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To: eyeamok

Great point! What you are saying is that the US is insolvent which means it does not have enough money to pay its debts and cannot reasonably assume that it will anytime soon.

It is illegal, not to mention immoral, to continue to incur new debts in a state of insolvency. If you or I did it on the scale that our government is doing it we would go to jail.

On the other hand there is a legal doctrine known as “constructive notice” which means even though you have not had legal notice you have received practical notice. You haven’t been told, but you know through simple observation and calculation, that the US is not good for it. In that case tuff shiite to the ones who keep fueling the fire and to those that are living in reliance on the promised welfare checks.


22 posted on 02/20/2012 10:44:01 AM PST by FreedomNotSafety
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To: FreedomNotSafety

I would also like to remind everyone that on August 15, 1971 President Richard Nixon formally recognized that the United States was Officially Bankrupt, that was the ONLY REASON for Closing the Gold Window and going to a 100% fiat currency. At the time we were at 10% Gold Reserves for our Paper Credits. We did not have the Gold and Silver to pay the Brits, we were on that day OFFICIALLY BANKRUPT and still are. During this receivership we have added Trillions in Debt while simultaneously STEALING the Wealth from every person through Direct Counterfeiting that some people call Inflation.


31 posted on 02/21/2012 5:34:02 AM PST by eyeamok
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