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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: philv who wrote (21078)	6/4/2004 2:01:12 PM
From: sea_urchin	Read Replies (2) \| Respond to of 80936

Phil > Here is another guy who thinks debt actually matters, he has thought so for a long time and has been wrong for exactly the same period. I agree. Yet he writes very well, has excellent credentials and has a convincing argument. As I remember, last time was about the national debt which was going to bring down the economy, and it hasn't, this time it's about the private debt which is going to bring down the mortgage-holders -- and it won't. > What he hasn't figured out yet is that it only matters if it is recognized by those who count....until then it is just noise Again I agree. Providing China & Co buy the treasuries, the national debt doesn't matter, no matter how big it is. And as far as the mortgage-holders are concerned, so long as the banks (or whoever gives the loan) don't foreclose, Joe Soap is fine. Of course, Joe will have sold his soul to the bank, just as the song says about the company store and the fifteen tons and deeper in debt. And this brings me around to one of my favorite subjects -- namely, the whole purpose of the debt -- which is social control, pure and simple. While Joe is indebted up to his eyebrows he simply HAS to behave. He can't rock the boat or give any kind of trouble. And he knows if he loses his house, his wife will divorce him and take whatever is left after the bank has cleaned him out. If his kids are drafted, and they will be, he has to smile and proclaim how he "loves America". But the banks will not foreclose on him -- providing he's a "good boy". And Joe will be eternally grateful because he can keep his house and his wife and the kids and the car(s). And all because of the bank. Joe has learned what patriotism is all about. He would even die in defence of the "system" --- and the bank. In fact he may have to! And some people say that paper money has no value. They should tell that to Joe. Some people say that paper money should be backed with gold. Why should it be when, in fact, it is backed with something even more valuable --- human flesh and blood!