Important - ST Loius Federal Reserve - Country is Bankrupt

[thomaspaine23]

http://www.digg.com/business_finance/The_country_is_bankrupt


get the pdf while you can....

someone from the Fed validating Paul

 

[ihsv]

Don't fret. We have a friend in Washington!

 

[CareerTech1]

got it

i can repost it on my website if they take it down - let me know if need be

 

[susano]

Oh, boy, this official admition (if that's what it is, I didn't read the pdf.) needs to be part of a Ron Paul TV ad.

 

[mmink15]

Check the top of the pdf page:

originally published July 16 2006

If they were gonna pull this article wouldn't they have already done it?

 

[AFTFNJ]

EDne

 

[RobHino]

Not so good though...

"The paper offers three policies to eliminate the nation’s enormous fiscal gap and avert bankruptcy: a retail sales tax, personalized Social Security, and a globally budgeted universal healthcare system."

Did I just read that correctly?

 

[slantedview]

pssssssh, who wrote that, the democratic party? universal healthcare will HELP our debt? such nonsense.

 

[thomaspaine23]

pssssssh, who wrote that, the democratic party? universal healthcare will HELP our debt? such nonsense.

Yeah, he has some wacked "answers" but the initial info is good:

The Gokhale and Smetters measure of the
fiscal gap is a stunning $65.9 trillion! This figure
is more than five times U.S. GDP and almost twice
the size of national wealth. One way to wrap one’s
head around $65.9 trillion is to ask what fiscal
adjustments are needed to eliminate this red hole.
The answers are terrifying. One solution is an
immediate and permanent doubling of personal
and corporate income taxes. Another is an immediate
and permanent two-thirds cut in Social
Security and Medicare benefits. A third alternative,
were it feasible, would be to immediately
and permanently cut all federal discretionary
spending by 143 percent.


It's just amusing that it was put out by the federal reserve.

 

[romelll]

Same gent that wrote that is also a big proponent of the Fair Tax instead of the current tax code.

http://people.bu.edu/kotlikof/

Which is better then the current code but not as great as no taxes.

 

[jereome]

Ron Paul needs to jump on this big time.

Also stress the fact that our national parks have been sold out to the U.N.

Our ports are controlled by Dubai and Communist China.

How the Texas roads are going to toal roads and the contract will be owned by a Spanish company owned by Prince Carlos of Spain.

How the majority of American companies are going overseas and the ones that are here are being bought out by foreign companies.

etc...

scare the sheeple into making the right choice.

 

[NeoRayden]

How about a "Real" Flat Tax? One that is a simple 10% period for essential constitutional services only. No matter what that 10% would be converted to a dollar amount based on the population. Hmmmmm... maybe that's a proportional tax. Hmmmm.... that might just be constitutional!

 

[tsetsefly]

this is what we need to be using in our favor, and point out no candiddate but Paul offers to drastically reduce spending...

 

[AceNZ]

Did you read the recommendations made by the author of the original paper?

http://research.stlouisfed.org/publications/review/06/07/Kotlikoff.pdf

He's a socialist idiot. His plan is a recipe for a bigger disaster, not a cure.

 

[Staupostek]

Since this paper lends credence to Dr. Paul's arguments about the mess we are in, it will never make it to a front page or top story at any major media outlet in this country.

 

[Iwantchange]

I read through this and this is scary as hell...

 

[AceNZ]

This is really nothing new. The US Government essentially declared bankruptcy in all but name in 1971 when it backed out of the Bretton Woods agreement (refusing to continue to exchange dollars for gold on the international market, because it was no longer possible).

The economy has been kept alive mainly as a result of continued international demand for the dollar, driven by the fact that the purchase of oil requires dollars. Hence the real reason for the war in Iraq and the threats against Iran (their switch away from the dollar).

For more scary reading, here's a link to a great article:

http://www.energybulletin.net/12125.html

 

[Mark]

This need to go VIRAL.

 

[Mark]

This is really nothing new. The US Government essentially declared bankruptcy in all but name in 1971 when it backed out of the Bretton Woods agreement (refusing to continue to exchange dollars for gold on the international market, because it was no longer possible).

The economy has been kept alive mainly as a result of continued international demand for the dollar, driven by the fact that the purchase of oil requires dollars. Hence the real reason for the war in Iraq and the threats against Iran (their switch away from the dollar).

For more scary reading, here's a link to a great article:

http://www.energybulletin.net/12125.html

Saddam Hussein wanting to trade oil in Euros and not dollars is why the Bush Oil Cartel REALLY attacked Iraq.

And why they want to attack Iran.

~~~~

The Iraq War is About the Dollar

http://www.youtube.com/watch?v=QVqkKN3HJJ0

 

[ButchHowdy]

I wonder what's up with DIGG'S disclaimer at the top of this article?