Comments on: All Money In The United States Comes Into Existence As Debt – So What Will Happen Now That Bank Lending In The U.S. Is Contracting At The Fastest Rate In History?

By: Bob Scrymgour

Bob Scrymgour — Wed, 17 Mar 2010 23:34:51 +0000

America is going to devalue its currency to ecome
competative in world markets if it wants to restart its indutries .

China is not going to raise the value of its currency just to please America.

By: John O'Neill

John O'Neill — Sat, 13 Mar 2010 02:48:29 +0000

This article is well written although we can’t credit the writer for doing such a good job, because nobody knows who wrote it; nevertheless, this article sums up our future fate quite well. No quick fixes are coming, i.e., End the Fed; Ron Paul etc. We’re basically screwed. I hate to admit it, but Jacques Attali says it best on page 90 of his book titled Millenium: Winners and losers in the Coming World Order. He states on page 90, “Excess debt always leads to inflation, bankruptcy, and financial collapse.” Hello Mr. Attali and goodbye Happy Days. Make sure you have storable food, weapons and ammo, filtered water, and gold. Gerald Celente is quite right when he says it’s going to be about neo-survival. Hell is on the way folks.

By: Ten Megaton

Ten Megaton — Wed, 10 Mar 2010 23:27:26 +0000

RTZ…Since this economic catastrophe is engineered by ..well you know…that is out of the question.

By: GrayCat

GrayCat — Tue, 09 Mar 2010 15:23:02 +0000

RTZ: Reset To Zero, its only paper, absolve all debt, everyone owns hard assets free and clear, start over. What happens when your computer runs amok, you “reboot”. Reboot the economy, cuz its only paper, pretend assets, kited up to insane proportions.

Everyone gets to start again, US, third world, developing, developed, reset to zero, start over

By: Lunatic Fringe

Lunatic Fringe — Tue, 09 Mar 2010 03:12:10 +0000

I just want to mention fractional reserve banking and the great “cash for clunkers” giveaway.

“Clunkers” was designed as an additional bailout for banks. It served no other purpose. It was not designed to “kick start” the economy or get you to buy “green vehicles.” Clunkers was designed to create new money via increased debt. Create money by acquiring new debt. The program helped bail out banks and screwed taxpayers once again.

People have no idea what fractional banking is. Most people think that the Federal Reserve Bank, thanks to the misleading title, is actually some arm of the Federal Government.

By: Cowboy

Cowboy — Mon, 08 Mar 2010 20:25:27 +0000

There is at least one partial alternative – dissolve the Federal Reserve. Instantly, about 1/2 our debt goes away. There is no reason we should be paying interest on our own money!

Of course, we still have piles of foreign debt, but at least we’d be on course to righting the ship.

By: Micheal Porter

Micheal Porter — Mon, 08 Mar 2010 19:15:33 +0000

“All Money In The United States Comes Into Existence As Debt”

Yes. And when the public as individuals is unable to take on any additional debt to keep the economy running, then the government and amazingly even the Federal Reserve step into take on the debt. The catastrophic difference is that the rapidly ballooning gov and Fed debt cannot be serviced. There are no toiling little souls dutifully working and paying on the debt.

We are doomed. The masters at the helm have done a herculean job of keeping this mess running for as long as they have – and virtually nobody is impressed.

By: Concerned Reader

Concerned Reader — Mon, 08 Mar 2010 04:28:33 +0000

I look for things to get bad by mid summer to winter of this year. We are all heading for harder times and this time the government will not be able to print money to stabilize the economy. This country will most likely fly head first into a global depression that make the 1930s look like a Macy day parade.