I think I may not have been clear about what I meant in my statement. I believe we're talking about two different segments of the same problem.

I absolutely agree with you that there has been very poor management of the U.S. debt over the past few years, especially in over the financial bail out/sub-prime mortgage/housing bubble fiasco. And yes, some (many?) of those individuals culpable are working with the current cabinet.

However, my thoughts were more to the fact that 1/2 the American national debt (some $5+ Trillion) is interest. I see this as a crime no single individual could commit over night. Yes, the last few years have had fuck-ups and thefts of the common purse on a colossal scale, but the majority of the (compound) interest on the the U.S. debt was accumulated before the bank bail out. I see those responsible as being the people who permitted the system with a privatized central bank. Money is now created by private companies through debt which the taxpayer is charged compound interest on.

NEW YORK -- Here's a new way to think about the U.S. government's epic borrowing: More than half of the $9 trillion in debt that Uncle Sam is expected to build up over the next decade will be interest.

More than half. In fact, $4.8 trillion.

If that's hard to grasp, here's another way to look at why that's a problem.

In 2015 alone, the estimated interest due - $533 billion - is equal to a third of the federal income taxes expected to be paid that year. /CNN, 2009.

At the point where one third of the income tax you pay goes straight to the interest on existing debt, you are, in effect, being indirectly taxed by the private banks or foreign powers who loaned the money in the first place. They do not offer representation with that taxation. And the "leaders" of the past signed off on the future-tax.


>> ^Yogi:

>> ^notarobot:
@NetRunner, @GenjiKilpatrick, It is unfair to blame any single person in recent memory. Not Bernake, not Greenspan. They were making the best choices they knew to make given the system they have inherited.
The people at fault are no longer alive today. I'm sure I don't know American history as well as Americans, but I know that similar issues are being faced by pretty much every country that has left the management of the nation's money supply in the hands of private interests. For myself, in Canada, I'm pretty worried.
"Give me control of a nation's money and I care not who makes it's laws" — Mayer Amschel Bauer Rothschild
“Once a nation parts with the control of its currency and credit, it matters not who makes that nation's laws. Usury, once in control, will wreck any nation. Until the control of the issue of currency and credit is restored to government and recognized as its most conspicuous and sacred responsibility, all talk of the sovereignty of Parliament and of democracy is idle and futile.”
-William Lyon Mackenzie King, former Prime Minister of Canada.

The people at fault are very much alive because they could've done something to prevent it years ago. They're in Obamas cabinet now.

>> ^notarobot:

@NetRunner, @GenjiKilpatrick, It is unfair to blame any single person in recent memory. Not Bernake, not Greenspan. They were making the best choices they knew to make given the system they have inherited.
The people at fault are no longer alive today. I'm sure I don't know American history as well as Americans, but I know that similar issues are being faced by pretty much every country that has left the management of the nation's money supply in the hands of private interests. For myself, in Canada, I'm pretty worried.
"Give me control of a nation's money and I care not who makes it's laws" — Mayer Amschel Bauer Rothschild
“Once a nation parts with the control of its currency and credit, it matters not who makes that nation's laws. Usury, once in control, will wreck any nation. Until the control of the issue of currency and credit is restored to government and recognized as its most conspicuous and sacred responsibility, all talk of the sovereignty of Parliament and of democracy is idle and futile.”
-William Lyon Mackenzie King, former Prime Minister of Canada.


The people at fault are very much alive because they could've done something to prevent it years ago. They're in Obamas cabinet now.

@NetRunner, @GenjiKilpatrick, It is unfair to blame any single person in recent memory. Not Bernake, not Greenspan. They were making the best choices they knew to make given the system they have inherited.

The people at fault are no longer alive today. I'm sure I don't know American history as well as Americans, but I know that similar issues are being faced by pretty much every country that has left the management of the nation's money supply in the hands of private interests. For myself, in Canada, I'm pretty worried.

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

“Once a nation parts with the control of its currency and credit, it matters not who makes that nation's laws. Usury, once in control, will wreck any nation. Until the control of the issue of currency and credit is restored to government and recognized as its most conspicuous and sacred responsibility, all talk of the sovereignty of Parliament and of democracy is idle and futile.”

-William Lyon Mackenzie King, former Prime Minister of Canada.

There we have it...how long did you watch? Did you watch up to the parts where I was depressed and upset? Did you watch up to the parts when I get enraged at the system? Did you watch up to the part where I was like "wtf?! This isn't a fucking documentary?!" You should really watch whatever you're posting...at least 80% of it just like I should really watch 100% of something before I start commenting. Egg on both our face...>> ^blankfist:

>> ^enoch:
the progressive arc of my reactions to this documentary:
interesting...
yeah..no child left behind is an abomination!
college debt as the new financial bubble..right on!
falsely inflating job demand in order to bolster enrollment,
in order to receive more funding?
oh man..this documentary is going to be GREAT!
buy silver?
wait..what?
ben bernake?whats he doing in this film?
lawyers are the root of all this?
huh?
they just work for the bankers,financiers and captains of industry.
buy more silver..
wait...whats goin on?
heeeeeeeeey..
am i being PUNK'D?
oh god dammit..blankie fucking got me ...again.
thats it!
im taking my toys and going home!
/storms off

Ha. Well, I haven't watched the whole thing, to be honest. Though, their site does review sellers of gold and silver, and remember that gold company Glenn Beck was pushing really hard a year or two back? They're called Goldline. NIA basically gave them a bad review of two stars: http://inflation.us/reviews/goldline.html
And their stock suggestions have worked out well for me. But that's mainly because I think it's a good idea to bet against the US dollar, especially now, and their stock suggestions are basically mostly that.

>> ^enoch:

the progressive arc of my reactions to this documentary:
interesting...
yeah..no child left behind is an abomination!
college debt as the new financial bubble..right on!
falsely inflating job demand in order to bolster enrollment,
in order to receive more funding?
oh man..this documentary is going to be GREAT!
buy silver?
wait..what?
ben bernake?whats he doing in this film?
lawyers are the root of all this?
huh?
they just work for the bankers,financiers and captains of industry.
buy more silver..
wait...whats goin on?
heeeeeeeeey..
am i being PUNK'D?
oh god dammit..blankie fucking got me ...again.
thats it!
im taking my toys and going home!
/storms off


Ha. Well, I haven't watched the whole thing, to be honest. Though, their site does review sellers of gold and silver, and remember that gold company Glenn Beck was pushing really hard a year or two back? They're called Goldline. NIA basically gave them a bad review of two stars: http://inflation.us/reviews/goldline.html

And their stock suggestions have worked out well for me. But that's mainly because I think it's a good idea to bet against the US dollar, especially now, and their stock suggestions are basically mostly that.

the progressive arc of my reactions to this documentary:
interesting...
yeah..no child left behind is an abomination!
college debt as the new financial bubble..right on!
falsely inflating job demand in order to bolster enrollment,
in order to receive more funding?
oh man..this documentary is going to be GREAT!
buy silver?
wait..what?
ben bernake?whats he doing in this film?
lawyers are the root of all this?
huh?
they just work for the bankers,financiers and captains of industry.
buy more silver..
wait...whats goin on?
heeeeeeeeey..
am i being PUNK'D?

oh god dammit..blankie fucking got me ...again.
thats it!
im taking my toys and going home!
/storms off

>> ^volumptuous:
Ron Paul: "blah blah blah for 9/10ths of my time, then I'll ask you 100 questions at the end you'll not have time to answer, then I'll finally get to my point, which is the conspiracy of the ONE WORLD GOVERNMENT.. IS THERE ONE??"
Ben: "No."
Paul: "Are you sure?"
Ben: "Yep."

fin


You've missed the point - As far as Ron Paul is concerned - he gave Bernanke an inch - but it was enough for him to indite (hang?) himself.

I mean, Ron Paul is just getting Bernake on record - thats functionally useful for all sorts of reasons.


And this conspiracy of one world government tosh is not at all representative of what was said in any sensible way. I think you have largely misunderstood the content of that dialogue. Or you are just very loose with your opinions.

has anyone here heard of 1921? probably not right? Thats because when that recession hit, the government didn't step in and the market corrected itself in less than 6 months.

how about 1929? probably yes right? The great depression was caused by government intervention. Case in point, when people were on the streets starving in bread lines and eating ketchup sandwhiches, the government was busy burning 10,000,000 acres of crops and slaughtering 6,000,000 pigs! Yes you heard that right! The government was operating on the principle that if they reduced the supply they would increase prices and thus help out the farmers. Absolutely insane!

This is the same school of economic thought we have with us today, its the same erroneous thought Paulson and Bernake subscribe to. They think that the government can turn on the printing press and solve all the problems (of course they aren't naive, this makes them a lot of money--Paulson made $50 million last year). If that was true, why don't we just keep on the printing press even when the economy is good? Why not print the money to solve all our healthcare and energy problems--shoot why not cure poverty if we can just infuse money out of thin air into economies to fix them?

The government doesn't create wealth. The government cant improve the economy, it can't fix a recession, all it can do is take from A and give to B. All it can do is take your money and give it to AIG or Fannie Mae. It can create money, but it cannot create wealth--that is something only the market can do.

In my opinion, anyone in a position of power who is knowledgeable about economics, and tries to blame this on anything aside from the CRA or the federal reserve should be charged with fraud and sent to jail for a LONG time.

1. greenspan
2. paulson
3. bernake

come to mind.

And NetRunner, 3 out of 5 of the authors conclusions are complete nonsense. (2,3, and 5). This was CRA+federal reserve and theres just no way around it. His credientials as a tax lawyer say nothing about his credibility as an economists. Sh*t most economists credentials as economists say nothing about their credibility as an economist--why do you think we are in this mess!

Members of the Austrian school of economics have been screaming about this crash for the last 30+ years!

Congress should repossess Bernake and Paulson's houses.

They should repossess the house(s) of every CEO and loan shark involved in this crisis.

I'll bet you my share of the national debt that Bush's orders to Bernake are "do anything you can to keep the Dow Jones stable until after the election."

Tags for this video have been changed from 'inflation, ron, paul, bernake, fed' to 'inflation, ron paul, bernake, fed' - edited by Grimm