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Post by redwolf on Dec 4, 2007 11:25:44 GMT -6
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Post by redwolf on Dec 7, 2007 22:20:16 GMT -6
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Post by blueneck on Dec 8, 2007 5:34:29 GMT -6
This is the very problem with running up deficits - it gives foreign entities too much control over our economy, Just look at what the veiled threats from china to sell off some notes did for the value of the dollar.
And Darth Cheney says "deficits don't matter" of course they don't if your a proglablist neocon bent on destroying our sovereignity
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Post by unlawflcombatnt on Dec 9, 2007 6:07:39 GMT -6
There have actually been some huge revisions to the totals for the UK on the recent updates. 1 year ago, the stats showed the Brits already having well over $100 billion in U.S. securities. The current report shows a much lower amount for the same time period. Somewhere I have copies of the earlier versions of the year-ago numbers. I'll combine them and post them later. I'm don't know what the advantage would be in changing all of the numbers, nor am I sure I believe the Brits have actually increased their US holdings as much as the chart shows over the last year. Reported Treasury holdings should require almost 0 revision of previously published numbers. Surely the U.S. Treasury Dept. knows who's holding outstanding debt, and how much in Treasuries they've actually sold.
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Post by redwolf on Dec 9, 2007 8:04:38 GMT -6
I wonder if the dollar dropping lower than the euro has spurred more European investment in US securities?
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Post by socred on Dec 9, 2007 9:48:33 GMT -6
The following is a letter written to the then Premier of Alberta William Aberhart by Cliffor Hugh Douglas. Aberhart was the leader of the first elected "Social Credit" government. Although, the government had little success in implimenting Social Credit, because the bills were ruled "ultra vires" by the federal government. DEAR MR. ABERHART, This seems to be a suitable occasion on which to emphasise the proposition that a Balanced Budget is quite inconsistent with the use of Social Credit [i.e., Real Credit--the ability to deliver goods and services “as, when and where required”] in the modern world, and is simply a statement in accounting figures that the progress of the country is stationary, i.e., that it consumes exactly what it produces, including capital assets. The result of the acceptance of this proposition is that all capital appreciation becomes quite automatically the property of those who create an issue of money [i.e., the banking system] and the necessary unbalancing of the Budget is covered by Debts.
C. H. Douglas London, EnglandA pamplet entitled, "The Fallacy of a Balanced Budget", written by Douglas can be found at the following link: www.capitalownership.org/lib/DouglasFallacyBalBudget.pdf
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Post by redwolf on Dec 16, 2007 10:22:26 GMT -6
That may be true within reason, socred. There is no way $9.13 trillion in debt that we can't even pay the interest on is a good thing for the American economy. There is a threshold where it is too much and we have crossed that line.
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Post by graybeard on Dec 16, 2007 10:30:13 GMT -6
The Payday Loan sharks will pale in comparison to the Communist Chinese when they come to collect.
GB
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