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AsteroidX

US DEbt Limit Raised

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Like anybody expected a different outcome...

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those who owe tax's will wait till april 15th @ 11:59 and 59 seconds .... those who get a refund will apply three weeks ago ...

the goverment ran out of money 15 years ago ... so credit is all they have , and they have checks that need to get in the mail ...

the question is not if the trust in their money is going to run out... the question is when will people stop trusting in the money ....

those in the zero sum game will not be happy campers , those in the free market will be just fine .

the real question is will it go quietly , or will it get messy ...

i suspect they will pull it off again .

if its going to pop , it will be on or before april 15th ....

if it does pop , keep news paper inserts for the realitive prices of items to each other ....

common currency are bullets... 2 '3o.o6' = one standard loaf of white bread .

1ooo '3o.o6' bullets = one ounce of gold

two ounces of gold = one pound of silver

one ounce of gold = one men's fine suite of cloths

history repeats itself , and goverments never learn to get smaller... that is just a thing no goverment has ever done .

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its called a bullet proof economy for a reason

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those who owe tax's will wait till april 15th @ 11:59 and 59 seconds .... those who get a refund will apply three weeks ago ...

the goverment ran out of money 15 years ago ... so credit is all they have , and they have checks that need to get in the mail ...

the question is not if the trust in their money is going to run out... the question is when will people stop trusting in the money ....

those in the zero sum game will not be happy campers , those in the free market will be just fine .

the real question is will it go quietly , or will it get messy ...

i suspect they will pull it off again .

if its going to pop , it will be on or before april 15th ....

if it does pop , keep news paper inserts for the realitive prices of items to each other ....

common currency are bullets... 2 '3o.o6' = one standard loaf of white bread .

1ooo '3o.o6' bullets = one ounce of gold

two ounces of gold = one pound of silver

one ounce of gold = one men's fine suite of cloths

history repeats itself , and goverments never learn to get smaller... that is just a thing no goverment has ever done .

Only the very dumb will give you anything for gold because once the economy crashes gold is also worthless. They will rather take a dozen of eggs instead of an ounce of gold.

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Someone please tell me why they collect taxes anyway. Why don't they just print whatever amount of money the economy needs (I know they have measures for this) and pay for government programs by printing extra money. That way they don't need to collect taxes nor to borrow money. :clap: :clap:

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They actually do both.

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Well, yes, so why do they bother with taxes. Actually I can see the point of borrowing -- it makes jobs for bond brokers, but who wants to make jobs for tax collectors?

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I dont know it started as this:

The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;

then this in 1913

The Sixteenth Amendment (Amendment XVI) to the United States Constitution allows the Congress to levy an income tax without apportioning it among the states or basing it on Census results. This amendment exempted income taxes from the constitutional requirements regarding direct taxes, after income taxes on rents, dividends, and interest were ruled to be direct taxes in Pollock v. Farmers' Loan & Trust Co. (1895). It was ratified on February 3, 1913.

and evolved into what we have today which I dont understand one bit. Its ludicrous and ineffective.

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So they do it because the Constitution says they can?

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I suppose thats why they do it. They have to keep alot of things running so theres a bit of justification for some taxation. But theres many many dollars that dissapear or are wasted on really dumb things.

This is what the people originally thought of taxation without representation.

http://www.ttb.gov/p...rebellion.shtml

Originally all taxes were to be paid by tarrifs on imported goods.

Edited by AsteroidX

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They got there taxes so the rest can wait.

You are taxed on every paycheck. And did you actually read what a debt limit is " Experts say that will allow the government to borrow about $450 billion to meet interest payments and other obligations."

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Only the very dumb will give you anything for gold because once the economy crashes gold is also worthless. They will rather take a dozen of eggs instead of an ounce of gold.

No. That is incorrect.

A medium of exchange would still be in the best interest of any individual engaging in a post crash market to avoid the inconveniences of a pure barter system.

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You are taxed on every paycheck. And did you actually read what a debt limit is " Experts say that will allow the government to borrow about $450 billion to meet interest payments and other obligations."

Do I care they are unwilling to make there financial obligations without making the necessary cuts in Big Gov to be fiscally responsible. Yerp.

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Problem is, the money is diverted from the original intent to other things that is either pocketed or used on objects not even related to the subject at hand. Politicians keep using a slight of hand, to divert money to other things that we really don't need to be spending money on. This is what you get with greed rampant and politicians trying to buy votes, instead of actually using money management skills to improve the economy. I think they should be judged on real long term accomplishments instead of short term bandages that doesn't fix anything.

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Only the very dumb will give you anything for gold because once the economy crashes gold is also worthless. They will rather take a dozen of eggs instead of an ounce of gold.

Not true, Gold has a use and a value that can be trusted. That's the key to having an object based currency. If you no longer trust the person holding it the money is now worthless and that government cannot buy anything. That's why they froze the gold then got rid of the standard. We could make the government stop spending by making our money worthless then backing up somebody we can trust to manage that money. Now we can't stop and now our government won't stop being irresponsible. Coincidence I think not.

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You shall know them by their deeds

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No. That is incorrect.

A medium of exchange would still be in the best interest of any individual engaging in a post crash market to avoid the inconveniences of a pure barter system.

Unless you happen to have 8,200,350,000 gold coins tucked under your mattress - which is the amount of US coins minted in 2011 (let alone bills) - then I expect there's a decent chance that Americans may stick with US currency for that.

Given that they generally have some to start with, and all.

Edited by Tiggs

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Only the very dumb will give you anything for gold because once the economy crashes gold is also worthless. They will rather take a dozen of eggs instead of an ounce of gold.

I have to agree with Q here and im talking absolute collapse,the one that since tieing the world together will have an impact on all and everything.Food,water,and yes even lead will be worth more than gold to most.Only the ones who still have money will be worrying about gold the vast majority will care less.I am glad i have taken time out of my life to learn to grow food,fish,hunt and take care of myself no matter the situation.Honestly though those are things i just enjoy doing,but when survival is needed and necessary i will be ok to the best of my ability.

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The worlds' economies are not going to collapse, and anyone who basis their decisions on such a scenario is only going to lose money.

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The worlds' economies are not going to collapse, and anyone who basis their decisions on such a scenario is only going to lose money.

Not saying they are going to frank,with the world all tied together it is a realistic possibilty at some point in time.Hopefully and i do not think in ours though.I wont lose money i am one of the only people i know who owes nothing to no one,except my taxes haha

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I have to agree with Q here and im talking absolute collapse,the one that since tieing the world together will have an impact on all and everything.Food,water,and yes even lead will be worth more than gold to most.Only the ones who still have money will be worrying about gold the vast majority will care less.I am glad i have taken time out of my life to learn to grow food,fish,hunt and take care of myself no matter the situation.Honestly though those are things i just enjoy doing,but when survival is needed and necessary i will be ok to the best of my ability.

That is why gold is one of the best standards. Last thing we need is greedy men hording food. They know how to make gold profitable. Let them. In that skill we all would benefit. They would have to come to us for food, and for the things we create. Which is how we build trust. You can't hate a person for being good at his job, just the ones who didn't earn that spot.

Edited by Jinxdom
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We had the economy collapse and the central banks stepped in and stopped it.

I have to wonder what sort of scenario could happen where they couldn't do the same thing again.

I also have to wonder what exactly such a collapse would mean -- a 1930s style depression? If so the world would recover, probably after a good deal of civil unrest but civilization would persist.

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The worlds' economies are not going to collapse, and anyone who basis their decisions on such a scenario is only going to lose money.

If your life is not ruled by money you no longer care about the worlds economy except the chaos it would cause to those that were not prepared and the impact those people will have on those of us that saw it coming. I can separate the 2 possibilities as my life is not ruled by money and as long as my garden grows and my beehive survives I am in a good place to stay alive and not have my lifestyle changed by such an event.

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Gold is fine to have as a portion of one's portfolio, but remember that it is easy to confiscate.

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