Banks don’t care.

[gutteck]

The FED cut interest rates yet again. Those private bankers could not care less about our country. We don’t need more inflation we need real solutions.

For example as you know now days 100% of the income tax goes to pay the national debt every year. The income tax of the whole nation pays only the INTEREST on the debt the country owes to this private bank.

If those nice bankers cared about our country they would give the country a break and allow the government 2 or 3 years of not using the income tax to pay the national debt and instead use it to create Jobs.

Don’t let them fool you with their “efforts” to improve our economy. They are sinking the country in more debt and inflation. For what purpose? Nothing that benefits us that is for sure.

[Kludge]

I applaud banks for their "selfish" virtues. Just like Dr. Paul (keeping donation from Stormfront member), banks are a friend of convenience.

Banks deserve no blame for taking money offered to them, it's all the fault of our "democratically elected congressmen".

[gutteck]

I applaud banks for their "selfish" virtues. Just like Dr. Paul (keeping donation from Stormfront member), banks are a friend of convenience.

Banks deserve no blame for taking money offered to them, it's all the fault of our "democratically elected congressmen".

Money is offered to the banks the same we are offered the choice to pay taxes or not.

And you are right to a certain extent. Individuals have the government to force them to pay their debts and their taxes. However the government has nuclear bombs, army, navy, air force, national guards, etc. Who can force the government to pay their debt?

As I see it the government and the banks are one and the same. The people only provide the blood to feed them.

[Malakai0]

The FED cut interest rates yet again. Those private bankers could not care less about our country. We don’t need more inflation we need real solutions.

For example as you know now days 100% of the income tax goes to pay the national debt every year. The income tax of the whole nation pays only the INTEREST on the debt the country owes to this private bank.

That's actually not true. Roughly 1.2 trillion was brought in, iirc around 400 billion went to interest on it.

Just wait till interest rates turn up (assuming the economy doesn't totally collapse before that happens), then you will see some big problems with paying the interest.

[gutteck]

That's actually not true. Roughly 1.2 trillion was brought in, iirc around 400 billion went to interest on it.

Source?

[AaronC]

unless i am mistaken banks tend to hold a relatively smalll percent of the national debt. i am mobile so it is difficult for me to site sources, but if i recall correctly the chineese gov is the single biggest holder of t-bills.
as far as accountability for paying the debt, the fed has the power to credit accounts as it sees fit. if they desired the entire debt could be credited out.

the reason we take on debt (and don't create the credits to simply pay it off) is that it would cause excessive inflation. ( as well as other market problems)

the interest offered is intended to be an incentive. oddly if the interest rates continue to remain this low, and oil continues to soar there will be little incentive to purchase t-bills.

hope this helps.

[gutteck]

unless i am mistaken banks tend to hold a relatively smalll percent of the national debt. i am mobile so it is difficult for me to site sources, but if i recall correctly the chineese gov is the single biggest holder of t-bills.
as far as accountability for paying the debt, the fed has the power to credit accounts as it sees fit. if they desired the entire debt could be credited out.

the reason we take on debt (and don't create the credits to simply pay it off) is that it would cause excessive inflation. ( as well as other market problems)

the interest offered is intended to be an incentive. oddly if the interest rates continue to remain this low, and oil continues to soar there will be little incentive to purchase t-bills.

hope this helps.


For other countries – like China, to buy our debt the FED needs to create it first. So essentially the FED prints money out of thin air and lends it to the country at interest and then other “banks” not countries but private banks like the bank of china buy the bad debt becoming owner of a little piece of America.

And by the way they buy our debt with money they create out of Chinese thin air so it is just a big scam to steal our wealth hidden behind economics mumble jumble.

[JTM]

at some point i just want to take out my tin foil hat and buy more guns.

[Cleaner44]

That's actually not true. Roughly 1.2 trillion was brought in, iirc around 400 billion went to interest on it.

Just wait till interest rates turn up (assuming the economy doesn't totally collapse before that happens), then you will see some big problems with paying the interest.

It was true in the early 1980s. It may not be today. The Grace Commission found this out and reported it to Reagan in 1984.

[pinkmandy]

I read that just under 3 trillion is foreign owed in this year's deficit. 2.8 if I recall correctly. Read that on the grandfather report the other day.

[HOLLYWOOD]

You should post this thread in the: Economics & Sound Money forum

Yeah, the Fed, The Bank of England, etc are controlling ALL money flow and valuation.

Latest 'Back Room Deal' are for the other "Financial Nations" to stabilize the US dollar for US. Because the US government is afraid of Financial Collapse by the People revolting and shutting down the Economy will spread to worldwide Anarchy.

How pathetic is that?

[AaronC]

For other countries – like China, to buy our debt the FED needs to create it first. So essentially the FED prints money out of thin air and lends it to the country at interest and then other “banks” not countries but private banks like the bank of china buy the bad debt becoming owner of a little piece of America.

And by the way they buy our debt with money they create out of Chinese thin air so it is just a big scam to steal our wealth hidden behind economics mumble jumble.

the Chinese government doesn't buy bad debt that we lend to other countries... what happens is a lot less cynical. Ok, lets say you're a Chinese toy company that uses led paint.. ok no, bad example... Lets say you're a Chinese company in good standing selling widgets to the US. If you don't want to purchase a US good, service or capital with the money you earned in the states you have to do something with it. Usually the company doesn't put a stack of $100 bills in a vault, instead they take it to the bank and get yuan for it.
The bank then has a stack of bills (or really just a credit in an account, actual bills don't really circulate much). which they can't trade for Yuan with US banks simply because they don't import enough to do that. What is supposed to happen is that the yuan gains value as they demand more and more of their currency back, but China happens to be a weird example because they want to protect the low value of their currency so it doesn't fluctuate on the open market freely. (they let it adjust some, but they still peg their currency to the dollar). So they are stuck with a bunch of credit for our currency. They purchase T-bills with this balance.

That was a longer winded than i expected, but it seemed like the best way to explain it ;)

[Carehn]

That was a longer winded than i expected, but it seemed like the best way to explain it ;)

Some one needed to get long winded on the subject