US, the sinking Ship | Bitcointalksearch.org

Spendulus

legendary

Activity: 2926

Merit: 1386

Quote from: manfred on June 01, 2013, 05:00:47 PM

Quote from: wormbog on May 30, 2013, 04:07:57 PM

Think about this: if the Fed can print money at will, why does it matter how much debt we're in?

In the Weimar Republic a guy drives a wheelbarrow full of money into a Bakery. The staff told him they don't want the money, but he can give him some Bread for the empty wheelbarrow. So he dips the money into the street gutter around the corner and takes the the empty wheelbarrow back in to get some Bread.
More heat was produced to burn the money instead of buying wood with it.
Towards the end of it new money was not printed, instead additional zeros where stamped onto existing notes.

Bitcoin is a good Hedge

But wood is better for barbecuing than burning dollars.

manfred

legendary

Activity: 966

Merit: 1001

Energy is Wealth

Quote from: wormbog on May 30, 2013, 04:07:57 PM

Think about this: if the Fed can print money at will, why does it matter how much debt we're in?

In the Weimar Republic a guy drives a wheelbarrow full of money into a Bakery. The staff told him they don't want the money, but he can give him some Bread for the empty wheelbarrow. So he dips the money into the street gutter around the corner and takes the the empty wheelbarrow back in to get some Bread.
More heat was produced to burn the money instead of buying wood with it.
Towards the end of it new money was not printed, instead additional zeros where stamped onto existing notes.

Bitcoin is a good Hedge

Biomech

legendary

Activity: 1372

Merit: 1022

Anarchy is not chaos.

Quote from: wormbog on May 30, 2013, 04:07:57 PM

Things were much worse during the Great Depression, and we recovered from that.

Think about this: if the Fed can print money at will, why does it matter how much debt we're in?

Well, Keynes was wrong about everything else, too, except that in the long run we're all dead.

countryfree

legendary

Activity: 3066

Merit: 1047

Your country may be your worst enemy

Greece, Spain, Italy, Portugal, France, Congo, Sudan, Yemen, Zimbabwe... That's only to name a few. You should check the international news. There are many sinking ships in the world, today.

Jobe7

full member

Activity: 238

Merit: 100

Now they are thinking what to do with me

Quote from: wormbog on May 30, 2013, 04:07:57 PM

Things were much worse during the Great Depression, and we recovered from that.

Think about this: if the Fed can print money at will, why does it matter how much debt we're in?

Must assume you're being sarcastic. Or that you don't know what inflation is (or understand it in detail).

nviere

full member

Activity: 168

Merit: 100

Quote from: wormbog on May 30, 2013, 04:07:57 PM

Things were much worse during the Great Depression, and we recovered from that.

Think about this: if the Fed can print money at will, why does it matter how much debt we're in?

First part is true, the second is not

manfred

legendary

Activity: 966

Merit: 1001

Energy is Wealth

It does not matter what color he is or political party he belongs to. He is just a puppet which is put there by the system and moves as told by the system. If he wants to free himself from the strings which dictate his actions he would no longer be the "President".
Ron Paul would be no different.

No 1

full member

Activity: 140

Merit: 100

Ad Infinitum Et Ultra

Quote from: Elwar on May 31, 2013, 06:33:16 PM

Quote from: No 1 on May 31, 2013, 06:22:31 PM

Great, lets all blame the black guy..

What is a "black guy"?

The first human ever.

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

Quote from: No 1 on May 31, 2013, 06:22:31 PM

Great, lets all blame the black guy..

What is a "black guy"?

No 1

full member

Activity: 140

Merit: 100

Ad Infinitum Et Ultra

Great, lets all blame the black guy..

Mike Christ

legendary

Activity: 1078

Merit: 1003

http://www.youtube.com/watch?v=gQourq7M8R0

Dictators and Democracies...

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

Quote from: Spendulus on May 30, 2013, 07:59:22 PM

You are saying that if some other guy had been elected, he would own the financial problem.

But that does not negate the fact that Obama currently owns it.

That is certainly true. Obama is opening the wound wider.

At this point, I believe that is about the best thing we can hope for the US. The quicker the better.

Spendulus

legendary

Activity: 2926

Merit: 1386

Quote from: Elwar on May 30, 2013, 07:03:40 PM

Quote from: Spendulus on May 30, 2013, 06:51:39 PM

No, that is doublespeak triplelie quadsmear pentafucked.

Obama at the point owns the financial problem, mainly by virtue of ignoring it.

There have been no candidates in the general election in the past decade that would have done anything about it.

Even if Rand Paul were elected in 2016, I believe it is too late.

You are saying that if some other guy had been elected, he would own the financial problem.

But that does not negate the fact that Obama currently owns it.

myrkul

hero member

Activity: 532

Merit: 500

FIAT LIBERTAS RVAT CAELVM

Quote from: FinShaggy on May 30, 2013, 07:46:36 PM

Quote from: myrkul on May 30, 2013, 07:44:56 PM

The President is far from a King, anyway... very little of the budget can actually be laid at his feet.

I wouldn't say "far" from a king...
http://www.youtube.com/watch?v=9oYKMJkatzI

I'd try to explain the difference between being distantly related to a King, and actually having the powers and authority of a King, but I'm relatively sure it would be a waste of time. So I'll make it simple, and just modify my original statement thus:

The President is far from a dictator, anyway... very little of the budget can actually be laid at his feet.

FinShaggy

full member

Activity: 196

Merit: 100

Google/YouTube

Quote from: myrkul on May 30, 2013, 07:44:56 PM

The President is far from a King, anyway... very little of the budget can actually be laid at his feet.

I wouldn't say "far" from a king...
http://www.youtube.com/watch?v=9oYKMJkatzI

myrkul

hero member

Activity: 532

Merit: 500

FIAT LIBERTAS RVAT CAELVM

The President is far from a King, anyway... very little of the budget can actually be laid at his feet.

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

Quote from: Spendulus on May 30, 2013, 06:51:39 PM

No, that is doublespeak triplelie quadsmear pentafucked.

Obama at the point owns the financial problem, mainly by virtue of ignoring it.

There have been no candidates in the general election in the past decade that would have done anything about it.

Even if Rand Paul were elected in 2016, I believe it is too late.

Spendulus

legendary

Activity: 2926

Merit: 1386

Quote from: Elwar on May 30, 2013, 04:15:55 PM

By no means is the trouble we are in due to Obama. It was well on its way before Obama was even elected (the financial crisis happening toward the end of Bush's second term).

I do agree though....

No, that is doublespeak triplelie quadsmear pentafucked.

Obama at the point owns the financial problem, mainly by virtue of ignoring it.

FinShaggy

full member

Activity: 196

Merit: 100

Google/YouTube

I agree that the UNION is a sinking ship, but the south is strong

Time to salvage what we can and make our own boat.
THE SOUTH WILL RISE AGAIN!!!! (lol)

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

By no means is the trouble we are in due to Obama. It was well on its way before Obama was even elected (the financial crisis happening toward the end of Bush's second term).

I do agree though, combining the following:
The unfunded liabilities of the state health insurance system amount to more than $ 38 trillion for the next 75 years.
The state pension system has a funding gap of USD 134 trillion over the next 75 years.
The national debt being $16.7 trillion.

That means that of the 143 million people in the US that pay taxes each year, they are on the hook for over $1.3 million to the government during their lifetime. Just for those 3 alone, not including yearly budgets. That is an average of $28k per year for every working American for their whole working life, not including the taxes to pay that year's budget.

A country such as Costa Rica, however, has a balanced budget law which does not allow them to have any debt. So their citizens are only on the hook for the budget they pass that particular year.

The best the US can hope to do is make the current dollar worth about .001 cents in today's value. That is the only thing that can save them. That is why I can see $10k/BTC in a few years.

Topic: US, the sinking Ship (Read 1342 times)