Skip to main content

View Diary: Balanced Budget for all Years is Incredibly Stupid (11 comments)

Comment Preferences

  •  When one considers that every dollar is (1+ / 0-)
    Recommended by:

    nothing but a certified IOU, it really isn't possible to be debt free, unless we go back to stealing what we need.

    Now, Gore may well have been opposed to the Treasury taking back dollars and holding them for people to use later while paying them a premium on top of the security service.
    It was, after all, rather scandalous that the Treasury was issuing thrity year bonds in 1991 with a guaranteed dividend of 8.1%.
    If that's what people got for doing nothing but taking their inherited dollars and sitting back, where was the incentive to start an enterprise, expand an industry or develop new products? It's no wonder corporate America converted real assets into cash and then bought Treasury bonds on which they owe no tax. And, whatever the Treasury wouldn't soak up, they gambled in the casinos on Wall Street to gratify the financial engineers and number crunching guys.
    Our economy went virtual -- nothing real. Go to any major city and see the skeletal remains reflected in the rain puddles on asphalt parking lots.
    I used to say it would have been kinder to bomb the South Bronx to smithereens, instead of letting it deteriorate over four decades. I foolishly thought that, like Germany after the War, the people would have been able to rebuild. I overlooked that, although Germany's currency was kaput, the Marshall plan poured in dollars in sufficient amounts to build everything back up and pay reparations to boot.

    First comes the currency; then comes the economy. How did the industrial revolution start? Spain stole the gold from the Americas and then the Dutch secured it in their vaults and issued notes to the Brits.

    We organize governments to deliver services and prevent abuse.

    by hannah on Sat Jan 19, 2013 at 08:39:45 AM PST

    [ Parent ]

    •  Hannah, you should change your tag line to (0+ / 0-)

      We organize governments to issue our currency ;)

      •  I'll think about it. (1+ / 0-)
        Recommended by:

        However, although not so long ago money was referred to as the "last taboo," our currency is getting more attention than all sorts of abuse. Abuse is the object of the money hoarders, those who would sequester the contents of the public purse, the aggressors against women and children and migrants, whether foreign or inter-state. Abuse is the essence of the deprivation of rights and, to our shame, not all abuse is considered a crime.
        I used to think that the appropriate venue for governmental entities are what, in some circles (though not in the online dictionary), are referred to as disutilities:


        The seven 'i's, which are mostly unintended. More recently, I've realized that there is a category of humans that actually delights in tormenting their fellow men, and women, etc. Some exploit because they don't know any better; but some exploit for the fun of it. Other people's distress makes them feel good (powerful). Those people need to be actively countered. They don't kill to eat like natural predators. They don't even kill. They torture. And the culture of obedience makes it legal under the rubric of sacrifice and discipline.
        Money is one of their tools, but there are others.

        We organize governments to deliver services and prevent abuse.

        by hannah on Sat Jan 19, 2013 at 11:04:36 AM PST

        [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site