[andyt]

Kirk wrote:

So people and countries live beyond their means.......but who lends to them....and where does the money go when paid back......and why haven't they asked for quicker payment before now....like 20 years ago?

Banks lend them, in western countries. In Japan, for instance, most debt is held within the country, likely by millions of people who invested in bonds etc, as well as Japanese banks. So in some ways, even tho they are highly indebted, they could just take a "haircut" as a country and carry on.

China holds a lot of US debt, in the form of bonds, I believe. If the US defaults, China or anybody else won't buy their bonds and the US will have no way to finance it's operations. China would also take a big hit.

When paid back the money goes to the lenders. They keep getting paid back and re-lending, because they think it's a good investment to lend to a country.

Ultimately the question is where does money come from in the first place. I haven't been able to figure that out clearly, it seems to just be created out of thin air.

This is my simplistic understanding of national debt. This is where Lemmy could jump in and maybe enlighten us.

[Kirk]

A 122 nation lawsuit is in the works......answers to come.

http://divinecosmos.com/start-here/davi ... al-tyranny

"Since 1913, the currency of the United States has been owned and managed by a private corporation of international bankers known as the "Federal Reserve System."

This group prints "Federal Reserve Notes" and loans them out to the United States Treasury. American taxpayers then pay interest to the Federal Reserve banking families for the rights to use their money."

The Federal Reserve banking families can therefore print as much money as they want -- and give it to whomever they want, secretly, with no oversight or input from the United States government.

In this clip, former Federal Reserve chairman Alan Greenspan admits that the Federal Reserve is an independent agency whose decisions cannot be overruled by any element of the legitimate United States government.

[martin14]

hmmmm, time to get the tinfoil out............

[Brenda]

Kirk wrote:

A 122 nation lawsuit is in the works......answers to come.

Copy/paste a list of these countries, please? And, where are they filing? The Hague?

[CDN_PATRIOT]

martin14 wrote:

hmmmm, time to get the tinfoil out............

Attachment:

tin-foil-hat.jpg [ 32.9 KiB | Viewed 142 times ]

-J.

[Kirk]

And 50% of conspiracys turn out to be true and make the non-believers look tinfoilish eventually.

Just sayin.

[raydan]

Kirk wrote:

And 50% of conspiracys turn out to be true and make the non-believers look tinfoilish eventually.

Just sayin.

I think that fact is just another conspiracy.


...and please, learn how to pluralize conspiracy. You could look at the general plural form of words ending in "y".

[Kirk]

no........

[raydan]

No what?

[Brenda]

raydan wrote:

No what?

No shit, Sherlock

[BartSimpson]

andyt wrote:

It's not countries that Greece owes money to, but banks.

And the shareholders and depositors of the banks include pension funds and senior citizens who have their funds locked up in certificates of deposit.

So if Greece defaults then a lot of old people won't even be able to afford cat food for dinner.

But, yeah, mean old banks!

[BartSimpson]

martin14 wrote:

hmmmm, time to get the tinfoil out............

No, he has a point. It was just out last month or so that the Fed loaned out some $16 trillion with no approval whatsoever from Congress.

http://www.infowars.com/the-federal-res ... r-friends/

[Freakinoldguy]

Brenda wrote:

If you look at Greece, and their debt... Would you really expect every country Greece owes to forgive them their fuck up, so THEY can start over?

Let's take it a bit more personal. I owe you $25,000. Of course, making only $100/yr, that will be a problem to pay off. So you forgive me my debt, and I start over. You are out of $25,000, that you borrowed in the first place, and still have to pay off. Sounds fair!

Why not? The IMF has done it numerous times with Brazil, Argentina and numerous other Latin American Countries so what's so different about Greece?

Hell my guess is that we're still paying off those bad South American debts today with our banking charges.

[Proculation]

Freakinoldguy wrote:

Brenda wrote:

If you look at Greece, and their debt... Would you really expect every country Greece owes to forgive them their fuck up, so THEY can start over?

Let's take it a bit more personal. I owe you $25,000. Of course, making only $100/yr, that will be a problem to pay off. So you forgive me my debt, and I start over. You are out of $25,000, that you borrowed in the first place, and still have to pay off. Sounds fair!

Why not? The IMF has done it numerous times with Brazil, Argentina and numerous other Latin American Countries so what's so different about Greece?

Hell my guess is that we're still paying off those bad South American debts today with our banking charges.

Brazil and Argentina were countries with their own currency. That's not the case with Greece which is in the EU.