Bright Raven
Well-known member
I notice it takes him about half a day to come back with a response. If I had to put that much effort into posting, I would go build fence.
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Lets give More Ron a warm welcome back! :clap:
Thanks for remaining our discussion control. Obvious you are scanning each statement for inaccuracies.
Still have not found any? Interesting.
Let's continue with our history.
Remember how important you thought it when you believed it reinforced your own world view?
Andrew Jackson:
"If Congress has the right under the Constitution to issue paper money, it was given them to be used by themselves, not to be delegated to individuals or to corporations."
Control of a central bank- "would be exercised by a few over the political conduct of the many by first acquiring that control over the labor and earnings of the great body of people."
1828 address before a group of bankers: "You are a den of vipers. I intend to rout you out and by the Eternal God I will rout you out."
"If the people only understood the rank injustice of our Money and Banking system, there would be a revolution before morning."
"Is there no danger to our liberty and independence in a bank that in its nature has so little to bind it to our country? Is there not cause to tremble for the purity of our elections in peace and for the independence of our country in war? Controlling our currency, receiving our public monies, and holding thousands of our citizens in dependence, it would be more formidable and dangerous than a naval and military power of the enemy."
Jackson vetoed the charter of the second central bank in 1832.
The Bank continued to operate until 1836 and it was used by Nicholas Biddle to wreak havoc upon the economy by reducing loans and increasing the quantity of money.
He ordered the Secretary of the Treasury to remove all Government deposits from U.S. Banks and deposit them in state banks.
On January 8, 1835, Jackson paid off the final installment on our national debt and it was the only time in history that our national debt was reduced to zero and we were able to accumulate a surplus, $35 million of which was distributed to the States. Nicholas P. Trist, the President's personal secretary, said: "This is the crowning glory of A.J.'s life and the most important service he has ever rendered his country."
The Boston Post compared it to Christ throwing the money-changers out of the Temple.
James K. Polk, the Speaker of the House (who later became the 11th President in 1845) said: "The Bank of the United States has set itself up as a great irresponsible rival power of the government."
Jackson became the first President of the United States to be censured which was done in March, 1834 "for removing the government's deposits from the Bank of the United States without the express authorization of the United States Congress." The censure was later reversed by the Senate in 1837.
Thanks for remaining our discussion control. Obvious you are scanning each statement for inaccuracies.
Still have not found any? Interesting.
Let's continue with our history.
Remember how important you thought it when you believed it reinforced your own world view?
Andrew Jackson:
"If Congress has the right under the Constitution to issue paper money, it was given them to be used by themselves, not to be delegated to individuals or to corporations."
Control of a central bank- "would be exercised by a few over the political conduct of the many by first acquiring that control over the labor and earnings of the great body of people."
1828 address before a group of bankers: "You are a den of vipers. I intend to rout you out and by the Eternal God I will rout you out."
"If the people only understood the rank injustice of our Money and Banking system, there would be a revolution before morning."
"Is there no danger to our liberty and independence in a bank that in its nature has so little to bind it to our country? Is there not cause to tremble for the purity of our elections in peace and for the independence of our country in war? Controlling our currency, receiving our public monies, and holding thousands of our citizens in dependence, it would be more formidable and dangerous than a naval and military power of the enemy."
Jackson vetoed the charter of the second central bank in 1832.
The Bank continued to operate until 1836 and it was used by Nicholas Biddle to wreak havoc upon the economy by reducing loans and increasing the quantity of money.
He ordered the Secretary of the Treasury to remove all Government deposits from U.S. Banks and deposit them in state banks.
On January 8, 1835, Jackson paid off the final installment on our national debt and it was the only time in history that our national debt was reduced to zero and we were able to accumulate a surplus, $35 million of which was distributed to the States. Nicholas P. Trist, the President's personal secretary, said: "This is the crowning glory of A.J.'s life and the most important service he has ever rendered his country."
The Boston Post compared it to Christ throwing the money-changers out of the Temple.
James K. Polk, the Speaker of the House (who later became the 11th President in 1845) said: "The Bank of the United States has set itself up as a great irresponsible rival power of the government."
Jackson became the first President of the United States to be censured which was done in March, 1834 "for removing the government's deposits from the Bank of the United States without the express authorization of the United States Congress." The censure was later reversed by the Senate in 1837.
Fieldhand":1bs18f0j said:
HI Greg!
True Grit Farms
Well-known member
Why can't we just declare bankruptcy, then restructure and start all over again? Don't you get to keep what you have, and your debt gets forgiven?
It seemed to worked out all right for our current POTUS.
It seemed to worked out all right for our current POTUS.
True Grit Farms":2b24w1xa said:
4 times.
True Grit Farms":3opr6iku said:
Let's take your idea to its logical end; hypothetically.
We the people (holders of a large portion of national debt, via our federal govt) would be defaulted on. Federally provided services like Social Security, Medicare, Govt retirements and pensions would cease; just to scratch the surface. Our citizenship is not ready for something so drastic.
Not to mention the foreign countries who own portions of our debt. I am certain defaulting on them would create significant consequences.
True Grit Farms
Well-known member
bball":sgh1la0n said:
Sounds to me declaring bankruptcy is exactly what needs to happen. We need to restructure as a country and the sooner the better. I think the gov retirements and pensions definitely need to go, most just scammed the taxpayers. Why are you singling out the working folks, the freeloaders and deadbeats on the government teat need to go first.
True Grit Farms":9ibhfxv0 said:
I don't think I singled the working folks out TG. If it was interpreted that way, that was not my intent.
Not everyone getting SS is a dead beat. Many paid in their entire life, against their will possibly, and did not have additiiinal income to privately invest. Do we owe our veterans a moral obligation? What would we do with all those elderly folks on Medicare/ govt funded healthcare? Is it ethical to take away retirement someone who served the public their entire life? These are just a few of the tough questions that would need to be answered. This is why I stated that our citizenship isn't ready for something so drastic. There are some who are, but a small minority. I will be the first to admit there are egregious wastes and abuse of our social services. I am no sympathizer to freeloaders or cheats. That should be clear by my history of posts here.
True Grit Farms
Well-known member
There's no easy answer, but the road we're on now leads to a dead end.
TexasBred
Well-known member
Chapter 11....reorganization.True Grit Farms":3km2bgtg said:
D2Cat
Well-known member
I can't change the world, but I can change only what I do. I have been very fortunate. I was taught at the age of 17, "When your out go exceeds your income, your upkeep becomes your downfall." Doesn't take much education to figure it out, just discipline to do it. Results are amazing!
D2Cat":2d520aeu said:
Images work again.
D2Cat,
Agree in theory. Also agree that individually, it is hard to change the world. But when united, the sheep no longer will feed the wolves.
Does being thrifty protect us against devaluation?
They are playing the long game because we are often short sighted.
hurleyjd
Well-known member
D2Cat":18p2wlt8 said:
Do you cut spending or increase income. My cattle operation as most folks think is not a tax right off. It is a losing proposition most years because of the cost of my inputs. Accountant told me to get rid of the cattle and let Nature take over the farm
He said you spent 25k to save about 1800 in tax payment.
OP
OP
Anonymous
As much as I hate debt and try to avoid it personally, wouldn't it make financial sense to borrow yourself to the max over the long term ,knowing the value of the dollars you pay back down the road will be less buying power than when borrowed?Fieldhand":1h5tb8fs said:D2Cat":1h5tb8fs said:
Images work again.
D2Cat,
Agree in theory. Also agree that individually, it is hard to change the world. But when united, the sheep no longer will feed the wolves.
Does being thrifty protect us against devaluation?
They are playing the long game because we are often short sighted.
hurleyjd
Well-known member
A bank robber was asked why rob banks. His answer was that is where the money. This trickle down in theory will generate more tax income. So why cut social security which supports it self and also medicare. They should be able to take the extra tax revenue and pay the treasury bonds in the social security trust fund and every thing will be alright. Also the economy is going great more people working than every should stabilize the social security and let the trust fund build. Now back to my first statement to balance the budget and pay the debt they will have to go where the money is which is the corporations, the rich and management that draw more money than most are worth.
D2Cat":zhxu4wci said:
While, personally, I agree and practice your quote, it is too late for this sage advice to help our national debt situation. Those in govt and the FR needed this advice 80 years ago...
hurleyjd
Well-known member
To be in the top 5% of rich individuals you would need a net worth of 1.9 million. Check and see if you are in the category.
hurleyjd":2c3ed82d said:
Naw Hurley, you had it right in your first statement. That is who still has the money...atleast the electronic money. Remember, this is a shell game with no pea under any shell.
hurleyjd
Well-known member
Yes but this is the system we have to work with. Looks like the banks in my area are rolling in the dough. They are building new building every where you look.
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