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Mon Dec 31, 2012, 02:19 AM

 

KILL THE EMPIRE

That is all

We kill the empire, we kill the budget monster

We leave the empire in place, we have a fucking albatross around our necks

6 replies, 642 views

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Response to Taverner (Original post)

Mon Dec 31, 2012, 02:29 AM

1. The Federal Reserve sets interest rates for financing both PRIVATE profits & PUBLIC financing

its own debt by means of bonds.

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Response to patrice (Reply #1)

Mon Dec 31, 2012, 02:30 AM

2. That is not the empire. Military bases in Scotland are the empire.

 

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Response to Taverner (Reply #2)

Mon Dec 31, 2012, 02:38 AM

3. That's how we finance the empire. The public good is held hostage by private profits. nt

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Response to patrice (Reply #3)

Mon Dec 31, 2012, 02:44 AM

4. The Fed is a distraction

 

More goes on in boardrooms across the world then ever goes on in the fed

More goes on in McDonnell-Douglass and General Dynamics offices than goes on at the finance layer

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Response to Taverner (Reply #4)

Mon Dec 31, 2012, 03:02 AM

5. The financing that all of those corporations use is controled by the Fed, which has a

strangle hold on public debt by setting interest rates on bonds, so what the public can "afford" is a factor of how well those markets in private financial instruments, such as derivatives, goes and all of that added up to the bailouts we have seen.

If we/the public set the interest rates on our own bonds, especially since the public is the single biggest financier of our own debt, there would be more of a direct relationship between spending & financing, so we could do more of what we want, less dependent upon what happens in those boardrooms.

One of the other creepy things about all of this is the fact that 1. legislation to implement various policies is passed; 2. then they vote on it again in appropriations (giving, as you probably already know, any single representative or senator opportunities to be both for and against the same policy) and then, 3. beginning last year, they started voting on the deficit cap, in effect, whether they are going to fund what they ALREADY decided they were going to spend. Talk about opportunities for corporate lobbyists to profit from public debt, Wow! just fucking Wow.

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Response to Taverner (Original post)

Mon Dec 31, 2012, 03:10 AM

6. I agree with your post in another thread...

you've had a bad day.

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