Fiscal Cliff

jpete wrote:

wilder11354 wrote:Time for a tax revoltion... tell employers to stop withholding your share of income tax. Send to off shore account. when they say you have to pay now, tell them where its at. Paid, via escrow, but not released for squandering till next budget is passed.

I never had the stones to do it. The best I could do was claim "Married-9" to limit the pain as much as possible.

Good answer they may be reading. SHHhhhhh! LOL

Anyway me neither. That is the problem you would need a lot of people to be behind it to work.

It appears that with the recent failure in the House, the focus upon rescuing us from the Fiscal Cliff is now turning to the Senate. Beware however that the Constitution has declared that “All bills for raising Revenue shall originate in the House of Representatives". Therefore, if anything solving the Fiscal Cliff matter originates in the Senate (and is later merely agreed upon by the House), the Supreme Court must immediately strike it down, or the Constitution has no meaning.

Good luck with that. IIRC, the Senate is where Obamacare came from.

The Constitution hasn't meant much since John Adams and nothing since Lincoln.

jpete wrote:Good luck with that. IIRC, the Senate is where Obamacare came from.

The Constitution hasn't meant much since John Adams and nothing since Lincoln.

Wow, that's the avenue to the repeal of Obamacare! It was declared by the Supreme Court to be a tax, so therefore it had to originate in the House. Why didn't the same Supreme Court that recognized it as a tax not see this? Hmmm???

The real fiscal cliff will come when the Fed is finally forced to begin raising interest rates to honest levels. There will be weeping and gnashing of teeth when that moment arrives.

Sorry Larry that can't happen. Look at the last time confidence in treasuries resulted in a rising interest rate - that was 1981 and the prime rate topped out at 19.2% in January. That caused a collapse in gold prices. Now the debt is much larger, confidence much depleted and the political will to balance anything has evaporated. If you calculate the debt service cost of paying 5% on treasury debt (not nearly enough once the SHTF) you will work out that is greater than GDP. We are locked here until we crash. Four more years of this goon and that should just about do it - game over. There is no meaningful way of increasing tax revenues whatever the democrpas dream up. Now don't bother me with your problems, I need to get some surfing in before tee time.

coalnewbie wrote:Four more years of this goon and that should just about do it - game over. .

That's when the UN currency kicks in.

jpete wrote:

coalnewbie wrote:Four more years of this goon and that should just about do it - game over. .

That's when the UN currency kicks in.

You may be right! A new world currency, isn't that what all of the G20 summits have been about?

They better hurry with that new UN currency because the Euro isn't worth anything. They have printed more than we have bailing out Greece and Spain. And Obummer wants to take us down the tubes with them. I'm sure he will be apologizing for our American arrogance as he sells us down the river.

plumb-r wrote:They better hurry with that new UN currency because the Euro isn't worth anything. They have printed more than we have bailing out Greece and Spain. And Obummer wants to take us down the tubes with them. I'm sure he will be apologizing for our American arrogance as he sells us down the river.

They? Try US! You and me!

http://online.wsj.com/article/SB1000142 ... 82876.html

The Federal Reserve's Covert Bailout of Europe
When is a loan between central banks not a loan? When it is a dollars-for-euros currency swap.

lsayre wrote:

jpete wrote:

coalnewbie wrote:Four more years of this goon and that should just about do it - game over. .

That's when the UN currency kicks in.

You may be right! A new world currency, isn't that what all of the G20 summits have been about?

Everything old is new again!

https://en.wikipedia.org/wiki/Bancor

The bancor was a supranational currency that John Maynard Keynes and E. F. Schumacher conceptualised in the years 1940-42 and which the United Kingdom proposed to introduce after the Second World War.

Check out this UN report from 2010

http://www.un.org/en/development/desa/p ... 10wesp.pdf

An SDR-based reserve system would also provide
a basis for a better pooling of international reserves, as international liquidity would be
made available on a counter-cyclical basis, reducing the need for individual countries to
hold costly amounts of reserves on their own.

And "SDR" is a "special drawing right" and they are now use so poor countries can have access to cash(drawing rights). The plan is for ALL countries to draw from the IMF.

Flyer5 wrote:http://www.ntrc.info/doorbell.html

They appear to be letting her off easy. The real service on the debt would cost far more than $63 per month.

Good News! Al Qaeda Disbands; Says Job of Destroying U.S. Economy Now in Congress’s Hands

http://www.newyorker.com/online/blogs/b ... hands.html

Good News! Al Qaeda Disbands;

You must be referring to Obama and his cabinet.

kevin