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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (27271)	3/15/2010 12:26:39 PM
From: Wayners	1 Recommendation Read Replies (1) \| Respond to of 103300

All the money that the Federal Government raided from Social Security during all of those surplus years is now coming due. The Feds now have to actually pay back the money they stole from the system and starting this year will cost taxpayers $30B now and this will continue until Social Security is bankrupt and they can't find any more suckers at the bottom of the pyramid/ponzi scheme to feed the top of the pyramid. History shows that the Feds default about every 30 to 40 years, devalue the dollar to skip out on their debts. In 1933 the Feds were on a sham gold standard and printed more gold certificates than they had gold to cover them...a complete illegal fraud to begin with so to hide this fraud, they created a new fraud and confiscated everybody's gold, calling them horders and then devalued the dollar. People should have called them Charletans and put the whole Fed in jail and abolished the institution completely. Then in 1971 they reneged on foreign debts payable in gold--foreign dollar holders, another Fed default and devaluation of the dollar because again they didn't have the gold that they were required to have to make good on their dollar liabilities to foreigners. When the Govt defaulted in 1971, look at what happened to interest rates as a result through the early 80s. I'd expect that again and maybe worse this time around. Now here it is 2010 and the Fed has the same problem once again--they are bankrupt. They will devalue once again but this time the current dollar isn't backed by gold, so to devalue what they would do is create a new dollar and suddenly and without warning say that all old dollars must be converted into new dollars such that say they give you 25K of new dollars for every 100K of old dollars that you hold. Presto, the debt problem is solved for the Feds at the expense of all suckers holding the old dollar who will be wiped out of course. Interest rates will also explode because of the default. I also don't think the Gold in Ft. Knox is actually owned by the Feds anymore. I think they leased it out and the leaseholders sold it, but there it is sitting in Ft. Knox so like a cheap magicians trick it still looks like the Fed owns it.