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Audit the Fed! S. 202!
We’re going to have to wait untill after the REP. Convention.
The Senate is out untill Sept. 1st. The RNC is August whatever.
Who gives one F**K? Romney will be just as bad.
I agree Christopher!
Hi John M,
I will say that in terms of effectiveness you could be correct. However, I do believe that each has a different agenda.
Audit the FED!!! Support S. 202!!
Social Security similar to the recently passed Obama Care was sold to the public as insurance but in order to be determined constitutional was determined by the Supreme Court to be a tax.
Al, your contributions were taxes. The tax was paid and spent. Those mailings you once received in the mail defining your benefits were mail fraud.
Al, you made an investment but your generation also watched the company squander the funds as if they drilled a bunch of dry holes. There is no money in the till.
You may think you made an investment…if so you invested in a bankrupt entity.
Anything an investor receives back form a bankrupt entity is a windfall.
The reason the government can keep promised SS payments of the books is it is an
expectancy. This puts the government in the macabre situation of benefitting ( in the budgetary sense) the quicker elderly and baby boomers die.
Now that might be a concern to ponder when evaluating Obamacare.
HI Dennis M,
I, of course, agree completely.
The money is not there, at least not real money.
I realize that in truth ssi is not an investment, but I, until recently, viewed it as an investment on my part with a return.
More fun, huh Dennis B!
Big Al, I am curious. The USA is not in fact bankrupt. How can we discuss serious economic and political issues starting from a misstatement or exaggeration like that? I wonder whether it would be more helpful if Dennis could express his concerns in a factual and objective way so we can discuss the issues? JMHO.
When an entity is bankrupt, it’s finances are taken over by trustees and the assets are liquidated and the judge pays them out according to a plan of priority. That’s not what is going on in the USA. It is something more complicated and less open. I hope that I answered your ???. Thanks.
bankruptcy….7,11,or 13… ..I think what Al, was mentioning , was the inability to pay your bills,,,,WHEN YOU OWE more than you take in, and not paying your bills
….and have no intention on paying your bills…. You do not have to show up in court,to be bankrupt….the court is for the convenience of both parties….the chaser and the chased….
Although the USA has not filed, it is just technically BR…
And, I believe, has been for quite some time now, In the Box!
I’m not following you. Has anybody not been paid by the US Gov’t? Just because we do not like current policy and are alarmed about future POSSIBILITIES does not mean that the USA is yet bankrupt.
I believe that our balance sheet indicates that we are technically bankrupt.
pietre……it is like an unlimited credit card….that you make only minimum payments
paying intrest only…..eventually the interest gets so high , you default…
you need to check out the GDP….when the amount of money the usa need to borrow
mre than the amount you produce….you have a short fall,,,,when you have a shortfall…you are short of money….(tax revenue or ability to borrow)…then you have to BR……we are BR……the amount of debt the us owe, will take over a 200 plus years to pay back..
if the usa…did not have a printing press….they would be short of cash…..
but, since they print money,,,that is inflationary, and the dollar is worth only 7 cents today , compared to $1.00 in 1913, before the fed….and printing started…..
if you can print money….which is worth less….what you by is costing you more….
your standard of living is going down….and has since 1959…..
If you want to talk about the govt. not paying its bills, how about the short fall in the
ssi….deposit box….which is empty…..the joke will be on the one’s who have not been
paid and thinking they will be receive more in the future……which will not be there,
in it’s present value, but, will not go as far….because of inflation or the printing of money…..(sorry for all the topos.. thanks for the follow up…..and contribution….
there are some great articals…concerning the issue which we touched upon…..
sorry for any confusion
Again, obviously we all agree the situation is out of control. I’m saying that to figure out the practical solution it is important not to say things that are factually untrue, such as: The US Gov”t is not paying its bills AKA bankrupt. Also I wonder why the interview guy is so contemptuous of Obama personally? I mean we need to change policy.
Good Evening, Big AL.
I don’t believe that a balance sheet determines when an entity is bankrupt. It has to do with income and payment or failure to pay. Maybe Dennis can help us out or one of the other Attorney’s here. The balance sheet doesn’t make a company or a government bankrupt. What would the test be? More liabilities than assets? No. Anyone care to chip in here? Thanks.
Unless I am mistaken, bankruptcy is a condition that exists when Liabilities are so much greater than assets that there is no chance that the liabilities will ever be repaid.
Now, I grant you that the liabilities theoretically can be repaid if you simply print the money to repay them. Kind of a double-speak don’t you think?
What the church (black, white, or otrehwise) wants to do within their own confines is fine with me. Where we have a problem is when these people push their prejudices onto the public. Don’t like gay civil marriage, then don’t have one, but the church has no right (separation of church & state) to deny gay people the same civil (yes, civil, because these are the rights of the citizenry) rights that they themselves enjoy. Not all citizens are christians or members of any religion, so religion needs to stay in the churches. Let the co-called religious run their own lives and leave the rest of us alone. Let he who is without sin throw the first stone. Judge not lest ye shall be judged. Christians seems to have forgotten those parts of the bible. I am NOT a christian and I do not want to live under a christian dictatorship any more than christians want to live under a muslim religious one.
Yes, “Let he who is without sin throw the first stone”.
Too many people don’t live by that wisdom.
for those paying attention
off the books – was the correct version for the above
In find Dennis’ typo correction of the day.
Greetings Dennis M. Can you help us out with the definition of bankruptcy. My understanding is it happens after a creditor has not been paid and there is a default or when there is refusal to pay. Of course that could happen in the future with the US but it has not happened as of yet. Good luck to you.
Jeff is correct, when he says “they are the ones who are lost” and “Ron Paul people will know what to do”
Great interview, AL.
Many thanks, Bobby!
Al, be assured. It will continue until you can never get back.
If I was American I would vote my conscience. Let all those (so many) with no conscience vote for the other guys. Your vote is wasted if you vote for the mainstream guys. They will both bring disaster but in slightly different ways, different nuances but they offer no future.
I know that a lot of folks don’t agree with that statement Silverbug Dave, but I do.
Thanks big Al.
Another thought: by the time most people actually decide that they want to vote their conscience, they probably won’t be able to vote.
Man, Silverbug Dave, I hope you are wrong!
Once again I agree with the Word, and you are correct we have becmoe so accepting of everything that we don’t even realize we are condoning sin and I am not only singling out homosexuality, people now have a blinded eye to everything, adultery, fornication, gambling, stealing, etc. Everything goes now, morals and decency is a thing of the past. We all have to wake up and get on one accord with God and stop trying to find comfort and understanding in man’s word but look to the Bible.
You are correct, Dhea,
More people need to look to their spiritual books.
3:40 – “…the Fed buys up 50% of all debt, and if you believe Bill Gross of Pimco …it’s well above that…”
I do believe, and agree with, Bill Gross of Pimco. Clay and I have mentioned this…70% of Treasuries were being re-purchased as far back as Feb-Mar. It’s sure a good thing the US isn’t in a Euro-like zone, or we’d be toast already. The only reason this hasn’t crashed yet is there’s so many people who don’t want the party to end — the irrational exhuberance effect, except in this case, it’s irrational ignorance.
Irrational ignorance is a great way to put it, John W!
John: Yes, what you have said is true. Ron Hera and many others are pointing out these facts in last several months. Fact is, the economy of the US is mostly government and in every single example through history where a countries economy becomes mostly government, it fails. In order for a prosperous and healthy nation to grow, most of its economy must come from private sector not government.
It is not a coincidence that 1 in 6.5 Americans receive food stamps, total unemployment is well into double digit, debts and promises to pay by government in the US can never be payed or honored. Corruption and crimes being committed by both officials and friends in high offices of the government is increasing rapidly. Jobs continue to leave the US while the number of poor and homeless are rising to levels not seen from the last depression.
War will not get the government out of this situation, neither will political elections because both cases are chicken and egg paradoxes. The only thing holding humpty dumpty United States together is confidence, and with the current set of government leaders confidence is fading fast.
I hate to say it, but the only way out of this mess is for the United States to fail completely. This means going totally bankrupt, initiating and then loosing World War Three and finally a total loss of control by governing authorities in the US over the people, and the sad irony is, the way this country is going, that is exactly what will happen.
Confidence is the glue that holds a nation together. When that glue weakens it is not long before a nation comes apart. I think everyone on this page are witnessing the loss of confidence expand. But we do have heroes like Congressman Ron Paul, and I will write in Ron Paul in November regardless. Neither Obama nor Romney can win because even if one or the other does win, they can’t win by winning, they can only win by loosing.
Hi Clay, entropy works, even at absolute zero. As Ron Paul would have it, just End the Fed would do it, just fine in ending all the debt so far, to date. Why go to hell, just pass through it to the other side. The Fed is a Ponzi Scheme, Who owns the Fed? The Rothschilds of London and Berlin; Lazard Brothers of Paris; Israel Moses Seif of Italy; Kuhn, Loeb and Warburg of Germany; and the Lehman Brothers, Goldman, Sachs and the Rockefeller families of New York. Did you know that the FED is the only for-profit corporation in America that is exempt from both federal and state taxes? The FED takes in about one trillion dollars per year tax free! The banking families listed above get all that money…. Just take out the FED, it should be painless and easy, alot more reasonable than the world being hung out to dry in world war III don`t you think? My, using a hammer to get rid of a headache is a bit silly.
Dennis: I completely agree with you and find it amazing how people continue. I suppose the vast majority would take the blue pill and the few that do take the red pill most of them would opt out to go back to the blue pill. Age old war, even before people, between good and evil. Perhaps that is why so few get to heaven, because most find it pleasing to receive instant satisfaction while accepting eventual eternal damnation.
We know the Fed, its head and all the tentacles will eventually be destroyed, but when and how? I truly do not know, but like you suggest the more who know what you know the less likely it will take a hammer to change things.
Nevertheless, giant oaks grow from a single acorn, and the more acorns we plant the more shadows we can eventually cast on the deeds of the Fed.
On the subject of throwing away votes….
I think Deist is right-on. (We gotta get this guy to run for office so he has a chance for President in a decade or so…as Paul’s CoS, he’s already 10x smarter than Obama or Romney…I digress).
In the past I’ve commented a couple of times how Canadians changed their financial destiny in 1993 by ‘throwing away votes’ for the Reform Party (which I voted for, to the chagrin of several Conservative Party supporters). They didn’t win. But the Liberal government recognized the shift, and started balancing what was then a horrendous budget deficit. In 1993, 35% of tax rev’s went to fund the interest on Canada’s debt. By 1999, budgets were being balanced both Federally and Provincially. Canada has always had stronger collectivist “let the government do it” attitudes, and through that, more liberal attitudes, but the shift in support to the right-leaning Reform party made a real difference. The current Prime Minister today, Harper, wouldn’t be where he was without that movement which started in 1993.
So is writing-in Paul a throw away? As Deist note, in many states, no. It can’t be. If enough people do it, it WILL get the attention of both parties. And yet, I agree with Karen and many of you who are just galvanized against Obama for another term. He’s wearing out his pen set signing Executive Orders. I’m just not so sure Romney is going to be better. Every election, in every country, always comes do to this, it seems. The incumbent is so awful, that the challenging candidate need say nothing at all during his campaign, knowing that he’ll receive more votes for not publicizing his stance. The new candidate gets elected, and we just get more of the same. I say let’s wait a little more and see what the polls and running mates are going to look like. To make a lasting difference in future decades, it may be necessary to write in a vote, no matter how hard that is to accept prior to the election. Yet I can understand why many won’t agree with that.
great comment ….John….concerning the “get the attention” …..the only way things are going to change is by another party…..not the old …TWO HEADED SNAKE…
the DEM. AND REP….they are the same…ran by the same old people…..
Afternoon John W.
It is now suspected to be over 81% of purchases according to a past article posted over at ZEROHEDGE. They showed several past treasury auction participation charts showing “who” or as they said, “what” was buying all the treasuries, and based on some good forensic accounting, they showed that for the past three months, the FED has been doing anywhere between 64% of purchases at some auctions, to as much as 81% at other auctions.
As far as a crash goes…I don’t know if it will happen, but i sure want to be prepared in the event it does.
Next weeks theatrical release – MARKET DOWNTURN – staring the ever popular “Screamin” Jim Cramer, Bob “The Dufus” Pisonti, Maria “Fake Eyelashes” Bartarromo, and all the other moronic mouthpieces for the Wall Street ideologist! Coming to a retirement account near you!
Oh, I could absolutely believe some auctions hit 81%. What would happen if an auction were held and nobody came? We already know. Candidly, I’m surprised this has continued this long. Everyone knows what the Fed is doing. No one cares. So long as the Treasury gets their money, it doesn’t matter how. That leads me to wonder (yet again) why we’re still running $1 trillion+ deficits each year, and why the Treasury needs all that money. There must be some major dark ops funding going on. Even putting Afghan/Iraq war spending back on the balance sheets, we should “only” be running $550 billion deficits each year…where’s the other $700 billion per year going?
Ooops, hang-on. Some guys in dark suits are at the door….
I can agree with the church on this one. Homosexuality is not naurtal in human beings. It simply is INCORRECT!! Heterosexuality is the norm and always will be the norm. I support gay rights in certain circumstances but I do not support homosexuality when it is concerning church, children and/or same-gender being forced to expose themselves. I think society should continue teaching the correct way, period.
ORomney vs Rombama, eh?
Makes no nevermind….
Both of these parties are corrupt and immoral.
They both will take us to national bankruptcy and to Hell, just with different routes and timetables.
But make not mistake, the train’s destination is the same.
IF THE TRAIN IS LEAVING AND GOING OVER THE CLIFF,,,I would recommend,
taking another train…..Union Station has several tracks…..
I do not understand why anyone would waste their time blaming the President for the mess the people are in.
The House of Representatives approves the money spent on the idiotic ideas, and the Senate approves them. The Office of the President is only there to carry them out.
Al, just take the bull by the horns and run in your district. Anything else sounds like a teenager whining about being broke.
Well, get a job!
Hi Al, Ron Paul has an item on his agenda that he feels is well worth it, namely `A national poll asking, “Who would you vote for in November, Paul or Obama?“ can be conducted by a reputable pollster for $2500. I believe we need three polls commissioned with poll results on August 10, August 17 and August 24. Three national polls foe a total of $7500. 31 July Update: 2: 30 PDT We have funded the first poll ! ! We have $2800 in PayPa “ …`Romney is losing to Obama in the polls as reported by RealClearPolitics.com Romney is losing 57 to 41 in the Intrade Prediction Market. He is losing in the electoral count 220 to 180. Romney can`t beat Obama so why do the GOP want to nominate a sure loser at Tampa ? They don`t, and maybe they won`t since they have a choice. But the Tampa Delegates need to know Paul can beat Obama…“ THIS IS AN EXCERPT from http://www.dailypaul.com/245437/paul-vs-obama-poll?utm_source=twitterfeed&utm_med… on tue, 07/31/2012 – 16:23 So you see Ron Paul is going all the way to get that nomination at Tampa, because its a fact that Obama and the powers that be know its pay back time for the enemies of all righteousness and there is a line in the sand called the Blood of Jesus has been shed for the victor of this election, his name is Ron Paul acting for His master and saviour Jesus the Christ, King of Kings, and Lord of Lords Almighty God. Obama and the Banksters fear Ron Paul`s message `End the FED` . FRAUD that is known has been done by a Private Entity calling itself a `Federal System` which it is not, it is in fact `private individuals` proporting themselves to be one, this is FRAUD. By definition claim to be something that you are not is a falsehood or lie. That is why Ron Paul wants to end the FED, to cancel debts that were taken by CROOKS, and then were passed off to be by a representative of the Federal government when in fact were just hoods, bank robbers, and then took money from the taxpayers then in turn returned it(money) back as interest on money they themselves weren`t even party to, this is fraud. I understand that when you are taken in a swindle that you don`t need to pay them, they that swindled you have to be punished, fined, jailed, (be the bell of the ball, your dance card is filled), and the money they slole from you is returned!!!
thanks for the input…..DB
BTW…….”CRUZ WINS IN TEXAS…..TEA PARTY CANIDATE…..
all you folks that think we only have two choices need to pay attention….
the ” FAT LADY” has not sung yet….. .