OPP Newsletter

WhoIsJohnGalt

Well, it is the taxpayers of California who are going broke trying to pay the pensions of their unionized civil servants. I do not see this as one of my responsibilities. I do not reside in California.

Dragnet

Why so low? Why not make it 2 or 3 million a year. After all, it's only taxpayer's money. If you run out of money, you can get Washington to print more of it. That is if the anointed one has not spent it all on vacations.

WhoIsJohnGalt

You just mentioned something that I have grown tired of hearing. I know that everyone says that the government "prints" our currency, but they really don't. They only borrow from the Federal Reserve Bank. Those bills in your pocket? Take one out and read it to yourself. The very first line at the top says, "Federal Reserve Note." Do you now what the word "note" means? It is the equivalent of a debt instrument that can be t***sferred from one person to another.

Each and every printed piece of paper currency printed today is a loan that is backed by our government. The only real money that the government can come up with is the taxes it lays on us.

I have worse news. The printed and coined currency we have is nowhere near what we have in circulation. The bulk of our money is merely bookkeeping entries in the banking system's computers. We would be much better off if the government were to take over from the Federal Resreve Bank and simply print the currency. The trouble with that idea is that our politicians know that they would run the presses too hard and we would go down in a wave of hyperinflation. We are about to suffer that fate anyway. We'll have to wait until it blows up and collapses. Then we will see what comes crawling out of the ashes.