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To: Les H who wrote (234277)12/24/2009 7:15:14 PM
From: rich evansRespond to of 306849
 
This article makes no sense to me. I think he is doing an apples and oranges addition out of the data. He says the Treasury is having no problems refunding etc and then claims a ponzi scheme. Where is the ponzi scheme? There certainly is a deficit problem at 10% of GDP but borrowing to pay bills is not a ponzi scheme. He never states the source of the 500 bill in Treasury borrowing and since his numbers don't add up and he doesn't know where it is, he claims a ponzi scheme.
Rich



To: Les H who wrote (234277)12/24/2009 11:16:06 PM
From: Skeeter BugRead Replies (2) | Respond to of 306849
 
>>Eric Sprott: The Fed Is A Ponzi, The Treasury Purchase Data Is A Lie<<

it's worse than that. the monetary system works similar to a ponzi scheme...

we need continually increasing debt in order to make previous debt (including interest payments) payable.

without new debt, there isn't enough money in the system to pay back the interest portion of the previous debt. that forces defaults and will collapse a fractional reserve lending system.


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