Home Messages Index
[Date Prev][Date Next][Thread Prev][Thread Next]
Author IndexDate IndexThread Index

Re: debt

Tim Smith wrote:
In article <2791963.Ss1ggUqeIi@xxxxxxxxxxxxxxx>,
 Roy Schestowitz <newsgroups@xxxxxxxxxxxxxxx> wrote:
____/ Homer on Friday 15 May 2009 23:54 : \____
   Debt is what makes the modern American economy go ...
... down the toilet.

Yes, there's nothing quite like millions of bubble-headed Yanks spending
other people's money with wild abandon, to cause a global recession, and
bring world progress to a screeching halt.

Are we expected to thank America for this gift of fanatical materialism,
or is Hamilton's dissertation meant to serve as a belated warning?

As astroturfing goes, Smith, this is pretty lame, even for you.
He's pro-greed.

You two are amazing. Is there any subject either of you actually knows anything about?

Debt has been at the core of most industrial and business activity in the UK, just like the US, for hundreds of years--just as it has in pretty much all of the developed world.

It would be hard to find any material thing in your lives that didn't have its construction or manufacture financed by debt.

Well, first you have to understand debt. Ever since 1913, the Federal Reserve Act, this has created a debt based monetary system. That means if you borrow money you have to pay interest. Very few have looked into the past history of this country to realize that our fore fathers have not paid any interests on their loans. This country, originally, was run from imposts, duties and tariffs with no income tax to pay off the interests to the private Federal Reserve. If anyone thinks it is federal and part of the federal government,
they then should ask if Federal Express is part of the government.

"It is impossible to defeat an ignorant man in argument."
William G. McAdoo.
American Government official (1863-1941).

  • References:
[Date Prev][Date Next][Thread Prev][Thread Next]
Author IndexDate IndexThread Index