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Author Topic: Repudiate the Debt!  (Read 4834 times)
MoonShadow
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July 26, 2011, 12:45:53 AM
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"I propose, then, a seemingly drastic but actually far less destructive way of paying off the public debt at a single blow: out-right debt repudiation. Consider this question: why should the poor, battered citizens of Russia or Poland or the other ex-Communist countries be bound by the debts contracted by their former Communist masters? In the Communist situation, the injustice is clear: that citizens struggling for freedom and for a free-market economy should be taxed to pay for debts contracted by the monstrous former ruling class. But this injustice only differs by degree from "normal" public debt. For, conversely, why should the Communist government of the Soviet Union have been bound by debts contracted by the Czarist government they hated and overthrew? And why should we, struggling American citizens of today, be bound by debts created by a past ruling elite who contracted these debts at our expense? One of the cogent arguments against paying blacks "reparations" for past slavery is that we, the living, were not slaveholders. Similarly, we the living did not contract for either the past or the present debts incurred by the politicians and bureaucrats in Washington."

http://mises.org/daily/1423

This is the only way to save the US FRN, which is the only scenario that Bitcoin (or some derivitive) doesn't become the next international trade currency.


"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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July 26, 2011, 06:03:05 PM
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Because, unlike the people in Soviet Union, people in America had a choice and a say in their debt, and are thus fully responsible for things like wanting a war in the Middle East and supporting politicians who pushed for it, or voting to approve local and state government projects.

MoonShadow
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July 26, 2011, 06:36:19 PM
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Because, unlike the people in Soviet Union, people in America had a choice and a say in their debt, and are thus fully responsible for things like wanting a war in the Middle East and supporting politicians who pushed for it, or voting to approve local and state government projects.

I didn't have a say.  Am I responsible?  Collective responsibility is an evil fiction.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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July 26, 2011, 06:54:30 PM
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Because, unlike the people in Soviet Union, people in America had a choice and a say in their debt, and are thus fully responsible for things like wanting a war in the Middle East and supporting politicians who pushed for it, or voting to approve local and state government projects.

Lol!  Yeah, of course.  I forgot we live in a democracy where we are the government and there fore simply owe it to ourselves, right?

"We will not find a solution to political problems in cryptography, but we can win a major battle in the arms race and gain a new territory of freedom for several years.

Governments are good at cutting off the heads of a centrally controlled networks, but pure P2P networks are holding their own."
MoonShadow
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July 26, 2011, 06:58:05 PM
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Because, unlike the people in Soviet Union, people in America had a choice and a say in their debt, and are thus fully responsible for things like wanting a war in the Middle East and supporting politicians who pushed for it, or voting to approve local and state government projects.

Lol!  Yeah, of course.  I forgot we live in a democracy where we are the government and there fore simply owe it to ourselves, right?

Sure, as long as the 'owe' is the taxpayer and the 'ourselves' is the entire class of government parasites.  Under very rare circumstances is a actual net taxpayer also a beneficiary of government largess.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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July 27, 2011, 01:47:54 AM
 #6

You can repudiate the debt personally.  Leave the country and find one with less or no debt. 

myrkul
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July 27, 2011, 01:55:22 AM
 #7

You can repudiate the debt personally.  Leave the country and find one with less or no debt. 

Heh. You're funny.Tell another one.

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July 27, 2011, 02:53:07 AM
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haha, I imagine that repudiating the debt would piss a lot of people off. Funny... but probably not a good thing. Kind of like Texas seceding

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July 27, 2011, 03:04:24 AM
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You can repudiate the debt personally.  Leave the country and find one with less or no debt. 


Cheesy

"We will not find a solution to political problems in cryptography, but we can win a major battle in the arms race and gain a new territory of freedom for several years.

Governments are good at cutting off the heads of a centrally controlled networks, but pure P2P networks are holding their own."
Fakeman
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July 27, 2011, 04:15:37 AM
 #10

If you're leaving the US for this purpose, don't forget to renounce your citizenship too.

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MoonShadow
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July 27, 2011, 04:18:20 AM
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If you're leaving the US for this purpose, don't forget to renounce your citizenship too.

That's actually pretty hard to do.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
MoonShadow
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July 27, 2011, 04:20:23 AM
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haha, I imagine that repudiating the debt would piss a lot of people off. Funny... but probably not a good thing. Kind of like Texas seceding

Like anything else, whether the repudiation of the debt is a good or bad thing depends upon who you are just as whether the secession of the Republic of Texas is good or bad depending mostly upon which side of the Texas border one happens to live on.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
myrkul
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July 27, 2011, 04:33:07 AM
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If you're leaving the US for this purpose, don't forget to renounce your citizenship too.

That's actually pretty hard to do.

Mike Gogulski, who's on here somewhere, did just that. He's now Stateless. He detailed it on his blog, and yeah, it was not fun.

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GideonGono
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July 27, 2011, 12:21:30 PM
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If you're leaving the US for this purpose, don't forget to renounce your citizenship too.

That's actually pretty hard to do.

Mike Gogulski, who's on here somewhere, did just that. He's now Stateless. He detailed it on his blog, and yeah, it was not fun.

What happened to him? Where does he live?

myrkul
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July 27, 2011, 04:42:12 PM
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If you're leaving the US for this purpose, don't forget to renounce your citizenship too.

That's actually pretty hard to do.

Mike Gogulski, who's on here somewhere, did just that. He's now Stateless. He detailed it on his blog, and yeah, it was not fun.

What happened to him? Where does he live?

He's doing quite well for himself, here's his blog: http://www.nostate.com/

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July 28, 2011, 02:23:58 AM
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Global Jubilee?
GideonGono
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July 28, 2011, 10:37:13 AM
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He's doing quite well for himself, here's his blog: http://www.nostate.com/

I've been to that site before but i never bothered to read about the guys story. Damn, that guy has mad balls.

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July 28, 2011, 12:55:41 PM
 #18

The US debt is about $14 trillion of which about $11 trillion is owed to US citizens. 

I can't see anyone who hopes to be re-elected refusing to repay that money. 


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July 28, 2011, 01:48:12 PM
 #19

The US debt is about $14 trillion of which about $11 trillion is owed to US citizens. 

I can't see anyone who hopes to be re-elected refusing to repay that money. 



The vast majority of that $11 Trillion that is "owed" to US citizens is owed to Baby Boomers.  When the Millinials grow up, they will be a larger voting block than the Boomers; but before then there will be a point that we cross paths, as the Boomers die off and Millinials reach 18 years there will come a point that the votes are in balance.  It's this point that those who hope to get (re)elected will be pandering to the Millinal generation.  And if there is one thing that is consistant about that generation, they identify much more with their age peers than their grandparents.  Once one guy gets elected with a platform that can be boiled down to "screw the old, I want mine" then it's all just a matter of time.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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July 28, 2011, 02:30:39 PM
 #20

The US debt is about $14 trillion of which about $11 trillion is owed to US citizens. 

I can't see anyone who hopes to be re-elected refusing to repay that money. 



The vast majority of that $11 Trillion that is "owed" to US citizens is owed to Baby Boomers.  When the Millinials grow up, they will be a larger voting block than the Boomers; but before then there will be a point that we cross paths, as the Boomers die off and Millinials reach 18 years there will come a point that the votes are in balance.  It's this point that those who hope to get (re)elected will be pandering to the Millinal generation.  And if there is one thing that is consistant about that generation, they identify much more with their age peers than their grandparents.  Once one guy gets elected with a platform that can be boiled down to "screw the old, I want mine" then it's all just a matter of time.

Very true.  But "Vote for me and I'll help you steal your Granny's savings!" is hardly an election winner is it ?  Its far more likely that inflation will erode the debt in a slow but sure manner. 

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