[Rushtalk] A must-read

Carl Spitzer cwsiv at keepandbeararms.com
Tue Nov 5 12:27:50 MST 2013


On Tue, 2013-10-22 at 11:36 -0400, Frosty wrote:

> At 10:31 PM 10/21/2013 -0700, Tom Matiska wrote:
> 
> > Perhaps the most bass ackward ignorant piece that can be written.
> > The debt itself is a problem. $7.5T of short term debt is due this
> > year.  Add the $700B estimated deficit(call it a trillion) and we
> > need to float another $8.5T+++ in new debt this year.  No one will
> > lend us a small fraction of that. The Fed will "print" it.  A modest
> > downgrade of our credit rating that causes us to refi at higher
> > interest can be budget train wreck.
> > 
> > We took in $2.7T in taxes this year, spent near $3.7, and are in
> > debt $18T.    Unlike his mortgage analogy, a family making $27K,
> > spending $37K, that puts their $180K mortgage on the credit card
> > does have a problem. ....Tom
> 
> 
> The government LOVES it when you say "we" took in, and "we" have $X
> debt and "we" owe...
> They will attempt to get "us" to pay back what THEY borrowed.
> This "we" ain't gonna pay. You do as you like.


To which their response will be threats to make the dollar untradable.
Well Ron Paul proposed a mixed commodities currency not just specie to
replace the Federal Reserve Accounting Unit Devices and he was called
nuts for it.  Well the time has come when Lincolns irredeemable script,
no silver to back it even then, must as Voltaire warned achieve its
intrinsic value as toilet paper.

CWSIV
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