Explain how our economy was doing fine until Reagan by answering each question good or bad:

Under Reagan’s policies, the tax burden for the lowest 50% of wage earners dropped from 7.4% to 5.4%. This was good or bad?

Under Reagan’s policies, the lowest 50% of wage earners' income increased by 17.9%. This was good or bad?

Under Reagan’s policies, interest rates based on a prime rate of 21.5% under Carter for home loans, auto loans, etc., dropped to 9% under. This was good or bad?

Under Reagan’s policies, the inflation rate dropped from 13.5% under Carter with prices increasing 25% in two years, to 3.2%. This was good or bad?

Under Reagan’s policies, the tax burden on the top 5% of wage increased from 45.6% to 65% of all taxes paid. This was good or bad?

Under Reagan’s policies, the middle class tax burden dropped from 57.2% to 48.7% of total taxes. This was good or bad?

Under Reagan’s policies, the percentage of the population below the poverty level dropped from a high of 15.2% to a low of 6%, it had increased 33% from 11.4% to 15.2% the last two years under Carter. This was good or bad?

Under Reagan’s policies, spending was reduced by $31 billion in 1981, or 5% of the budget—that is $150 billion in today’s dollars. At the end of 1983, non-defense spending had declined to 16.8% from 14.4%. Non-defense spending never returned to 1981 levels under Reagan. This was good or bad?

Under Reagan’s policies, including defense, federal spending dropped from 23.5% of the GDP to 21.2% of GDP when he left office. This was good or bad?

Under Reagan’s policies, the size of the government relative to GDP was 10% less when left office compared to when he came into office. This was good or bad?

Under Reagan’s policies, the middle class, or the taxpayers in the middle 50-95 percent, saw their incomes rise 21.4%. This was good or bad?

Under Reagan’s policies, the economy grew by one-third, which was the size of the third largest economy in the world, Germany. This was good or bad?

Under Reagan’s policies, the standard of living increased by 20%. This was good or bad?

Under Reagan’s policies, the stock market tripled, after losing 70% of its value under Carter. This was good or bad?

Under Reagan’s policies, the price of oil and gas declined by 50% after deregulation. This was good or bad?

Under Reagan’s policies, there was a 92 month expansion of the economy which ended in 1990 after the budget deal increased taxes. This was good or bad?

Under Reagan’s policies, twenty million new jobs were created during this 92 month expansion of the economy. This was good or bad?

Under Reagan’s policies, the GDP growth rate for his term was 4.33%, with a 7.2% in 1984. This was good or bad?

Under Reagan’s policies, the unemployment rate fell from 10.8% to 5.3%. This was good or bad?
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Old March 21st, 2013, 05:00 PM   #77
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All of you really need to knock off the shit. Money is controlled by a handfull of very rich men. These very same men have a goal of total worldwide monetary control that will soon result in mandated imbedded computer chips for all of us. Computer chips will probably not be needed for the vast majority of people who are poor - they don't really count and are a huge burden.
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Old March 21st, 2013, 05:30 PM   #78
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Quote:
Originally Posted by Fayt View Post
It's still U.S. dollars imaginethat and the U.S. government still have the power to mint coin. The U.S. considers its currency legitimate therefore it has the full faith of our government. What can happen to our dollar is either devaluation or degrading, which happen with the hold debt ceiling I think a couple of years back. There was an article by S&P blaming the de-ranking on the republicans.

If something truly bad would to happen to our currency (breaking of our contract) then our government will try to do anything to make sure whoever is repaid. That can be done with interest. I don't know all the solutions, but that's the basic definition.

You know imaignethat, you still yet to acknowledge my argument about why the gold standard isn't doable anymore and that our economy and debt was doing just fine until Reaganomics/Clintonomics (with Free Trade).

You're full of questions, but know acknowledgement of the answers. Don't become like Jimmy.
Only you believe the responses you give are answers. "It's still US dollars...." I don't know what you're trying to say? Paper dollars which are Federal Reserve Notes? Or currency created by adding a zero here and there on a computer?

"The U.S. considers its currency legitimate therefore it has the full faith of our government...." That's nonsense. Who's the US? Who's the government? What is US currency?

I know what currency devaluation is - the 2012 dollar is worth three or four 1913 cents - but what is "degrading" the dollar?

How does the US government repay anyone? Are you speaking of the US government borrowing money, and then repaying debts? Do your realize the insanity of what I just asked?

I've acknowledged your argument about why the gold standard isn't doable. I don't agree with you. I can't make you see it if you won't see it. Nixon's breaking the tie to specie ushered in the explosive debt racked up by Reagan, Bush, and Obama.

I've acknowledged your answers. Some of them just don't make sense. Some use terminology you haven't defined. Some are just plain wrong.
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Old March 22nd, 2013, 04:48 AM   #79
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Speaking of currency devaluation.

Is that not a tax?

It absolutely is a tax.

It is an action taken by our federal government that causes you and me, the little people, to pay more to live. Just because there is not a one to one correlation of a dollar flowing from my back pocket into the black hole of the government doesn’t mean it is not a tax.

Remember, there are many types of taxes.
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Old March 22nd, 2013, 07:37 AM   #80
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Speaking of currency devaluation.

Is that not a tax?

It absolutely is a tax.

It is an action taken by our federal government that causes you and me, the little people, to pay more to live. Just because there is not a one to one correlation of a dollar flowing from my back pocket into the black hole of the government doesn’t mean it is not a tax.

Remember, there are many types of taxes.
Ron Paul called it the inflation tax, and as you note, it's a stealth tax.

Currency devaluation is inflation, and the creators of currency in our fractional banking system where required reserves are 0-10 percent have virtually and factually no restraint on them as to how much currency to create.

Thus, the point of this statement:

“Give me control of a nation's money and I care not who makes it's laws." -- Mayer Amschel Bauer Rothschild

And the truth of this one from the same guy:

"The few who understand the system, will either be so interested from it's profits or so dependent on it's favors, that there will be no opposition from that class."
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