fallstaff

This treaty is NAFTA on steroid for us lower class working folks the only thing that matters is to defeat this bill any damn way we can. Other wise what jobs we have for the lower class will go over seas. Vote for whom ever will stop this egregious and pernicious treaty. In this case it is not important if the they conservative, liberal ,gay ,straight . democrat, republican, communist or what ever as long as they stop this deplorable treaty. Tax payers if you think paying for 47 million on food stamps is bad; you will be paying for 65 million on food stamps if this treaty is approved.

MarvinSussman

Fallstaff speaks the truth! And here is more truth to consider:

Q: Is our so-called “national debt” a real debt, an interest-bearing burden that we must repay?
A: No, It lacks the two essential qualities of a real debt. It’s a “Debt In Name Only”, a “DINO” -

1. A real debt is a serious burden. Our DINO is not now and never will be a serious burden for taxpayers.

Our DINO is the total value of all issued and still maturing treasuries. Who pays for the redemption of mature bonds? It’s not the taxpayers! It’s the buyers of newly-issued treasuries who pay for the redemption of mature treasuries. It’s equivalent to a simple bond rollover done every day by bond-owners. In every auction, more treasuries are demanded than are available from the supply of new issues. Auction winners get the safest, most liquid US dollar instruments; the losers are stuck with bank risk. If it were ever necessary, the Fed could even create an artificial demand for treasuries by buying them in the open market with a few keystrokes. Where’s the awful burden?

Our Treasury does not borrow money like a home-buyer getting a mortgage. It is rather a custodian of funds, like a bank accepting money offered for certificates of deposit. While a bank with too many bad loans can certainly have too many maturing CDs, our non-lending, fiat Treasury cannot have too many maturing bonds unless its deficit spending is causing harmful inflation. And that happens ONLY in a war or emergency requiring rationing. It NEVER happens during a recession. During prosperity, banks are ALWAYS the sole cause of inflation, creating over $6 of credit for every $1 of deficit spending. To curb inflation, don’t restrict infrastructure spending for the future! Regulate the banks!

The Treasury auctions bonds only because Congress requires that the proceeds finance the annual budget deficit. This requirement, now a relic of the former gold standard regime, was suspended during World War II, followed by 35 years of strong economic growth without harmful inflation. Now, under our fiat currency regime, Congress can again, without auctions, finance deficits out of thin air, the same way your corner bank financed your home mortgage.

Crying that our DINO is unsustainable, Wall Street scammers have panicked the public and many ignorant journalists and politicians, in Congress and in the White House. It’s a hoax meant to yield a fortune in commissions by privatizing Social Security and Medicare. And, bribing Congress into austerity, the Wall Street con artists are nursing a huge army of unemployed labor that prevents the middle class from bargaining for better wages. As our rotting infrastructure renders our industry incompetent, it is that growing army of the idle that will become unsustainable.

2. A real debt must be repaid. Our DINO will never be repaid and should never be repaid.

Only a federal budget surplus can reduce our DINO. Since dropping the gold standard in1971, we have rarely had even a modest budget surplus. None is now in sight. To supply enough treasuries, the ONLY risk-free instrument used for trade collateral, insurance, pensions, bank reserves, etc., our Dino must continue to grow along with our economy. In fact, deflation and then depression will hit us hard unless big budget deficits replace the cash now flowing into China.

lpnmajor Loc: Arkansas

Making credit card payments by charging them to another card never ends well.

Whatamess Loc: SC

From what I have read about the treaty, we will not only be on food stamps(if we can get them), we will lose most of our rights as citizens. Everyone needs to google this, it's scary as hell. We need to write our reps in Washington NOW and tell them NOT to vote for this.

shabby

I had not heard about this treaty till reading about it here.
I hate all this secret meeting and trying to hide everything from the American people. I understand by reading on the internet it is American Corporation that is behind it.
Is this true?

Whatamess Loc: SC

If you haven't read this, it is a very good article
http://intellihub.com/2013/11/14/obamas-secret-treaty-which-will-merge-america-more-deeply-into-the-emerging-one-world-economic-system-2/

JerryMac

Does the Treaty Power Threaten Our System of Limited Government?

http://www.youtube.com/watch?v=_cpnbdNFDK0

Whatamess Loc: SC

It is not supposed to but if we allow a President to overstep his authority then we are in trouble. When the justices and the appellant courts are set up (appointed) to follow a Presidents agenda we don't have much legal recouse do we?

MarvinSussman

Ipnmajor was unable to find any fault whatsoever with my facts and/or logic, so what could he do? A total non-sequitur, a meaningless reference that has absolutely nothing to do with my argument.

A cowardly slur instead of honest debate. A disgrace to honest communication.

shabby

Thank you. Everything so quiet about this. Glad I am on this forum. It is educational.

lpnmajor Loc: Arkansas

You're still sore about losing the argument on the other thread. I sympathize but the fact remains - virtual money IS NOT REAL MONEY.

MarvinSussman

Nobody, not even you, has any idea of the meaning of that sentence. Pure gibberish. I get my ideas from:

(books are available at Amazon for about $10)

Frank N. Newman, former Deputy Secretary of the US Treasury, recipient of the Treasury’s annual “Alexander Hamilton” award, author of “Freedom from National Debt” (Two Harbors Press)

Francis X. Cavanaugh, US Treasury economist for over 30 years, author of “The Truth about the National Debt”: Five Myths and One Reality” (Harvard Business School Press)

Warren Mosler, economist, author of “Seven Deadly Frauds of Economic Policy” (Oxford U. Press)

Dr. Stephanie Kelton, Chair of the UMKC Economics Department, at NewEconomicPerspectives.org

Where do you get your knowledge?

lpnmajor Loc: Arkansas

It's called " common sense " and I get it from LpnMajor Sr.

MarvinSussman

The simple fact is that you did not find a error in any sentence that I wrote. You just don't like the conclusion.

Innocent men spend 20 years in prison before the truth frees them because juries are filled with people like you with their minds impervious to facts.

lpnmajor Loc: Arkansas

What facts? You only quote nonsense. Just because someone else said I too doesn't make it true ( hey that rhymed ). The only reason you attack me personally is because you have no cogent argument. I get it, it's ok.