Is Amercia Broke?

[Loz]

Let me guess... Washington is saying, "When is this 'capitalism is dying' rubbish ever gonna end? I can't believe the crap some people write."?

[StraferJack]

careful loz - NN will accuse you of being "rude"

[New Nexus]

Capitalism requires capital, we have a fractional lending reserves system.

Private banks that print money - then lend it to government at interest, this money comes in to existence and takes value from the money that already exist, hence inflation.

Who knows what damage QE3 is now doing.

For reference: Steve Keen Associate Professor of Economics

[Loz]

You do realise that inflation is not, in itself, necessarily a bad thing?

QE3 will just lower the value of the USD - that will have (it is hoped) a positive impact on the US economy in that its exports will now be more attractive to buyers.

I have a feeling that you would bemoan whatever action they took, as what you really, really want in the collapse of the system. In other words, the original post you made in the "Request for comment: Collapse of the U. S. A." thread was not a prediction.

It was your fervent hope.

[Jeremy]

New Nexus Wrote:

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> Private banks that print money

How does the work, then?

[New Nexus]

please see the last part of this vid, Bank of England works the same way

http://www.youtube.com/watch?v=NT-2fenmLnc

[New Nexus]

Just some interesting factoids regarding Broken America

Donald Rumsfeld admitted to $2.3 trillion missing on September 10, 2001 (the day before 9/11)

September, 11, 2001

World Trade Centre - North and South tower collapse, then a third building collapses building 7 this was much later in the day, the BBC knew of the collapse before it had occurred, about 20 minutes before. I know the BBC are good, but I didn?t know they had psychic ability.

Building 7 housed the security and exchange commission, that at the time was investigating approximately 2000 cases of insider trading, now all dropped as evidence was destroyed in collapse.

I am sorry to say that Americans have lost control of America.

[Huguenot]

As a newbie to the forum NN, you probably won't be aware of the extensive discussions we've already had on the strengths and weaknesses of fractional reserve banking.

It's possible that you've only just discovered it, that you've read a poor selection of commentaries on it, an extreme set of predictions and are genuinely scared of your life.

Your 'forecasts' can't be proven wrong, because they're one set of extreme outcomes that could be derived from an extraodinary set of extreme coincidences.

The fact is though that the likelihood of your extreme outcome is about as likely as Yellowstone going supervolcano next week, or London getting hit by a 12 km cheese asteroid bearing the name 'Chuckles' on it's side.

In fact the medium term outlook is that US based QE would slowly lead through inflation to a deterioration of the buying power of the US on the world markets (and consequent drop in US living standards) that would coincide with the rise of Asia in line with their populations.

It'll be all very gradual, nothing very scary - and we would be wiser to address the energy crisis and climate change thean copying and pasting demented US teenage panic-fests.

[Loz]

New Nexus Wrote:

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> please see the last part of this vid, Bank of

> England works the same way

>

> http://www.youtube.com/watch?v=NT-2fenmLnc

That is just a fairly factual depiction of the fractional reserve banking, with added 'rather concerned' voiceover and s slightly scary soundtrack.

to fractional reserve banking. It comes from a longer vid called 'Money as Debt' which goes on to explain that, not only do banks create money out of debt, but also remove that money from the system on payment of that debt. It's not all one-way creation, you know?

[New Nexus]

"Give me control of a nation's money and I care not who makes the laws."

Mayer Amschel Rothschild

[Huguenot]

Stop it now NN, you're just copying and pasting silly stuff.

There's no chance of banning money - it's just a means to lubricate the exchange of goods and services.

You can't go running around wailing and screaming about monsters under your bed any more, you're a grown adult.

You need to calm down.

[Loz]

"Give me a place to stand on, and I will move the Earth."

- Archimedes on levers

[New Nexus]

Huguenot Wrote:

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> Stop it now NN, you're just copying and pasting

> silly stuff.

>

> There's no chance of banning money - it's just a

> means to lubricate the exchange of goods and

> services.

>

> You can't go running around wailing and screaming

> about monsters under your bed any more, you're a

> grown adult.

>

> You need to calm down.

I think you got me wrong, I am all for money and lots of it. I think the system that is coming will deprive me of the value of my money. I am speaking of course of the (SDR)

[Huguenot]

There's nothing wrong with the SDR, nor is it new.

It's not recent, it's from 1969. It's a system that allows governments to borrow from each other rather than banks.

Americans think borrowing from banks is capitalism, and borrowing from your neighbour is communism. Hence if you read US teenage screamers (which you have been doing, and copying and pasting from them) they keep going on about it as if it's the anti-christ.

The Chinese and the Russians are not out to get you. They need markets for their own products, and they need to import resources. They have no interest in collapsing the global economy.

[New Nexus]

Huguenot Wrote:

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> There's nothing wrong with the SDR, nor is it

> new.

>

> It's not recent, it's from 1969. It's a system

> that allows governments to borrow from each other

> rather than banks.

>

> Americans think borrowing from banks is

> capitalism, and borrowing from your neighbour is

> communism. Hence if you read US teenage screamers

> (which you have been doing, and copying and

> pasting from them) they keep going on about it as

> if it's the anti-christ.

>

> The Chinese and the Russians are not out to get

> you. They need markets for their own products, and

> they need to import resources. They have no

> interest in collapsing the global economy.

Just like the British had no interest in collapsing china?s economy, starting in 1839, this was not the British intention but it was the outcome.

[Huguenot]

The events and context are entirely unrelated NN.

That is such a ridiculous example I really can't be bothered to talk about it.

I can only assure you that you don't have any legendary insight into this situation, and I suspect very little understanding of the dynamics at all. You've been listening to too many panic stricken teenage American boys scared of reds under the beds, and you quote them as if they were intellectual giants.

Your doom laden pronouncements can only be proportioned by putting them in context, something that you resolutely refuse to do.

[New Nexus]

Huguenot Wrote:

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> The events and context are entirely unrelated NN.

>

> That is such a ridiculous example I really can't

> be bothered to talk about it.

>

> I can only assure you that you don't have any

> legendary insight into this situation, and I

> suspect very little understanding of the dynamics

> at all. You've been listening to too many panic

> stricken teenage American boys scared of reds

> under the beds, and you quote them as if they were

> intellectual giants.

>

> Your doom laden pronouncements can only be

> proportioned by putting them in context, something

> that you resolutely refuse to do.

Yes the context and concept of economic are different, your right about that, however human nature has not changed in 172 years.

We all know wars are pointless in themselves, yet we go on making them. Banks get richer by funding both side, arms dealers and economies get rich by supplying them and Haliburton gets the cleanup job.

"Those Who Forget History Are Doomed to Repeat It"

Sorry I know you don?t like paste jobs.

I am really not an end of the world doomsayer.

I do think the world economy has mortgage itself to far in to the future.

If the banking system and Gordon brown?s shadow banking system opened the books to a proper audit, it would be clear that a debt jubilee is needed.

[Huguenot]

As has always been the case, and yet there's always a tomorrow.

[Loz]

New Nexus Wrote:

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> Just like the British had no interest in collapsing china?s economy, starting in 1839, this

> was not the British intention but it was the outcome.

The Opium Wars? It may have fundamentally changed China's economy in the longer term, perhaps, but 'collapsed'?

And if you mean short term, I would say it *was* the intention. Wars are like that.

[New Nexus]

Loz Wrote:

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> New Nexus Wrote:

> --------------------------------------------------

> -----

> > Just like the British had no interest in

> collapsing china?s economy, starting in 1839,

> this

> > was not the British intention but it was the

> outcome.

>

> The Opium Wars? It may have fundamentally

> changed China's economy in the longer term,

> perhaps, but 'collapsed'?

>

> And if you mean short term, I would say it *was*

> the intention. Wars are like that.

Rule Britannia,

It was empire building what, what, when Britten was the biggest drug-dealer in the world, and one of the biggest pimps, selling human flesh it didn?t really own.

The more things change the more they stay the same.

[Loz]

Britain? Empire building? In the middle of the 19th century? You don't say! :))

But you'd have a harder time convincing me that was still the case today. I think you are overcooking your argument somewhat.

[New Nexus]

Loz Wrote:

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>

> But you'd have a harder time convincing me that

> was still the case today.

Where do you think Wachovia and Wells Fargo & Co (WFC) got the idea to launder $378.4 billion Mexican drugs money into U.S. to support the economy during the 2008 crisis.

Apples do not fall far from the tree.

[StraferJack]

fuck me, we are never far from a cliche in a NN sentence are we?

[New Nexus]

StraferJack Wrote:

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> @#$%& me, we are never far from a cliche in a NN

> sentence are we?

It would appear we are not very far from a ?@#$%& me? in one your opening comments, must get very sore all that ?@#$%&?

[Jeremy]

I still think you are quids.