Who owns the U.S. assets?

This thread is a spin off of another thread.

Who owns the U.S Debt
www.abovetopsecret.com...

We all know that there is a huge unpayable national debt. The United States is bankrupt, morally as well as financially. Good job guys.

So as we get ready to proceed into phase 2, I am wondering how will the assets of the US be split up?

In every bankruptcy the debtors come out of the shadows to lay claim to whatever assets remain of the bankrupted entity.

So who owns the assets of the US?

I say everything belongs to the american people and property and posessions should be redistributed evenly; more or less.


[edit on 10-3-2007 by In nothing we trust]

I made a similair thread as this a few days ago... it was titled, "what would happen if everyone cashed in their assets"? I personally dont believe that the banks have enough money to give out if everyone sold their houses and took out all their money from the banks. I really think its just all numbers on a computer screen.

Why when the US has more assets than debt would the US go through a bankruptcy?

Bankrutpcies are when a company or person is incapable of making payments on their debts or something similar (not limited to that) and so divides their remaning assets to priority creditors such as stock holders (not creditors but can be made a priority of who gets what monies) and banks...

The US has a massive income, over 1 trillion USD a year.

The US has massive amount of assets...

How will it go "bankrupt"?

Originally posted by The_Investor
Why when the US has more assets than debt would the US go through a bankruptcy?

How will it go "bankrupt"?

The payments on the debt are unnessarily burdomsome upon the people, considering all these other taxes (State income tax, social security tax, medicare tax, sales tax, property tax, dog tag fee, cell phone tax, vehicle registration, etc) around that have to be payed as well.


[edit on 10-3-2007 by In nothing we trust]

Originally posted by In nothing we trust

Originally posted by The_Investor
Why when the US has more assets than debt would the US go through a bankruptcy?

How will it go "bankrupt"?

The payments on the debt are unnessarily burdomsome upon the people, considering all these other taxes (State income tax, social security tax, medicare tax, sales tax, property tax, dog tag fee, rental car tax, etc) around that have to be payed as well.

But the payments are currently manageable - and the growth of GPD pays for the debt similarly to refinancing your house.

If your property value increases, refinance, increase your debt but get paid the difference...whatever.

That's almost exactly how the US Debt or any government debt is being treated.

I agree though - public debt is a sin and perpetual debt is the rise of tyranny (as Jefferson said) but the way to fix it is curbing government spending.

[edit on 10-3-2007 by The_Investor]

Originally posted by The_Investor
... the way to fix it is curbing government spending.

The single party that owns D.C. have no plans on doing that.

Originally posted by In nothing we trust

Originally posted by The_Investor
... the way to fix it is curbing government spending.

The single party that owns D.C. have no plans on doing that.

Sadly but now two things, address the way debt opperates and address assets.

Who owns the assets? US assets are owned by so many it's hard to say for sure but the big numbers to look at would be gold, and other metals and stockpiles, would be the stock market in general...such and so forth heh?