truthsupplier
13-02-2007, 05:04 PM
This was first posted to me in November of 2004... heed was not paid and where are we now?
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Your children will pay for your apathy...
http//www.theawaregroup.com
Congressman Ron Paul [R-TX] isn't just a member of the House of
Representatives. He's also an obstetrics/gynecology MD and has
delivered more than 4,000 babies. Dr. Paul is an expert on gold and
the monetary system and has written several books, Challenge to
Liberty; The Case for Gold and A Republic, If You Can Keep It.
Last week Congress voted to raise the national debt ceiling to $8.8
trillion dollars because there was no more money to run the
government. (search) Last month, Congressman Paul tried to warn the
American people about another hike in the debt ceiling, "...once again
Congress is poised to authorize an increase in government borrowing.
Between its ever-growing bureaucracies, expanding entitlements, and
overseas military entanglements, the federal government is borrowing
roughly one billion dollars every day to pay its bills."
As there is no money in the U.S. Treasury and since not one penny of
income tax paid to the IRS funds a single function of the federal
government, all expenditures must be borrowed from the privately owned
federal reserve, something Paul has exposed in the past:
"Strictly speaking, it probably is not necessary for the federal
government to tax anyone directly; it could simply print the money it
needs. However, that would be too bold a stroke, for it would then be
obvious to all what kind of counterfeiting operation the government is
running. The present system combining taxation and inflation is akin
to watering the milk: too much water and the people catch on."
Congressman Paul also doesn't have many good things to say about the
spending of his colleagues in Congress, "Government debt carries
absolutely no stigma for politicians in Washington. The original idea
behind the debt limit law was to shine a light on government spending,
by forcing lawmakers to vote publicly for debt increases. Over time,
however, the increases have become so commonplace that the media
scarcely reports them and there are no political consequences for
those who vote for more red ink. It's far more risky for politicians
to vote against special interest spending.
"Even supposed single-year surpluses never existed, but were merely an
accounting trick based on stealing IOUs from the imaginary Social
Security trust fund. Remember that the total federal debt continued
to rise rapidly even during the claimed surplus years. Since Congress
is incapable of spending only what the Treasury takes in, it must
borrow money. Unlike ordinary debts, however, government debts are
not repaid by those who spend the money they're repaid by you and
future generations."
One of the methods the federal government uses while robbing Peter to
pay Paul is done through what monetary experts warn will eventually
cause a complete collapse of our economy is the reliance on foreign
debt. "The federal government issues U.S. Treasury bonds to finance
its deficit spending. The largest holders of those Treasury notes
our largest creditors are foreign governments and foreign
individuals. Asian central banks and investors in particular,
especially China, have been happy to buy U.S. dollars over the past
decade. But foreign governments will not prop up our spending habits
forever. Already, Asian central banks are favoring Euro-denominated
assets over U.S. dollars, reflecting their belief that the American
economy is headed for trouble. It's akin to a credit-card company
cutting off a borrower who has exceeded his credit limit one too many
times," said Congressman Paul in one of his recent warnings.
He further warned that America's debt is a serious threat to America's
security, "Debt destroys U.S. sovereignty, because the American
economy now depends on the actions of foreign governments. While we
brag about our role as world superpower in international affairs, we
are in truth the world's greatest debtor. Like all debtors, we are
not truly free. China and other foreign government creditors could in
essence wage economic war against us simply by dumping their huge
holdings of U.S. dollars, driving the value of those dollars sharply
downward and severely damaging our economy."
Another economist from the American Enterprise Institute, Desmond
Lachman, has sounded the warning about foreign central banks and their
effect on the American economy, "Now have considerable ability to
disrupt U.S. financial markets by simply deciding to refrain from
buying further U.S. government paper." Lawrence Summers, former vice
president of development economics and chief economist of the World
Bank and former Treasury Secretary under Bill Clinton, has also
weighed in on this issue, "A kind of global balance of financial
terror," noting our dependency on "the discretionary acts of what are
inevitably political entities in other countries."
In his recent editorial, Congressman Paul finished up his attempt to
explain how dire the situation is by saying, "Ultimately, debt is
slavery. Every dollar the federal government borrows makes us less
secure as a nation, by making America beholden to interests outside
our borders. So when you hear a politician saying America will do
"whatever it takes" to fight terrorism or rebuild Iraq or end poverty
or provide health care for all, what they really mean is they are
willing to sink America even deeper into debt. We're told that
foreign wars and expanded entitlements will somehow make America more
secure, but insolvency is hardly the foundation for security. Only
when we stop trying to remake the world in our image, and reject the
entitlement state at home, will we begin to create a more secure
America that is not a financial slave to foreign creditors."
<><><><><><><><><><><><><><><><><><><><><><><><><><><><>
Your children will pay for your apathy...
http//www.theawaregroup.com
Congressman Ron Paul [R-TX] isn't just a member of the House of
Representatives. He's also an obstetrics/gynecology MD and has
delivered more than 4,000 babies. Dr. Paul is an expert on gold and
the monetary system and has written several books, Challenge to
Liberty; The Case for Gold and A Republic, If You Can Keep It.
Last week Congress voted to raise the national debt ceiling to $8.8
trillion dollars because there was no more money to run the
government. (search) Last month, Congressman Paul tried to warn the
American people about another hike in the debt ceiling, "...once again
Congress is poised to authorize an increase in government borrowing.
Between its ever-growing bureaucracies, expanding entitlements, and
overseas military entanglements, the federal government is borrowing
roughly one billion dollars every day to pay its bills."
As there is no money in the U.S. Treasury and since not one penny of
income tax paid to the IRS funds a single function of the federal
government, all expenditures must be borrowed from the privately owned
federal reserve, something Paul has exposed in the past:
"Strictly speaking, it probably is not necessary for the federal
government to tax anyone directly; it could simply print the money it
needs. However, that would be too bold a stroke, for it would then be
obvious to all what kind of counterfeiting operation the government is
running. The present system combining taxation and inflation is akin
to watering the milk: too much water and the people catch on."
Congressman Paul also doesn't have many good things to say about the
spending of his colleagues in Congress, "Government debt carries
absolutely no stigma for politicians in Washington. The original idea
behind the debt limit law was to shine a light on government spending,
by forcing lawmakers to vote publicly for debt increases. Over time,
however, the increases have become so commonplace that the media
scarcely reports them and there are no political consequences for
those who vote for more red ink. It's far more risky for politicians
to vote against special interest spending.
"Even supposed single-year surpluses never existed, but were merely an
accounting trick based on stealing IOUs from the imaginary Social
Security trust fund. Remember that the total federal debt continued
to rise rapidly even during the claimed surplus years. Since Congress
is incapable of spending only what the Treasury takes in, it must
borrow money. Unlike ordinary debts, however, government debts are
not repaid by those who spend the money they're repaid by you and
future generations."
One of the methods the federal government uses while robbing Peter to
pay Paul is done through what monetary experts warn will eventually
cause a complete collapse of our economy is the reliance on foreign
debt. "The federal government issues U.S. Treasury bonds to finance
its deficit spending. The largest holders of those Treasury notes
our largest creditors are foreign governments and foreign
individuals. Asian central banks and investors in particular,
especially China, have been happy to buy U.S. dollars over the past
decade. But foreign governments will not prop up our spending habits
forever. Already, Asian central banks are favoring Euro-denominated
assets over U.S. dollars, reflecting their belief that the American
economy is headed for trouble. It's akin to a credit-card company
cutting off a borrower who has exceeded his credit limit one too many
times," said Congressman Paul in one of his recent warnings.
He further warned that America's debt is a serious threat to America's
security, "Debt destroys U.S. sovereignty, because the American
economy now depends on the actions of foreign governments. While we
brag about our role as world superpower in international affairs, we
are in truth the world's greatest debtor. Like all debtors, we are
not truly free. China and other foreign government creditors could in
essence wage economic war against us simply by dumping their huge
holdings of U.S. dollars, driving the value of those dollars sharply
downward and severely damaging our economy."
Another economist from the American Enterprise Institute, Desmond
Lachman, has sounded the warning about foreign central banks and their
effect on the American economy, "Now have considerable ability to
disrupt U.S. financial markets by simply deciding to refrain from
buying further U.S. government paper." Lawrence Summers, former vice
president of development economics and chief economist of the World
Bank and former Treasury Secretary under Bill Clinton, has also
weighed in on this issue, "A kind of global balance of financial
terror," noting our dependency on "the discretionary acts of what are
inevitably political entities in other countries."
In his recent editorial, Congressman Paul finished up his attempt to
explain how dire the situation is by saying, "Ultimately, debt is
slavery. Every dollar the federal government borrows makes us less
secure as a nation, by making America beholden to interests outside
our borders. So when you hear a politician saying America will do
"whatever it takes" to fight terrorism or rebuild Iraq or end poverty
or provide health care for all, what they really mean is they are
willing to sink America even deeper into debt. We're told that
foreign wars and expanded entitlements will somehow make America more
secure, but insolvency is hardly the foundation for security. Only
when we stop trying to remake the world in our image, and reject the
entitlement state at home, will we begin to create a more secure
America that is not a financial slave to foreign creditors."