It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Originally posted by dontreally
reply to post by EarthCitizen07
Indeed so and it is great! No more rothschild and rockefeller elitism. Who would not be proud of that moment?
You think one person has the right to tell another person what to believe? Libertarian socialism, to take just one example of socialism, intends a complete cultural makeover. It won't limit itself to "helping the workers". No, that's simply a pretext to procure power. When power is attained:
"Libertarian socialism also constitutes a tendency of thought that informs the identification, criticism and practical dismantling of illegitimate authority in all aspects of social life"
Just check out their portal at Wikipedia. Free love, Free society, Queer theory, Feminist theory...The word "coexist" doesn't exist in their lexicon. They only borrow the word libertarian, only the outer shell of the idea they pay deference to. But Christians, Jews.. in short, conservatives? Those with a different spiritual or religious outlook they pompously pronounce to be "authoritarian"...and yet their pronouncement, and their subsequent suppression of these different outlooks, is not authoritarian...They are not libertarians. Libertarians tolerate ALL differences - not just those which suit their prejudice.
Have you read anything of Frederich Hayek?
I said atheist liberal. Perhaps atheist anarchist would be more apropos. Don't get me wrong, they're spiritual, they're just remarkably intolerant of those whom they disagree with. They're fanatics.
You people make no sense whatsover and are politically illiterate. I am for a mixed economy with a public central bank.
Ok then. I didn't know that, as I have never had this conversation with you before.
Federal Reserve Chairman Ben Bernanke gave his fourth lecture at George Washington University yesterday. Buried in the lecture, beginning at about 19:18 in the video, Bernanke explained where the Fed got the money to “pay for” the assets it purchased as part of its Quantitative Easing (QE) policies.
The Federal Reserve, like any bank, can acquire an asset simply by crediting a bank account. In other words, the bank pays by creating money. As Alan Greenspan explained, the Fed has an unlimited capacity to spend in US dollars. It can pay trillions of dollars with a single keystroke. Here is Chairman Bernanke (Readers can follow is presentation beginning on page
So ask yourself this question: If the Federal Reserve can create trillions of dollars with a single keystroke, and the Fed is the government’s bank, then why does President Obama claim we’ve “run out” of money? Why have Democrats and so-called progressives supported job-killing budget cuts in the name of “shared sacrifice”? Why are we throwing away the equivalent of $9.8 billion in lost output every single day? Why don’t we do something about our $2.2 trillion infrastructure deficit, 25 million underemployed and unemployed Americans, 100 million Americans in or very near poverty, and so on?
The answer is simple. Most of us don’t understand the monetary system. Instead of deciding how the government should wield its power over the dollar, we live in fear of the ratings agencies, the Chinese, the bond market vigilantes and other imaginary evils. And this holds all of us back. Unused resources abound, human needs go unmet, and the vast majority of Americans believe that ‘There Is No Alternative’ (TINA). Or, as Warren Mosler says, “Because we fear becoming the next Greece, we’re turning ourselves into the next Japan.”
There is an alternative. And it begins with an understanding of the monetary system. The cat is already out of the bag. Chairman Bernanke confirms it. Money is no object.
QE3 has barely even started and some folks on Wall Street are already clamoring for QE4. In fact, as you will read below, one equity strategist at Morgan Stanley says that he would not be "surprised" if the Federal Reserve announced another new round of money printing by the end of the year. But this is what tends to happen when a financial system starts becoming addicted to easy money. There is always a deep hunger for another "hit" of "currency meth". Federal Reserve Chairman Ben Bernanke was probably hoping that QE3 would satisfy the wolves on Wall Street for a while. His promise to recklessly print 40 billion dollars a month and use it to buy mortgage-backed securities is being called "QEInfinity" by detractors. During QE3, nearly half a trillion dollars a year will be added to the financial system until the Fed decides that it is time to stop.
It looks like a two-sided bargain. We'll give you authority to raise borrowing by $2.4 trillion, if you agree to cut $2.4 billion. I suspect that offer might still be good, but that Obama won't cut that much.
Mr. McConnell’s proposal would give Mr. Obama sweeping power to increase the government’s borrowing authority, in increments, by up to $2.4 trillion — enough, it is estimated, to cover federal obligations through next year — only if Mr. Obama specified spending cuts of equal amounts. But Congress would not have to approve the spending cuts prior to the debt-limit increase.