The miracle drug - Page 2

yo just a heads up it is truly an unknown how much debt china owns, tho its certainly not like 1/2 or more. they bought a looooooot of debt thru indirect means / a loophole of the mechanism that is meant to prevent any one buyer (china in this case..) from buying more than a certain amount each auction... not sure on details beyond that (ie how much they might of been able to scoop up through indirect purchases of debt).

idk where I read this, might of been on a link in LP for all I know, was a legit article..

^source?...b/c I can give dozens of sources w/ exact number of what china owns and they all fall within the same 1.3trill-800bil range

Well played.
And Palak who the fuck cares who owns US debt? :O

if the public doesn't own it, and other countries do, they dont want us to default. they want us to pay the debt back.

i really dont like republicans right now. if they dont negotiate and we default, i wont get student loans. they get a little bit handed to them, they want more. fucking political shit affecting my livelihood.

And Palak who the fuck cares who owns US debt? :O

just matters who doesn't get paid and how much it effects other countries. Mostly its just an issue b/c so many ppl r just completely clueles about who actually owns the debt and thinks china is just going to buyout the US.

I was totally hoping on finding some miracle drug in this thread >_<

that you have to obtain government subsidies in order to go to school within a free society is a real shame because you definitely need your education as it seems the point in the op video was entirely missed

here... this will hopefully help

I would suggest fact checking youtube videos. He didnt list any defaults. All we did in 34, 68, 71 was say thay u could no longer recieve precious metals for certificates but instead just got dollar amounts instead. It was done in 34 and 68 to avoid deflationary spirals. E.g. in the 60s the amount of silver in a silver dollar was actually worth $1.29 so anyone with a silver $1 certicate that traded it in to the gov't for a silver dollar would actually be recieving $1.29 worth of silver, thereby making a profit. So the govt changed the law to a $1 silver certificate being worth $1 instead of being worth 1 silver dollar. http://en.m.wikipedia.org/wiki/Silver_Certificate

34 and 71 r the same type of things. They are not defaults they r just instances of keeping certificates at an original pricing to avoid deflation. Further I can find no source of this being a default besides 1 essay kinda saying 34 is somewhat of a default. The only other source is an article written by Ron Paul that provides no references and is requoted a bagillion times.

The "default on creditors saying we helped them w/ foreign aid so we wont pay them" is completely retarded.

There is debate about if intragovt debt should count as debt.

We do need to revisit entitlements to account for todays longer lifespans.

The constitution is not the supreme law of the land. This is something ppl get wrong over and over and over. The supreme law of tha land are the constitution, federal laws, and treaties.
http://en.m.wikipedia.org/wiki/Supremacy_Clause

Wow. You have less than zero understanding about money and absolutely no understanding about the rule of law.

"All we did in 34, 68, 71 was say thay u could no longer recieve precious metals for certificates but instead just got dollar amounts instead."

Who exactly is we and who exactly is you? Are you a government employee?
Also look up Presidential Executive Order 6102 and see how wrong you are about "all the government did".

"The constitution is not the supreme law of the land. "

You are trying to imply that something else is higher in the rule of law in America than The Constitution. You go to prove this by showing a wikipedia link to the Supremacy Clause. rofl
Where exactly is the Supremacy Clause found genius? Do you know what a constitution is?

This is only the beginning in an almost endless list of distortions but hopefully I posted enough for anyone who reads your drivel to at least take pause when reading your posts in the future.

wiki sites the constitution which says
"This Constitution, and the Laws of the United States which shall be made in pursuance thereof; and all treaties made, or which shall be made, under the authority of the United States, shall be the supreme law of the land;"
Tada the constituion says the laws of the land are the constitution, treaties, and federal laws.

The "supremacy clause" is the most important guarantor of national union. It assures that the Constitution and federal laws and treaties take precedence over state law and binds all judges to adhere to that principle in their courts. - United States Senate[1]

From the wiki.
The damn supremacy clause which is constantly talked about by ppl claiming to know the constitution is not a clause stating the constitution is the highest order, it's a clause about federal gov't trumping state level gov't and judges needing to follow that rule.

Also yes 34 is different in that the gov't made possession over a certain amount illegal except in certain forms. But it was for the same reason as 71, to avoid a deflationary spiral. Plus when they made gold worth $35 in 1934 was for international transactions.

The price of gold from the Treasury for international transactions was thereafter raised to $35 an ounce ($587 in 2010 dollars). The resulting profit that the government realized funded the Exchange Stabilization Fund established by the Gold Reserve Act in 1934.

http://en.wikipedia.org/wiki/Executive_Order_6102
That is not defaulting.

Gee look what else the US constitution says
"No person shall be held to answer for a capital, or otherwise infamous crime, unless on a presentment or indictment of a Grand Jury, except in cases arising in the land or naval forces, or in the Militia, when in actual service in time of War or public danger; nor shall any person be subject for the same offense to be twice put in jeopardy of life or limb; nor shall be compelled in any criminal case to be a witness against himself, nor be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation"
http://en.wikipedia.org/wiki/Fifth_Am..._Constitution#.22Just_compensation.22

Which the supreme has said means market value for your property

The last two words of the amendment promise "just compensation" for takings by the government. In United States v. 50 Acres of Land (1984), the Supreme Court wrote that "The Court has repeatedly held that just compensation normally is to be measured by "the market value of the property at the time of the taking contemporaneously paid in money."

Constitution allows the US federal gov't to seize any property you have so long as they pay you the current market value for whatever it is they are taking.