Quote:
Originally Posted by mikey_the_redneck
How our government officials came to the conclusion that it is better to privatize debt is beyond me.....maybe the right people were handing them some cash under the table to change legislation and turn a blind eye.
If our government lends itself money, interest payments would not be necessary.
Zimbabwe is a poor example imo. The same German company that prints their dollars prints ours by the way, and dont forget that Zimbabwe has very little oversight, as it is under the control of a dictator who is not accountable to anyone, so severe abuse of the system takes place.
Most founding political figures spoke heavily of the importance of the issuance of currency, including Lincoln, Washington, Franklin, Jackson and a host of others....and if you let it get into private hands things are bound to go bad...but those guys couldn't possibly more wise than our current leaders could they......  . |
You brought up Mackenzie King to prove your point and now you accuse him of being bought by the banks (as he was PM when we racked up our first significant privately held national debt during WWII, reaching a total of 14 Billion$, 161 Billion$ in today's equivalent). Though he's not a founding figure, he was a wise Prime Minister because Zimbabwe is a perfect example of what happens to a country when they do what you propose.
They renounced their external debt (the same as transferring it to a national bank) and instantly it cost them 1000x more to buy a barrel of oil or a tonne of steel or a can of Coke, causing a cascade of hyperinflation. Mugabe further tanked his economy but tanking economies alone don't account for the fact that at it was his debt actions that caused his currency to devalue (in 3 years) to 1/10,000,000,000,000,000,000,000,000th of what it was before he took his currency actions.
Fortunately, our economy is managed on a macro scale by bankers and economists rather than NWO banking cabal conspiracy websites that quote appeals to authority in the form of out of context quotes of Founding Figures.