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When will a political party elect a Congress that votes to enforce Strict Liability on bad loans by big corporations? Obama won't nor our present Congress.
The question for our elected representatives is simple: Why are we borrowing money to buy what is known to be privately issued BAD Paper? Why am I being ask to pay off any other private person's, or business's, or another government's, or anyone elses bad loan. We will bankrupt ourselves and our children and destroy this country unless we make our elected representatives stop this criminally corrupt activity now.
Loans are easy to handle in an honest society of free people. You can loan to anyone on any honest terms you like, and unless there has been material misrepresentation, when the borrower can not or will not pay, then YOU, the lender, don't get your money back except through legal collection actions.
Above all, our elected representatives, i.e. the rest of us, can not permit our government to aid you in getting repaid. That way we spread the risk of unlucky or Stupid loans across millions and millions of lenders. Living off interest is light work, but that means your brains better be engaged, or you will justifiably lose YOURS, not our, money.
When the government guarantees a loan, then it above all must insist on honesty on both sides of the transaction, or the costs of lies and the mendacities encouraged by our government(s) refusal to enforce accountability will grow to huge proportions as we are now noticing.
Only unconscious cost minimizers, i.e. a Three Monkey Society, where both leaders and most citizens ignore each others First Costs towards others to escape immediate accountability would allow a government to pay private bad debts.
Catching costs when you first notice them is the cheapest way to handle them. Buckle up, the elevator cable will break from once the massive load of lies emitted by our 3MS leaders.
As for ordinary citizens, unclamp your thumb and forefinger from around your nostrils and smell the stench of corruption coming from most of our elected and hired leaders. Being a free person is not free, you must act to make our leaders bring sworn leaders who break our laws to justice, or lose your money, your livelihoods, and your freedom.Last edited by Dan on Fri Jul 19, 2013 9:50 pm; edited 1 time in total
Well Quantitative easing has extended and pretended our bad debts to the tune of several trillion more. My oh my are we in for a rude surprise.
"Maybe this old Arab proverb warrants respect: People who lie to others have merely hidden away the truth, but people who lie to themselves have forgotten where they put it."
That describes Americans. Most of us seem to have no respect for the truth. All truthful statements have one thing in common. the facts contained therein or implied are accurate and relevant. God is not going not help us because God hates liars.
It took awile but but Senator Bunning started the ballrolling. We are going to balance our books.
Once you enter a basket of competing debt backed currencies this is inevitable.
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