The miracle drug

pop quiz...do you actually know how much of our debt is owned by china?

double post srry

now and not in the future?

out of the 4.5 trillion owned foreign debt , China owns about a third

http://www.treasury.gov/resource-center/data-chart-center/tic/Documents/mfh.txt

honestly surprised u actually got that right and didn't just blurt out some absurd number like some ppl who i've heard say "china owns 2/3 of americas debt" when they own roughly 8-13 depending on the source n time n blah. the whole notion which this video has at the end bout us going in debt trillions more or even a substantial amount to china is ridiculous. Its doubtful any single country will ever own more then 20% of americas debt.

It's totally ridiculous to think that the USA is going to go further in debt...

hahaha ok

We r going to get more in debt, but china will never own a large amount. It will always own a fraction of the debt held by the public.

america in infallible! fuck all who say otherwise! U S A U S A!

thank you for showing how the con game works and why it must be kept going forward on blind faith and confidence

thought this was gonna be about mdma

not bad

On July 26 2011 15:40 palak wrote: We r going to get more in debt, but china will never own a large amount. It will always own a fraction of the debt held by the public.

r u obama?

No its just common sense...china would need to purchase the next
7 trillian or so in US debt for them to start approaching public levels. It boggles me that this debt ceiling is even an issue. Every article written by an economist ive read say the debt ceiling needs to be raised. I have yet to even hear of an economist saying the US should default. Yet over 50% of americans according to most polls would rather have the US default then raise the debt ceiling. So many ppl who have only recently even heard of the debt ceiling r now thinking they know more about the world economy then ppl who study economics for a living. Its also a fake issue that ppl dont really care about, otherwise where was all this debt ceiling panic the last 30 yrs where we raised the ceiling 32 times. Sure the US needs to curtail spending and increase revenues. But the idea of just saying fuck it and defaulting on the debt is insane.

I think the ceiling was raised 5 times under the bush years... Funny how republicans look like dogmatic, opportunistic liars to the whole planet except for 50% of americans.

^7 times under bush jr, 5 times under bush sr, 17 times under reagan.

Also worth mentioning that reagan raised taxes during a bad recession and the economy improved immediately afterwords.

On July 26 2011 17:41 palak wrote: Its also a fake issue that ppl dont really care about, otherwise where was all this debt ceiling panic the last 30 yrs where we raised the ceiling 32 times.

The economic well-being of the country should be the most important issue in government, not the gay rights / abortion media circus we get every election cycle. The debate over the debt ceiling is just a proxy for the budget in general, and the American people are finally getting fed up with the endless wars and wasteful spending that are eroding our way of life and fucking up the world to line the pockets of the rich and powerful.

Also worth mentioning that Obama voted against raising the debt ceiling when Bush was in office

On July 26 2011 18:26 ShadowDrgn wrote: Show nested quote + On July 26 2011 17:41 palak wrote: Its also a fake issue that ppl dont really care about, otherwise where was all this debt ceiling panic the last 30 yrs where we raised the ceiling 32 times. The debate over the debt ceiling is just a proxy for the budget in general, and the American people are finally getting fed up with the endless wars and wasteful spending that are eroding our way of life and fucking up the world to line the pockets of the rich and powerful.

I agree w/ that. But the key is that default on the loans isn't going to fix anything, it'll just make things worse. The budget has issues and there are some cuts that need to be made but never will (at least $250 bil from the military for example). The talk of saying "don't raise the debt ceiling" is completely misguided.

On July 26 2011 18:31 blackjacki2 wrote: Also worth mentioning that Obama voted against raising the debt ceiling when Bush was in office

Yes he did, once in 06. When asked about it though he admitted that it was nothing more then a political move since he knew the bill would pass anyway. So that's coming back to bite him in the ass, but imo its pretty good of him that instead of making some excuse like (now is different then back then) he just admitted he was playing politics in the first place.

Thank you guys for also proving that the left/right paradigm is a myth & showing that both sides of the establishment look to bury this country further into the serfdom debt hole as the establishment has no principles that it holds on to because it is aiming to create and obtain control of a "global world financial market" or "world economy".

With the debt ceiling (which isn't what the original video was only about btw) the left/right have just been doing theater to try and make the majority fall in line under fear; nothing more.

-Eliminate bush tax cuts on the wealthiest americans

-Take USA military out of Afganistan on schedule or sooner. Then cut it hard after we're out of all wars, its very technologically advanced and we have no real enemies that we're likely to fight in a conventional war. Anyone big enough to require our military to stay the same size has nuclear weapons and our conventional forces are not likely to be useful during a real nuclear war.

-End War on Drugs, instead tax them. Any addictive drugs cannot be advertised and will be legal but socially non-acceptable (like tobacco). Anyone who sells the addictive/harmful drugs must set aside a portion of their profits to run the rehab centers for users that get hooked, like how casinos must pay for gambling addiction centers.

-Obv legalize online poker

Pretty sure that gets us back to even and we didn't even have to rob old people of their social security.

yo just a heads up it is truly an unknown how much debt china owns, tho its certainly not like 1/2 or more. they bought a looooooot of debt thru indirect means / a loophole of the mechanism that is meant to prevent any one buyer (china in this case..) from buying more than a certain amount each auction... not sure on details beyond that (ie how much they might of been able to scoop up through indirect purchases of debt).

idk where I read this, might of been on a link in LP for all I know, was a legit article..

^source?...b/c I can give dozens of sources w/ exact number of what china owns and they all fall within the same 1.3trill-800bil range

Well played.
And Palak who the fuck cares who owns US debt? :O

if the public doesn't own it, and other countries do, they dont want us to default. they want us to pay the debt back.

i really dont like republicans right now. if they dont negotiate and we default, i wont get student loans. they get a little bit handed to them, they want more. fucking political shit affecting my livelihood.

And Palak who the fuck cares who owns US debt? :O

just matters who doesn't get paid and how much it effects other countries. Mostly its just an issue b/c so many ppl r just completely clueles about who actually owns the debt and thinks china is just going to buyout the US.

I was totally hoping on finding some miracle drug in this thread >_<

that you have to obtain government subsidies in order to go to school within a free society is a real shame because you definitely need your education as it seems the point in the op video was entirely missed

here... this will hopefully help

I would suggest fact checking youtube videos. He didnt list any defaults. All we did in 34, 68, 71 was say thay u could no longer recieve precious metals for certificates but instead just got dollar amounts instead. It was done in 34 and 68 to avoid deflationary spirals. E.g. in the 60s the amount of silver in a silver dollar was actually worth $1.29 so anyone with a silver $1 certicate that traded it in to the gov't for a silver dollar would actually be recieving $1.29 worth of silver, thereby making a profit. So the govt changed the law to a $1 silver certificate being worth $1 instead of being worth 1 silver dollar. http://en.m.wikipedia.org/wiki/Silver_Certificate

34 and 71 r the same type of things. They are not defaults they r just instances of keeping certificates at an original pricing to avoid deflation. Further I can find no source of this being a default besides 1 essay kinda saying 34 is somewhat of a default. The only other source is an article written by Ron Paul that provides no references and is requoted a bagillion times.

The "default on creditors saying we helped them w/ foreign aid so we wont pay them" is completely retarded.

There is debate about if intragovt debt should count as debt.

We do need to revisit entitlements to account for todays longer lifespans.

The constitution is not the supreme law of the land. This is something ppl get wrong over and over and over. The supreme law of tha land are the constitution, federal laws, and treaties.
http://en.m.wikipedia.org/wiki/Supremacy_Clause

Wow. You have less than zero understanding about money and absolutely no understanding about the rule of law.

"All we did in 34, 68, 71 was say thay u could no longer recieve precious metals for certificates but instead just got dollar amounts instead."

Who exactly is we and who exactly is you? Are you a government employee?
Also look up Presidential Executive Order 6102 and see how wrong you are about "all the government did".

"The constitution is not the supreme law of the land. "

You are trying to imply that something else is higher in the rule of law in America than The Constitution. You go to prove this by showing a wikipedia link to the Supremacy Clause. rofl
Where exactly is the Supremacy Clause found genius? Do you know what a constitution is?

This is only the beginning in an almost endless list of distortions but hopefully I posted enough for anyone who reads your drivel to at least take pause when reading your posts in the future.

wiki sites the constitution which says
"This Constitution, and the Laws of the United States which shall be made in pursuance thereof; and all treaties made, or which shall be made, under the authority of the United States, shall be the supreme law of the land;"
Tada the constituion says the laws of the land are the constitution, treaties, and federal laws.

The "supremacy clause" is the most important guarantor of national union. It assures that the Constitution and federal laws and treaties take precedence over state law and binds all judges to adhere to that principle in their courts. - United States Senate[1]

From the wiki.
The damn supremacy clause which is constantly talked about by ppl claiming to know the constitution is not a clause stating the constitution is the highest order, it's a clause about federal gov't trumping state level gov't and judges needing to follow that rule.

Also yes 34 is different in that the gov't made possession over a certain amount illegal except in certain forms. But it was for the same reason as 71, to avoid a deflationary spiral. Plus when they made gold worth $35 in 1934 was for international transactions.

The price of gold from the Treasury for international transactions was thereafter raised to $35 an ounce ($587 in 2010 dollars). The resulting profit that the government realized funded the Exchange Stabilization Fund established by the Gold Reserve Act in 1934.

http://en.wikipedia.org/wiki/Executive_Order_6102
That is not defaulting.

Gee look what else the US constitution says
"No person shall be held to answer for a capital, or otherwise infamous crime, unless on a presentment or indictment of a Grand Jury, except in cases arising in the land or naval forces, or in the Militia, when in actual service in time of War or public danger; nor shall any person be subject for the same offense to be twice put in jeopardy of life or limb; nor shall be compelled in any criminal case to be a witness against himself, nor be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation"
http://en.wikipedia.org/wiki/Fifth_Am..._Constitution#.22Just_compensation.22

Which the supreme has said means market value for your property

The last two words of the amendment promise "just compensation" for takings by the government. In United States v. 50 Acres of Land (1984), the Supreme Court wrote that "The Court has repeatedly held that just compensation normally is to be measured by "the market value of the property at the time of the taking contemporaneously paid in money."

Constitution allows the US federal gov't to seize any property you have so long as they pay you the current market value for whatever it is they are taking.