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Ron Paul: US Should Declare Bankruptcy

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posted on Jun, 30 2011 @ 09:36 PM
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reply to post by ShogunAssassins
 


I guess this is to trying to say Ron is trying to cause the default for Cantor? Ron as wanted to default on our debt for quit some time now since 2008 for sure. I just looked for the speech video (looks like the user has taken it down) from his 08 campaign where he talks about if we don't stop the FRB from extending new credit and printing new money that the nation would have no choice but to default.




posted on Jun, 30 2011 @ 09:36 PM
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reply to post by firemedic10
 


You are absolutely right,...DR. Paul is acting like an honest Doctor that is telling his patient: "Your leg is GANGRENED... we need to do the right thing and CUT IT OFF... I know it sucks,... but if we don't , YOU DIE..."
edit on 30-6-2011 by coastlinekid because: (no reason given)



posted on Jun, 30 2011 @ 09:37 PM
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There is no point starting again as it will only be a matter of time until you reach the same situation again. The problem is not the debt, it is the system or capitalism a.k.a. Greed. there is enough money in America to be clear of debt but the problem is that it all lies with private individuals. The billionaires who keep on accumilating money are taking it all from the working man. Why does any one person deserve to live such a luxourious life when somebody sleeps on the streets.

The problem is WEALTH DISTRIBUTION, not the lack of wealth.



posted on Jun, 30 2011 @ 09:41 PM
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Originally posted by ParanoidAmerican
reply to post by ShogunAssassins
 


I guess this is to trying to say Ron is trying to cause the default for Cantor? Ron as wanted to default on our debt for quit some time now since 2008 for sure. I just looked for the speech video (looks like the user has taken it down) from his 08 campaign where he talks about if we don't stop the FRB from extending new credit and printing new money that the nation would have no choice but to default.


Thank you! I think some people just read the title. Just like we didn't want to bail out the big banks we should NOT bail out ourselves. They should of took the bullet for what they did and we SHOULD take it for allowing it to happen for so long.



posted on Jun, 30 2011 @ 09:41 PM
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Ron Paul doesn't mean `` declare bankruptcy`` the way you guys think he means `` declare bankruptcy``, he never said not to repay people that lent us something of ``value``. He saying don't pay the fed which charges ``interest`` on money it lends us that has no value. Watch the video I posted.



posted on Jun, 30 2011 @ 09:43 PM
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Originally posted by David9176
reply to post by morder1
 





I dont care about voting at all... its all rigged IMO...


Voting or not...there is no way the majority of Americans would support bankruptcy....this would cause a ton of problems....horrible ones.



So like I mentioned in my earlier post... it may not be a popular idea, but its the SANE idea... We are going to have to face the debt sooner or later... Id prefer sooner, postponing it will only make it MUCH MUCH worse when it finally falls apart...

Why are you so willing to keep passing this massive debt upon future generations, specifically unborn generations...

Time to wake up and smell the $hit...

To the person talking about the dollar dropping into nothing... IT ALREADY HAS!! It has lost 97% of its value since the FED was established 98 years ago... 1% per year basically... They are just patching this scheme together with paper... not even duct tape...

Thats why you take the advice of many many people, and get out of FIAT currency and into a real currency... Hmmm let me think, what has been currency for the past 5000 years? Oh yeah gold and silver... buy that instead



posted on Jun, 30 2011 @ 09:46 PM
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reply to post by coastlinekid
 


Finally, another realist in this thread...


Seriously... just adding more debt is no solution...

Like I said before in this thread...

Do you really think, for a random middle/lower class person who can no longer afford the payments on their credit cards, The solution is to get more credit limits to get more debt?

HOW THE HECK DOES THAT SOLVE ANYTHING? Plus you think bankers would allow that person to do that?



posted on Jun, 30 2011 @ 09:47 PM
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Originally posted by morder1

Originally posted by David9176
reply to post by morder1
 





I dont care about voting at all... its all rigged IMO...


Voting or not...there is no way the majority of Americans would support bankruptcy....this would cause a ton of problems....horrible ones.



So like I mentioned in my earlier post... it may not be a popular idea, but its the SANE idea... We are going to have to face the debt sooner or later... Id prefer sooner, postponing it will only make it MUCH MUCH worse when it finally falls apart...

Why are you so willing to keep passing this massive debt upon future generations, specifically unborn generations...

Time to wake up and smell the $hit...

To the person talking about the dollar dropping into nothing... IT ALREADY HAS!! It has lost 97% of its value since the FED was established 98 years ago... 1% per year basically... They are just patching this scheme together with paper... not even duct tape...

Thats why you take the advice of many many people, and get out of FIAT currency and into a real currency... Hmmm let me think, what has been currency for the past 5000 years? Oh yeah gold and silver... buy that instead


I was the one talking about the dollar dropping. And yes I know its has lost it value since the fed. I was making the point to some people that was saying declaring bankruptcy would destroy trade and our ability to borrow and cause a country to fire a nuke. I was just asking so what happens when the dollar crashes....to nothing. Get it over with now and I agree 100% with getting rid of fiat currency.



posted on Jun, 30 2011 @ 09:47 PM
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We should go the Iceland route, but that will never happen, they are going to make sure that they bleed the taxpayer to the fullest.



posted on Jun, 30 2011 @ 09:52 PM
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I was the one talking about the dollar dropping. And yes I know its has lost it value since the fed. I was making the point to some people that was saying declaring bankruptcy would destroy trade and our ability to borrow and cause a country to fire a nuke. I was just asking so what happens when the dollar crashes....to nothing. Get it over with now and I agree 100% with getting rid of fiat currency.


Amen... lets get it over with now... Hell I personally think it shouldnt be this generation that has to pay for this mess... And instead it should be the older generations who have to pay, since they let all this crap happen...

But Id rather get it over with instead of just passing this debt on to the future... I dont have any kids, and for sure wouldnt even want any with the madness we are dealing with... But if we had a chance at a real fresh start, I would definitely re-think my position on kids...



posted on Jun, 30 2011 @ 09:55 PM
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reply to post by morder1
 


Why worry about adding more debt?

The hole is bottomless as it is...

Drastic measures must be taken by US or else, drastic measures will be taken AGAINST US...

GM declared bankruptcy and now they are the darling... pathetic...

The point is: There is NO WAY OUT... the U.S. should take Iceland's lead and tell the FED to F-OFF!!!


They are going to bankrupt us anyway...



posted on Jun, 30 2011 @ 10:00 PM
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your options as americans are:

1 declare bankruptcy and stiff everyone and that means we become a credit risk and noone will lend us money so then they wont be borrowing more money.
2. increase taxes to even 100% and that still wont solve the problem revenue decreases and people wont be able to put food on their table the fact is you can tax everyone in this country everything and it still wont pay off.


i am for stiffing people who i did not borrow from screw them and screw intragovernment debt you have over 5 million government employees and their pensions

i didnt make this mess those idiots did. GO BANRUPTCY and do it in florida that way you get to keep everything.



posted on Jun, 30 2011 @ 10:00 PM
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the trouble with alot of these hypothesese is that you are only taking into account how it will affect America internally. The effect of these actions externally would be the problem, it would destabalise the whole world economy and the economy of America is well and truely Global.

Like I have said earlier anyway, even if you started from scrath it would only happen again anyway unless you changed to a social system less driven by greed. I will say it again, the trouble is where the wealth is distributed, not that there is no wealth left in America.



posted on Jun, 30 2011 @ 10:01 PM
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Either way it's going to come down on us, you cant run from this issue, we would be better off to just get it over with. Its not going to end well, i will assure you that.



posted on Jun, 30 2011 @ 10:05 PM
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Originally posted by discharged77
Either way it's going to come down on us, you cant run from this issue, we would be better off to just get it over with. Its not going to end well, i will assure you that.


What happened when the British Empire conceded its world dominance to America? Answer is it ammased extrodinary debts brought on by war and ended up borrowing most of it from America.

Same is happening again except switch America with Britain and the US with China. It is just history repeating its self.



posted on Jun, 30 2011 @ 10:10 PM
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reply to post by michael1983l
 


I agree, it is just history repeating its self.

Except, since the repeal of Glass-Steagall,... now we are in it for HUNDREDS OF TRILLIONS...


Oops...



posted on Jun, 30 2011 @ 10:13 PM
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reply to post by ShogunAssassins
 


I happen to agree with Dr. Paul, this is a good idea. The American People's debt to the FRB is suddenly ended and even, and the US defaults an all of it's debt to other countries. Now America can create from scratch a monetary system that was actually legal, and eliminate the Central Banking Cartel and Federal Reserve and seize all of their many assets, including off shore accounts, and use it to run the country, and do the country's business. America can also ban and seize assets of the Internal Revenue Service. There are many, and I really do mean many "hidden" taxes that you never see or think about that add up to a lot when you take the product from the shelf to buy it. A simple 25% consumer tax would run America nicely, refund the Social Security and Medicare, ans the American Dream would be alive again. Anything wrong with that?



posted on Jun, 30 2011 @ 10:16 PM
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The US would not be the first once powerful country to default on its obligations, in fact almost all once powerful countries have come to some type of default in their waning days of power. Rome, Byzantium, Spain, England, France, and Russia/USSR to name only a few notable ones. The default might have been hidden by printing money, reminting coins with less precious metals, and other means.

It is possible that the US could get its house in order financially but highly unlikely.

TheThe US will not default if it hits the debt limit. The US will default if it doesn't pay principle or interest on a bond.



posted on Jun, 30 2011 @ 10:23 PM
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It really is a shame what has happened to this country, its going to take a long time for these things to correct themselves.



posted on Jun, 30 2011 @ 10:23 PM
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I have a feeling RP won't be talking of this too much longer.

Do you really think that the FED Reserve would let that happen?

I bet you money (FED Reserve notes) it never happens.

Common sense people............. $1.5 trillion is way too much for any entity not to protect it's investment. What will be the contingency plan to make them (us) pay?.....Does the bank just let you walk away without paying?.....Hell no, you pay in the long run.....


Liejunkie says dream on and get used to it already......Unless you have $3 trillion (you need at least double) to barter with.


But then again, the FED prints the money....Lose......Lose.......




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