Rep. Ron Paul: America ‘Should Declare Bankruptcy’

[Ares]

America’s national debt is paramount among the concerns of American voters heading into 2012, and while a huge problem, Rep. Ron Paul debuted a quick fix for reducing the debt by at least $1.6 trillion in one shot. Chatting with Iowa radio host Jan Mickelson yesterday, Rep. Paul recommended the U.S. “declare bankruptcy” and reduce the national debt by dismantling the Federal Reserve, to which we owe upwards of a trillion dollars.

Discussing the problems Greece is currently seeing in their economy, Rep. Paul told Mickelson that America’s per capita debt was not that far off from Greece’s and that America should take note of the protests going on there over the elimination of social programs. He noted that he believed the best option for the nation would be to declare bankruptcy. Given the previous analogy to the United States, Mickelson also asked if he believed America should also go bankrupt, to which Rep. Paul replied, “absolutely” (CNN notes: “Of course, sovereign nations can’t declare bankruptcy the same way a corporation might. Instead, the government would be unable to fulfill its obligations, and would stop making payments on its debt, resulting in a default”).

Mickelson then asked what that would possibly look like, to which Rep. Paul replied that it would be a default, but “the default is happening constantly” without a bankruptcy, anyway. The path on which America is now, according to Rep. Paul, is “the destruction of the currency,” which results in “true chaos,” preventable only by lowering the debt. How does Rep. Paul propose to do that?

I know this is pretty strange for people to even think about this, but we owe like $1.6 trillion because the Federal Reserve bought that debt… They’re nobody, why do we have to pay them off? Why don’t we take away from them and reduce the debt by 1.5 trillion dollars? …We don’t owe that to anybody… They printed the money out of thin air.

Ignoring the Federal Reserve’s existence is probably not the best way to win the coveted “Members of the Federal Reserve” vote, but it’s precisely the red meat Rep. Paul’s fans love the most.

http://www.mediaite.com/tv/rep-ron-paul-america-should-declare-bankruptcy/

[midnight rambler]

Now watch as the Fed's whores in the media pull out all the stops to attack him, and anyone who supports him will be called a nutcase.

[palani]

Should the present "system" be taken down precisely what system would replace it? One that operates just like the system presently operates? People don't think rationally because they are taught no logic or how to think. At this instant if you place Harry Potter on the ballet he would win hands down and he is not even real.

[midnight rambler]

Should the present "system" be taken down precisely what system would replace it?

Uh...one based on substance and without usury, as called for by law in the Constitution?

Are you suggesting the 'cure' to be worse than the dis-ease?

BTW, that statement of yours is exactly what insider whore Herman Cain has been saying.


But thou shalt have a perfect and just weight, a perfect and just measure shalt thou have

^^ That's the law.

[letter_factory]

Just curious, but let's say the current system does go down. Boom. Game over. No more credit, no more fiat, no more fancy financial schemes. so what do all these people do? Do these wall street bankers magically turn into farmers that magically grow food on their mcmansions, enough to feed everyone through drought, harsh winters, animal and insect attacks? Do all americans magically start paying for internet by mailing gold and silver in envelopes?

[palani]

Uh...one based on substance and without usury, as called for by law in the Constitution?
You already HAVE that system. It is in place and all you have to do is FOLLOW it. The 14th amendment says you cannot question the national debt AS LONG AS YOU ARE A BENEFICIARY OF THE 14TH AMENDMENT. Bankruptcy is certainly questioning the national debt and itself is unconstitutional under the 14th.


Are you suggesting the 'cure' to be worse than the dis-ease? I am suggesting when children are awakened in the middle of a nightmare their response is generally to leave the lights on. Lights on/lights off makes no difference at all to the recurrence of the nightmare.


BTW, that statement of yours is exactly what insider whore Herman Cain has been saying. Don't know the gentlemen. Do know that problems are created, they are identified and solutions crafted .... and if you put this process into capsule form I don't believe I would care to swallow it whole and without questioning.

You have the remedy already. Why go for another dream?

[midnight rambler]

their mcmansions

Those assholes don't have mcmansions, they have estates and private islands. To them, a 'mcmansion' is a quaint little cottage, guest house, or 'pool house'.


Do these wall street bankers magically turn into farmers that magically grow food

Those rat bastards can eat shit and die, and no one will care one way or the other.


Do all americans magically start paying for internet by mailing gold and silver in envelopes?

Apparently your brain-washing is complete and you're absolutely clueless as to what a 'note' is. Here's a hint: a note is redeemable, as is a 'warehouse receipt'. I suggest you read up on negotiable instruments, and no, I don't mean that UCC bullshit.

Some people buy into this utter nonsense that killing the parasite will kill the host. Get over it already, the parasite is killing us all.

[TheNocturnalEgyptian]

Just curious, but let's say the current system does go down. Boom. Game over. No more credit, no more fiat, no more fancy financial schemes. so what do all these people do? Do these wall street bankers magically turn into farmers that magically grow food on their mcmansions, enough to feed everyone through drought, harsh winters, animal and insect attacks? Do all americans magically start paying for internet by mailing gold and silver in envelopes?


There were several sucessful systems run by the American government that were not based on physical Gold coins but neither were they based on money issued at interest. I suggest you look at the history of America for the answer to this question. You will also see that our most prosperous times economically were under systems like these.

Money issued at interest indicates that someone else owns the money system - the entire money system is a loan to humanity. Shouldn't the people themselves own the money system? They are obviously the prime creators of it.

Why not have the exact same system that we have today, except everything is opensource and given back to the people? Any monetary system that exists is always going to create fringe benefits - shouldn't those benefits be folded back into the society that created them, and not into a private group?

[midnight rambler]

You already HAVE that system. It is in place and all you have to do is FOLLOW it. The 14th amendment says you cannot question the national debt AS LONG AS YOU ARE A BENEFICIARY OF THE 14TH AMENDMENT. Bankruptcy is certainly questioning the national debt and itself is unconstitutional under the 14th.

I am suggesting when children are awakened in the middle of a nightmare their response is generally to leave the lights on. Lights on/lights off makes no difference at all to the recurrence of the nightmare.

Don't know the gentlemen. Do know that problems are created, they are identified and solutions crafted .... and if you put this process into capsule form I don't believe I would care to swallow it whole and without questioning.

You have the remedy already. Why go for another dream?

Didn't you tell me you have registration on your car so you wouldn't be hassled by the man with the plan? Is that being practical or merely being expedient?

[sirgonzo420]

Should the present "system" be taken down precisely what system would replace it? One that operates just like the system presently operates? People don't think rationally because they are taught no logic or how to think. At this instant if you place Harry Potter on the ballet he would win hands down and he is not even real.


He may not be real but he is magic; he can fix anything!


:)

[osoab]

Aren't we still in bankruptcy from the 30's?

[Horn]

Paul recommended the U.S. “declare bankruptcy” and reduce the national debt by dismantling the Federal Reserve, to which we owe upwards of a trillion dollars.


http://www.youtube.com/watch?v=usfiAsWR4qU

[Horn]

http://www.youtube.com/watch?v=vCl7Sxb4Ybw

[po boy]

Wayne Paul on the US's last bankruptcy.


http://www.youtube.com/watch?v=HesLDikEets

[palani]

Didn't you tell me you have registration on your car so you wouldn't be hassled by the man with the plan? Is that being practical or merely being expedient? I don't own any car. What actions other take is hardly my concern.

[madfranks]

Should the present "system" be taken down precisely what system would replace it? One that operates just like the system presently operates? People don't think rationally because they are taught no logic or how to think. At this instant if you place Harry Potter on the ballet he would win hands down and he is not even real.

He'd still win:

176

[palani]

Obama won and he is not real.