Mindblowing speech by an American house speaker representative.

[galacticchick]

Please read this article. It will blow your mind. Want to know how long the US has actually been broke for? Want to know what the economic world situation *actually* is?

The US President knows this. The Oz Prime Minister knows this. The BANKS know this- so think about all the lies 'financial advisers' must be telling

Comments

[scwizard]

Terms are being confused here, so let me define my own

[scwizard]

As for Australia being owned by shareholders. I'd need some stronger evidence, such as knowledge of who the shareholders are and when they have meetings.

Obviously some kind of scheming is going on there, but you gotta realize that not all schemes are successful.

Do your research :)

[triffid_hunter]

A deficit is defined as having liabilities that exceed your assets. The united states government has run a deficit for a very long time. I'd assume since even since before the gold standard was abolished.

The gold standard was never abolished, it was just made illegal (note: not unlawful) to require payment in real money rather than a bill of exchange. This allows items and services to be acquired through novation rather than bona-fide purchase.

Insolvency is defined as not being able to pay back the "minimum payment" that your creditors are asking you to pay.
When someone is declared bankrupt is the a declaration to their creditors they will never be able to pay back their dept.The United States entered chapter 11 bankruptcy in 1933, when 100% of the gold they originally posessed became property of english banks as interest payments. The gold may be still physically held in fort knox, but that's its only relation to the US. The Federal Reserve is a corporation, owned by the IMF. It is just as federal as Federal Express Couriers.

Re: Do your research :)

[scwizard]

The gold standard was never abolished
Ok, effectively abolished.

The United States entered chapter 11 bankruptcy in 1933, when 100% of the gold they originally posessed became property of english banks as interest payments.
Ok, so they became insolvent, but was this secret or out in the open?

My point still stands, that the government can't become insolvent again, because they control the bank who is lending to them.

A bunch of links
Already aware of those, and have read/watched some of them.

Aside from that I don't see any contradictions between what I said and what you said.

Re: Do your research :)

[darkentropy]

That first link is an interesting read.

Re: Do your research :)

[galacticchick]

heh. you have no idea. do a google search on Mark McMurtrie- he's an Australian Origine with amazing knowledge of Australian law. And how it doesn't apply to him, and how it can fail to apply to anyone who bothers to do their research. :D

Needless to say, we're researching...

:P