National debt grows $1 million a minute!

National debt grows $1 million a minute!

news.yahoo.com

What's that mean to you?

It means almost $30,000 in debt for each man, woman, child and infant in the United States.

Even if you've escaped the recent housing and credit crunches and are coping with rising fuel prices, you may still be headed for economic misery, along with the rest of the country. That's because the government is fast straining resources needed to meet interest payments on the national debt, which stands at a mind-numbing $9.13 trillion.

(visit the link for the full news article)

And the argument for a fiat currency is what?

A major economic slowdown, as some economists suggest may be looming, could hasten the day of reckoning.

The national debt — the total accumulation of annual budget deficits — is up from $5.7 trillion when President Bush took office in January 2001 and it will top $10 trillion sometime right before or right after he leaves in January 2009.

That's $10,000,000,000,000.00, or one digit more than an odometer-style "national debt clock" near New York's Times Square can handle. When the privately owned automated clock was activated in 1989, the national debt was $2.7 trillion.

I thought that was pretty alarming as well. Are we going to actually rebound for this one, or do I sense 1929 all over again?



Props to SimiusDei.


news.yahoo.com
(visit the link for the full news article)

Indeed!


This is EXACTLY what happens when a country allows PRIVATE BANKERS to control the wealth and print money out of thin air with absolutely NOTHING backing the money up.


Just think all, when it comes time to pay your taxes this year, you are paying interest on something that doesn't even exist.


Jasn

This should scare the ever living # out of every American on ATS. My great grandmother's family was one of the wealthiest families in the entire Salt Lake valley. One of the first to own an automobile in the state, even, and after the depression they were sharing a 2 bedroom apartment with another family of 6. If you think this has no bearing on the way we all live our lives, than you're sadly mistaken. This will hit you and your family harder than terrorism, immigration, or any other intangible threat.


This is the end of America and we're letting it happen.

We are in debt only so long as we all agree that the system we are using can leave us indebted for using it.


Clearly, something is wrong in our money system.

Google Video Link

We CAN rebound from this, but we will have to extinguish all debts to banks (just the interest charges. don't want to be cruel), and institute a means of putting money into our economy that doesn't use loans to do it.

This can be done by you, in your hometown, on a local level by starting a community currency.

Every city in the US needs to start doing this. Eventually, we can all decide to merge these currencies later, but we need a stop-gap method to lean on while the dollar crashes.





[edit on 3-12-2007 by dionysius9]

A little statistics.


80 percent of it was created under 3 Republican presidents, Reagan, Bush Sr, Bush Jr, and 80 percent of that was created by Junior.

Creating terrorist doesn't come cheap

reply to post by khunmoon


And that's only one factor of the COMPLETE rape over of the American people. The war in the Middle East is a joke in itself. It kills me to know that anonymous men and women have the power to interfere with the well being of my loved ones through a little piece of paper. Kills me to know that they're sending my friends off to war for their own benefit. This world is twisted and if we don't do something about it soon, we'll be directly manipulated by their systems. More so then we are now.

I can only agre DeadFlag.

And think about what they do to those who fights their wars. The vets, the the Walter Reed hospital, taking their bonus if they get wounded, and like the recent story of getting indicted for trying to commit suicide.

Yeah think about the suicides.

reply to post by khunmoon


That's another issue! We can afford the war in all it's glory but we can't afford to give our vets the best treatment for whatever ails them? What kind of country are we letting evolve from the ones of our forefathers? Less money should be spent on $5,000 dollar Halliburton napkin sets every day and more money on how our servicemen and women are being treated.

What is wrong with our national priorities?!

reply to post by DeadFlagBlues




If we can devote this much national effort to war

We can devote as much to peace.

Frankly, I don't think White House cares much about the national debt.

reply to post by TheoOne


If you think anybody in the White House cares about how you and I are doing, you're kidding yourself. They could care less what they're doing to the country that has given them so much, and they're leaving us in the afterburners of their propserity. National debt means nothing to them, because it's not riding on the back of their family. As citizens we need to unite and push back. We can only take so much and our backs are breaking as we speak.

reply to post by TheoOne


No they don't as long as they can keep priting money to maintain the illusion of prosperity well and alive and to keep the banking system afloat.

Toda's news Dollar have another hart attack

Originally posted by dionysius9
This can be done by you, in your hometown, on a local level by starting a community currency.

Yeah and watch the FBI swarm in and take it all- like they did with the Liberty dollar. Anything backed by gold and silver is bad. The Liberty dollar was backed by gold inflation free yet they seize it go figure.

reply to post by Leyla




Google Ithaca Hours.


There are many many communities doing this today. It's not illegal by any shape, means, or form.

The only reason they stopped the Liberty Dollar was because they had coins with Ron Paul on them.


They REALLY hate Ron Paul. Can't have his name or face circulating around...


Seriously, why not confiscate all monopoly money, disney dollars, coins from private mints, and poker chips?


You can trade anything for anything, so long as you and the person you trade with agree that its fair.



[edit on 3-12-2007 by dionysius9]

Originally posted by dionysius9
reply to post by Leyla

 

Google Ithaca Hours.


There are many many communities doing this today. It's not illegal by any shape, means, or form.

The only reason they stopped the Liberty Dollar was because they had coins with Ron Paul on them.

That shouldn't have mattered- There's perhaps 8-15 different coins. They seized all coins and the dies as well.

Originally posted by khunmoon
80 percent of it was created under 3 Republican presidents, Reagan, Bush Sr, Bush Jr, and 80 percent of that was created by Junior.

Where do you get that figure?

Well, if it's a problem of currency supply, we have plenty of Canadian Tire Money in our droars, and nothing to do with it but bring it back to Canadian Tire to buy tools.

Want some? lol.


I actually think the community dollar sounds like a good idea. But how will the US government take to the idea of a non-taxable currency infecting regions of the country?
I can't see it lasting long before it gets shut down.

Perhaps the local casinos can become banks... they already have their own version of a currency, and theirs is legal.

Well if the dollar is devalued then the debt becomes less of a debt. As long as Americans make 5 times more money then its ok for a dollar to be worth 5 times less.

Say china has 1 trillion in our debt. If we devalue the dollar, and put 5X more more money (dollar bills) into the system, and pay American workers 5X more money, China still has 1 Trillion in our debt, but its worth 5X less.

I know this sounds crazy, and I am not smart on economic matters, but is this why none in our government seem to care that our dollar is weakening? I mean, what difference does it make if I carry the same quantity of 5 dollar bills around in the future compared to the quantity of 1 dollar bills now? It wont matter if gas is $5.00 if I have more money from my job .

Seems like maybe America is getting China back for that trade deficit?

I am sure my theory is rediculas since I know nothing about how our money system works

reply to post by Johnmike


Google is your friend:

Example:wiki graph

I'm sure you can find the raw data if you look for it...
.