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To: ClearCase_guy

Close. Geithner is recommending abolishing the debt limit altogether.


13 posted on 11/27/2012 7:53:42 PM PST by garbanzo (It's the end of the world as we know it and I feel fine)
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To: garbanzo
And I recommend abolishing debts altogether.

The notional derivatives debt is over $600T.

It's silly. These debts cannot be paid. You can raise taxes. You can confiscate wealth. You can inflate the currency. But you'll never pay off a $600T debt.

Solution -- Jubilee. Cancel all the debts. Tell the creditors that they played a good game, but they pushed it too far and broke the bank. Now we all owe nothing, and we start over.

Yeah -- that would really hurt and cause all kinds of trouble. And sticking with $600T debt won't hurt?

14 posted on 11/27/2012 8:00:28 PM PST by ClearCase_guy (Global Warming is a religion, and I don't want to be taxed to pay for a faith that is not mine.)
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