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IOU Part Two: California To Issue IOUs For Second Year In A Row
The insolvent state of California which, just like the country of the USA, is operating without a budget (and who needs a budget when the Fed-PD complex will buy the bulk of anything and everything needed to fund ongoing daily operations), has once again ended up on the verge of bankruptcy. As a result, it has just passed a measure which for the second time in as many years (going all the way back to the Great Depression), will allow it to use IOUs in lieu of payment on everything from supplies to contracted services and health-care
costs, so it can actually preserve cash to make payments to its generous debtors. On the road to banker serfdom, California has once again reached its goal.
From Bloomberg:
California lawmakers passed a bill to let recipients use state IOUs to pay fees and taxes owed to the government in Sacramento, if the warrants are issued.
The bill, from Assemblyman Joel Anderson, a San Diego Republican, passed the Senate unanimously. It requires all state agencies to accept registered warrants issued to pay for goods and services. The Assembly unanimously approved the measure in September. The Senate vote puts the legislation before Governor Arnold Schwarzenegger, whose budget aides oppose it.
California may start handing out warrants to pay some bills within two weeks to conserve cash, Controller John Chiang, a Democrat, has said. The need for the IOUs arose because a legislative logjam over how to erase a $19 billion deficit has prevented passage of a budget. The state will use the chits for everything from supplies to contracted services and health-care costs so it can make payments on priority items such as bonds.
The legislation is aimed at offsetting the hardship IOUs can impose on those who receive them, Anderson said, citing the experiences some recipients had with last year’s warrants.
And who wouldn't love to accept warrants from a state that is not only once again bankrupt, but can't even balance its budget, as it is required by law. And the supreme irony is that not even this latest financial gimmick will postpone the inevitable:
Schwarzenegger’s budget office opposes the bill because it
may reduce the state’s cash position to less than projected,
said H.D. Palmer, a spokesman. Draining the state’s coffers
would defeat the purpose of the IOUs, Palmer said.
Less than projected? Based on what non-existant budget?
The tragedy of America's bankruptcy (oh wait, it can never go bankrupt, we keep forgetting) will be a long and painful one.
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"I OWE YOU NOTHING!"
See how easily they can change currencies?! Maybe one day they will bring back Constitutional GOLD AND SILVER as mandated by the Constitution!
To bring back Gold and Silver would be nothing short of a controlled burn-off; saying bye-bye to the middle class, forever!
You'd be mad to expect market rate...the dollar would have been driven off the cliff long before that will ever happen.
It's hyperinflation via the market...that way the financial criminals can play innocent.
Currencies and markets will be suicided.
"Hey Moose, Rocco... help the Judge find his wallet."
Classic
You'll get nothing, and like it!
http://www.youtube.com/watch?v=Zrpx4NAtsFQ
Haha - Caddy Shack!
Ty: "Do you do drugs Danny?"
Danny: "Everyday sir"
Ty: "Good boy"
Danny: "Aah, I'm gonna end up working in a lumber yard"
Ty: "What's wrong with working in a lumber yard, I own several lumber yards"
Danny: "I notice you don't spend much time there..."
Ty: "Hmm, I'm not sure where they are"
Caddyshack is easily the best movie of all time.
It's easy to grin
when your ship comes in,
and you've got the stock market beat;
But a man worthwhile,
is a man that can smile,
when his shorts are too tight in the seat.
http://www.youtube.com/watch?v=VGpQej3o9eo
Somebody call me?
And "I" owe you nothing...take that!
This almost reads like some kind of spoof or parody.
Very sad. Why anyone voluntarily lives in that state is beyond my comprehension.
Turd, I love ya but you have obviously never lived in California before. I love the weather here.
the weather ,women, and weed (purple kush)
http://www.youtube.com/watch?v=53aw3NOfkcI
Purple Kush is an abomination. You understand the purple is ruderellis a Russian weed. Losely related to real marijuana it grows huge. That's why the greed hounds use it.
A real OC Kush or perhaps a nice Bubba Kush, both fine indicas, will hopefully enlighten you as to the truth.
I'm a BC boy ... I know.
Burn: I spend about two weeks a year in SoCal. You're right, the weather is usually great but I need a little variety. My Kansas bunker affords me the beauty of all four seasons and I don't have to deal with all the traffic, the greasy liberal pols, the high taxes and fees, the overrun emergency rooms, earthquakes, wildfires, ants, tourists...must I continue?
Oh, come on Turd, put on a happy face. Just remember that most national trends start here, in the Winter Home of the Great Satan, California.
As Richard M. Nixon (of CA) once reputedly said to Hunter Thompson (also of CA) at the loos in a men's room (in CA) whilst sharing a piss;
Doomed I say. Doomed. We're all fucking Doomed.
A little Left Coast Progressive Optimism.
(sigh, visions of butterflies, blue skies, fluffy clouds, beautiful scenery, baby unicorns shitting tiny rainbow Skittles, everybody smiling, Gavin Newsome, Jerry Brown, Nancy Pelosi, Henry Waxman... There's no place like home.)
"most national trends start here"
That appears to be holding up now also.
+
Nixon stole that from The Mighty Mogambo (TMM).
Okay, I'm going to duck and/or accept my banning now.
Give the man a cigar!
Gotta agree with you, Turd. I'll never live in Kallyfornia, and I'm outside Detroit, lol. The traffic itself would drive me insane.
Flew through detroit from DEN yesterday, nice airport. Sort of surprised. Big hub, I guess.
We get two full seasons in SoCal - short-day season and long-day season - the other seasons are over-rated
Gad the ants! The most insidious, invasive little fuckers I've ever had to face!
Go to China town. Ask a shopkeep for the ant stick. It's a white chalklike stick half a pencil size. Draw a line across where the ants are coming in. Might need one more treatment. You'll not have any ants thereafter.
I don't know what's in it.
Regular chalk works pretty well, too. No need for Chinese chalk sticks...
Uranium 235?
IOUs as good as money.
http://www.youtube.com/watch?v=7GSXbgfKFWg
If that were the case, California would accept their own IOU's for taxes -- they don't.
Californians are so phoney that if they don't have air conditioning they ride around with their windows closed so no one knows they don't have it.
I was being sarcastic thus the Dumb and Dumber clip.
Cali IOUs: The new normal.
Dead state walking.
Have you heard about the new $578 Million high school in LA?
http://abcnews.go.com/WN/public-school-los-angeles-named-robert-kennedy-...
I wonder how tax payers in other states would feel about having to bail out California couple years from now.
Won't matter--Obama's going to have everyone bail everybody else out! It'll be the best daisy chain orgy ever!
TRUTH IN ACCOUNTING ISSUES ILLINOIS’
“FINANCIAL STATE OF THE STATE”
Study Confirms State’s Financial Situation is ‘Obscene”
Chicago – Today, the Institute for Truth in Accounting released Illinois’ “Financial State of the State”, which answers the question “Is the state bankrupt?” The Institute’s reports the state has only $20 billion of assets to cover $140.6 billion in bills ---- a $120.6 billion shortfall. Each Illinois taxpayer’s share is $29,200.
This precarious financial position falls under one definition of bankruptcy ---- A debtor that does not have the financial means to pay their bills as they come due. The Institute’s detailed study of Illinois’ June 30, 2009 audited financial report and retirement systems’ actuarial reports found the state does not have the $120.6 billion needed to pay for its liabilities as they come due.“ The state has incurred billions of dollars of liabilities and does not have the means to meet these liabilities,” said Sheila Weinberg, founder & CEO of the Institute.
On July 2 Comptroller Dan Hynes admitted that the state did not have $5 billion to pay bills that were due. In a New York Times interview Hynes stated, “This is not some esoteric budget issue; we are not paying bills for absolutely essential services”. He underscored, “That is obscene.”
“Our study of the Illinois budget processes and financial reports found our governor and legislators continue to damage the state by not following the state budget law,” stressed Weinberg. “Their total disregard of Illinois’ balanced budget requirement has resulted in a financial hole that may be insurmountable.”
The Institute’s study revealed that each year when calculating a balanced budget the governor and legislators routinely overlook billions of dollars of payroll costs, including earned retirement benefits. Bill Gates recently called this practice “accounting fraud”. The Institute’s chair Roger Nelson commented, “We must stop this practice, which our elected officials have used to pretend they have balanced the budget, while not providing the necessary funding for $100 billion retirement benefits promised our state employees and teachers.”
http://www.truthinaccounting.org/blog/blog.asp?ArticleSource=1119
"Get your foot off the boat." :P
Did they forget to count Blago's hair in the assets?
I'd be glad to remove it from him for you.
“Their total disregard of Illinois’ balanced budget requirement has resulted in a financial hole that may be insurmountable.”
Yeah, that's about right.
"not providing the necessary funding for $100 billion retirement benefits promised our state employees and teachers"
Don't care about the government leeches.
Can I pay my mortgage with those?
HEY! You scratched my anchor!!
California hear our call, you have always led the trend for the rest of the USA.
Just default. Lets roll.
...then legalize...
not necessarily in that order
http://www.youtube.com/watch?v=x1zojsUs3jo&feature=related
Yeah and how many of these vendors are PUBLIC companies who will carry the WORTHLESS IOUs as valid RECEIVABLES, once again bastardizing balance sheets.
I heard that because the IOUs were to be paid in a year, the trade creditors were even listing this shit as current assets. I spoke with an auditor of Emcor (EME) who confirmed this last summer.
From what I understand, the last time, markets were created for trading these via B of A and Wells so I doubt many corps held onto theirs.
where is Cheeky Bastard to mention MEFO Bills? I'm not condoning Hjalmar Schacht and the role he played in Hitler's rise, but his genius saved the credit of Germany in 1934 and 1935.
http://en.wikipedia.org/wiki/Mefo_bills
where's Cheeky? did they get him?
Cheeky?
Never send to know for whom the bell trolls.
Have the sniffles. Can I borrow your IOU to blow my nose? Promise to give it back.
Top 10 CDS Positions
http://www.isdacdsmarketplace.com/exposures_and_activity/top_10_cds_positions
thanks for that link
Geez, WTF is GE Capital doing??
What is Italy doing?
...as will its unfolding
They should just re-label them "California Central Reserve Notes" and put lots of fancy engraving on them - then they would be "real money" :P
They already are. People take them, banks honor them. They're zero coupon perpetual debt obligations, just like Federal Reserve Notes. Big difference. One's just got a longer shelf life.
Let's call them Arnies - in honor of the Governor.
Why? Legislatures spend money, not Governors. Same with Congress and the President.
+ the whole budget
Amazing that most folks don't have a clue as to your comment.
I just liked the name.
I think you could make an argument that Governors and Presidents prepare and submit budgets, push various programs that cost money, start expensive wars, etc. So I don't think they can be considered completely innocent.
My question, dear readers, is: Who are the numbskulls who bought bonds on a K-12 school in L.A. to the tune of $578m. Please, can anyone explain. I know you can't fix stupid, but, please.
the same people that bought $13.0 bn in GM corp bonds in 2002 for the purpose of "investing" in GM's UAW pension plan.
Maybe the same "idiots" who bought Citi for pennies because they expected Uncle Sugar to come to the rescue, if necessary.
Not that idiotic after all.
The real idiocy is me continuing to pay taxes for this bailout bullshit.
This story is old news- 8/20/10
Schwarzenegger budget plan would borrow from CalPERS
http://www.sacbee.com/2010/08/20/2971228/schwarzenegger-budget-plan-would.html
LOL, and under any reasonable (not the one's used) actuarial and rate of return assumptions, CalPers is...oh never mind. They're just liquid.
Oppps, that liquidity thingie again! Shhhh!
When the blind lead the blind (not specifically talking about Patterson) - all perish.
Say, wait a minute, what happened to Article One Section 8?
In some locales this is called counterfeiting...LOL.
Perhaps if Cali issued IOUs that paid 1% (or more) above face value all the squawking would stop? Hell, Cali IOUs might be better investments than FRNs or Treasury paper after tshtf.
This is not an investment reccommendation...I am still long Confederate paper. :)
Confederate paper is worth more than U.S. paper, and all they had to do was STOP PRINTING IT. Huh.
It sounds as if California is edging closer and closer to creating its own currency (e.g. California Reserve notes). Perhaps the next step would be to pass a law declaring them to be legal tender and requiring everyone to accept them at 100% face value.
California residents might want to start checking out Nevada real estate. It is really cheap right now and Nevada has no state income tax.
"Nevada has no state income tax"
...and little income.
Good deals to be had on housing in Detroit as well.
...and little income.
funny how that works
Las Vegas is a great place to live (if you don't mind the heat). I won't comment on Detroit.
Maybe Nevada will soon be able to collect money from a flood of California tax refugees.
"Las Vegas is a great place to live (if you don't mind the heat)"
so is hell......and they draw the same clientele!
funny how THAT works
I'm just playing the Devil's advocate...
Las Vegas seems like one of the worst places to be if TSHTF. Lack of water, extreme temperatures (in both directions), no crop-growing ability whatsoever, surrounded by hundreds of miles of harsh terrain... sounds like a death trap to me.
However, in a non-TSHTF world, it's quite nice.
A good bit of southern California's water comes through Boulder Dam so in a Mad Max scenario, both areas would probably be in trouble. Nevada is upstream, so perhaps that might be a bit of an advantage. And people who wanting to prepare for the collapse of civilization might be a bit more comfortable in Nevada, because California has fairly strict gun control laws.
Winters in Las Vegas are quite nice. There are palm trees... Summers are bearable if you have air conditioning.
"...California has fairly strict gun control laws."
All the better for those who own?
Oh, there's no doubt. Southern California is pretty f**ked if TSHTF. Little known fact that most people don't realize: a sizable percentage of California is desert. Hell, the entire Central Valley, where a sh*t-ton of America's food is grown, will be desert without the benefit of irrigation from the wetter North.
Vegas is the same, but worse, as the temperatures alone make it unbearable to live there without electricity to power all that air-conditioning. In end-of-the-world scenarios, Vegas is a big loser.
I agree. I'll stay in my much more northerly bunker, thank you.
California is now essentially printing their own currency. I wonder if these things can be sold or assigned. If so, I would think a secondary market will spring up (ebay?) where a person could sell his California funny money for cold hard cash (well, FRNs) to a buyer who was looking to settle his obligations to the state at a discount. Interesting times indeed.
didn't i read that GS opened a trading desk for these IOUs?
maybe it was BoA?
"didn't i read that GS opened a trading desk for these IOUs?"
LOL...if you build it they will come. Or not.
"Mr. Cameron was attending the AREDAY environmental conference in Aspen Colorado 19-22 August. He wanted the conference to end with a debate on climate change. Cameron would be flanked with two scientists. It would be 90 minutes long. It would be streamed live on the internet.
They hoped the debate would attract a lot of media coverage.
"We are delighted to have Fox News, Newsmax, The Washington Times and anyone else you'd like. The more the better," one of James Cameron's organizers said in an email.
It looked like James Cameron really was a man of his word who would get to take on the skeptics he felt were so endangering humanity.
Everyone on our side agreed with their conditions. The debate was even listed on the AREDAY agenda.
But then as the debate approached James Cameron's side started changing the rules."
http://www.noteviljustwrong.com/blog/general/481
Its Casino Time !!!
Legalize it !!!
If the IOU's are going to organized labor that used union dues to help elect Obama who in return put out an executive order "encouraging" project labor agreements designed by Big Labor to funnel construction contracts to unionized contractors and cut competition from qualified nonunion contractors and their skilled employees, THEN I THINK I'M COOL WITH THIS!
Congrats on the long sentence...of course not in the same league with Faulkner.
Time's up, let's do this.....
Leeeeeeeeerrrroyyyy Jennnnnnnnnnnnnkinsssssssssssssssss
It's all just another brick in the wall. Wonder how long the idiots on CNBC will keep debating which bottomless bucket to use to bail out the economy. Morons.
At least I got chicken. - Leroy
What's a 30-year California Treasury paying?
Are these 100 year IOU's?
California Muni Bonds are going straight up right now.
They might as well. With the almost certain federal bailout of CA on the horizon, CA munis are as "safe" as treasuries.
There should be a revolt if California is bailed out.
They will be. Lots of illegal alien vote pandering to be had.
California, here I come....
An IOU divvy play...we could corner the market ;-)
Just made good money selling munis in all the bankrupt states, such as CA, IL, NJ, AZ.
Wow! Using IOU's to pay off debt, sounds alot like using a debt based money supply. How far can the system continue to pressurize itself before the waterwall's rupture and the steam drum pops?
What?
You have a problem with the full faith and credit of the Great State of Kallyfonia?
Can they be exchanged for poker chips at the local reservation ?
" . . . generous debtors"
Don't you mean "creditors", Tyler?
Hollywood?
No, Hollywas. She's done. Bankrupt. Mexico is growing.
California Bonds are going up, just like tech stocks during that bubble. They both refute the efficient market theory, what a joke.
And gold down to USD1220 on the news.
Fuck that. I just wouldn't do business with the state anymore if I was a private vendor of goods & services. We can't be that far off from the absolute tipping point. The only unkown is how far can the games, lies and BS go before the public wakes up and just goes ape shit on these politico elistist fucks.
I feel safer with California's future than that of the US.
Yep, we've got a lot of debt, but it is denominated in US$. Good time for Cali to float a new currency. If we stop contributing taxes to US, we'll have much more destiny to protect our borders, environment, innovate, and further develop one of the top 10 economies in the world.
The USA will miss us, perhaps with initial temporary relief but eventual regret. At this point, California gives a lot more than it gets from the Federal government of the USA.
Just saying . . . be careful what you wish for.
Ohhhh, and consider this. If California were to repudiate it's US$ denominated debt as a state of USA and reorganize with a new currency denominated with a gold standard (we are after all, the Golden State perhaps to become Golden Country), how many of you would then prefer to hold our currency rather than US$ or Euro etc...?
A concept worth contemplation.
I thought Texas would be the first to bolt for the door. I never figured California had the balls. Arnie always has had presidential aspirations. He could be the first President of California.
California has too many illegals to become anything but Mexico North.
Demography is destiny. Their birthrate is through the roof, and with current judges reading the 14th amendment the way they do, they're all citizens so they're not going anywhere. Same with Texas and Florida, eventually. And then the rest...
My money's on Switzerland being the place to be in 20 years. Here's hoping my Visa gets approved.
november, the great unraveling begins after the votes are counted. gonna be a tough Christmas for lots of folks.
Given this latest development, I need reassurance that hyperinflation is an impossibility.
Has anyone seen Johnny Bravo?
Studying for his first Econ 101 test tomorrow.
Competition is stiff in Home Econ - I hope he read the directions on the back of the package.
http://www.hasbro.com/easybake/images/baker-of-the-year.jpg
Now that's funny. Very nice. ++++
ColonelCooper and Rocky Raccoon would most certainly approve!
You betcha. Ole Johnny Jizz is out delivering pizzas.
Probably mad. Hit a little close to home earlier; thinking about that time he "accidentally" brushed up against his friends mom at that hotel pool.
Wow, Alfalfa there in the middle does NOT look happy.
IOU = a short term treasury bond with a negative yield.
I predict next year they will be clearing the prisons out and putting a toll both on the Golden Gate, if they haven't already. 10 bucks a pop.
Oh and the governator will 'terminate' AIDS Action, handicap, and elder services.
toll booth is years old now - $6.00 I believe. . .
nothing at all wrong with this...TALLY STICKS.
The essence of FIAT.
No requirement here to BORROW from a bank to get the notes.
CA issues them and then taxes them out of existence. Money without interest.
I'm breathlessly awaiting the arrival of "Johnny Jizz" to this thread.
He is, after all, an expert on IOUs. His mom has a pile of them instead of money for renting the basement to him.
Every single person in the U.S. of A. is the recipient of some form of governmental aid in addition to traditional services. This is how government controls us. I include NPR, National Endowment for the Humanities, "corporate welfare," crop subsidies, cash for POS autos, tax credits, etc. We The People are pussies because we traded our liberty for transfer payments. We need the mother of all douche bags to clean us out.
behold my avatar
Maybe on a line item basis, here or there, but on the bottom line I can tell you I am not a net recipient.
I'm with the cowboy on this one, I "get" taxed less because of my kids.
The Government has done a extraordinary job in dumbing down its peasants.
Red Hot Chili Peppers - Californication
http://www.youtube.com/watch?v=YlUKcNNmywk
I have no pity about California's sacrifice to come. Pain & education is integral in human development.
The crackhead must feed the addiction. The addiction here is debt to pay debt to pay debt.....u get the picture.
Last post Tyler.. Take notice
Our sugar daddy has spent too much money trying to stimulate the economy. He is now faced with interest payments he cannot cover due to high unemployment and lack of spending. Look up the CFR laws. No link will be furnish for below info.
Most informed people are aware that Woodrow Wilson signed the Federal Reserves Act in 1913. In signing this act, this traitor transferred the power of Congress to print money to a private group of international bankers. Since then, instead of printing its own money, the US borrows money for its operations from the Fed at high interest rate. This is what caused the huge deficit which in turn caused the bankruptcy on the United States of America in 1933. The following is a speech by Rep. James Traficant, Jr (Ohio) addressing the House on March 17. 1993.
"Mr. Speaker, we are here now in chapter 11... Members of Congress are official trustees presiding over the greatest reorganization of any Bankrupt entity in world history, the U.S. Government. We are setting forth, hopefully, a blueprint for our future. There are some that say it is a coroner’s report that will lead to our demise.
"It is an established fact that the United States Federal Government has been dissolved by the Emergency Banking Act, March 9, 1933, 48 Stat. 1, Public Law 89-719; Declared by President Roosevelt, being bankrupt and insolvent. H. J. R. 192, 73rd. Congress in session June 5, 1933 - Joint Resolution To Suspend The Gold Standard and Abrogate The Gold Clause dissolved the Sovereign Authority of the United States and the official capacities of all United States Government Offices, Officers and Departments and is further evidence that the United States Federal Government exists today in name only."
(It is actually a corporation called THE UNITED STATES OF AMERICA, INC. filed in the District of Columbia.)
"The receivers of the United States Bankruptcy are the International Bankers, via the United Nations, the World Bank and the International Monetary Fund. All United States Offices, Officials, and Departments are now operating within a de facto status in name only under Emergency War Powers. With the Constitutional Republican form of Government now dissolved, the receivers of the Bankruptcy have adopted a new form of government for the United States. This new form of government is known as a Democracy, being an established Socialist/Communist order under a new governor for America. This act was instituted and established by transferring and/or placing the Office of the Secretary of Treasury to that of the Governor of the International Monetary Fund. Public Law 94-564, page 8, Section H. R. 13955 reads in part: “The U.S. Secretary of Treasury receives no compensation for representing the United States.”
In case you don't know, The Federal Reserve System is a sovereign power structure separate and distinct from the Federal United States government. The Federal Reserve is a maritime lender, and/or maritime insurance underwriter to the federal United States operating exclusively under Admiralty/Maritime law. The lender underwriter bears the risks, and the Maritime law compelling specific performance in paying the interest, or premiums are the same.
As to personal property and mortgage, here is why people don't actually really own their houses: Prior to 1913, most Americans owned clear, allodial title to property, free and clear of any liens or mortgages until the Federal Reserve Act (1913) “hypothecated” all property within the federal United States to the Board of Governors of the Federal Reserve, - in which the Trustees (stockholders) held legal title, the U.S. citizen (tenant, franchisee) was registered as a “beneficiary” of the trust via his/her birth certificate. In 1933, the federal United States hypothecated all of the present and future properties, assets and labor of their “subjects”, the 14th. Amendment U.S. citizens, to the Federal Reserve System.
"The real truth of the matter is, as you and I know, that a financial element in the large centers has owned the government of the U.S. since the days of Andrew Jackson." Franklin D. Roosevelt, U.S. President, in a letter written Nov. 21, 1933 to Colonel E. Mandell House.
Colonel House was a paid organizer and planner for the Bankers...directly under Rothchild payroll to accomplish very specific tasks in the US for the cabal.
The Internal Revenue Service is not an agency of the United States government either. It is true that not only can it NOT be found in Title 31, but it is nowhere to be found in the entirety of Title 5 U.S.C.
Congress THOUGHT it created it but it didn't. Just look at the 1100 manual and it tells you so. Congress only created the Commissioner's Office. He then hired the private collection agency people (IRS) and used them as the tax collectors.
In fact, you won't find any IRS employee listed as an Employee of the United States Government with a United States Employee Identification number that has been hired by any District Director in the country. Now I suggest you look at 27 Code of Federal Regulations Section 250.11 and therein you will find the definition of "Revenue agent." That definition reads "Any duly authorized Commonwealth Internal Revenue Agent of the Department of the Treasury of Puerto Rico."
Ronald Reagan, through the Grace Commission, demonstrated that little or no money of tax paid goes to the government.
Where does our tax money go? When you send money to the IRS it first goes to a Federal Reserve Bank. From there it goes into the International Bank for Reconstruction and Development into what they call a Quad Zero account with a drawback fund from which the IRS refunds are distributed. (Title 22 section 286 United States Code) (31 CFR chapter 11, section 214.7)
What is left is then transferred to the International Monetary Fund (United Nations Monetary and Financial Conference, July 22, 1944) this money is then loaned out to other countries around the world including the United States. They must then pay back these loans (with interest) to the Central Bankers, not the United States of America.
Most Americans have no idea of these facts
The Global Ponzi scheme is unraveling much quicker than planned. More talk & visual aids will hit the MSM to create fear in the sheep. Mayan Calendar will be used as a prop to steer control.
BTW.. The next INTERNET scare so all the sheep will purchase new IPv6 software, plastic wrap, bottle water and duck tape. We saw this drill in 1999. It will repeat.
When the Internet Runs Out of IP Addresses
http://hbswk.hbs.edu/item/5968.html
Transition to IPv6
http://www.cisco.com/web/strategy/government/usfed_ipv6.html?POSITION=SEM&COUNTRY_SITE=us&CAMPAIGN=Federal&CREATIVE=Public+Sector&REFERRING_SITE=Google&KEYWORD=ipv6
Again.. Wash, rinse and repeat. IMHO, the poor think tanks are going to find backlash.
Time will tell.
Regarding IPV4 addresses - we would have a lot more 'room' if some of the companies that were assigned large class 'A' blocks of addresses (16 million IPs per block!) would give them up. They aren't using them, not at their full capacity by any means.
I don't know if I'd fold that up into some conspiracy about the internet. It has been a widely known problem for some time now (1980's). We are only now getting close to running out. And by 'close' I mean mid-2011 or so.
Source: http://en.wikipedia.org/wiki/IPv4_address_exhaustion
This is absolutely correct. There is plenty of IPv4 address space. The only supposed "shortage" of this resource is the result of poor management. Does Xerox really need an entire /8 (16,777,216 IPs) for themselves? What about Ford? I don't think so.
IPv6 is a scam to create artificial demand for new IT products and services.
So you are advocating confiscation of private property and voiding the contractual rights of the IP space holders for the "common good"?
"Mayan Calendar will be used as a prop to steer control."
also have a feeling they'll try this. (emphasis on the word 'try') question is: will they succeed or will it backfire so much that it creates exactly what the prophecy intended?
time will tell...
p.s. vote Traficant for House, every single seat. write him in. expose the fraud for what it is, a farce. can't hurt at this point.
dupe
. . . been wondering when this information would turn up "here" - and what the response would be. . .
time will tell, eh Atomizer.
take care.
Bite Me!
I'll be back.
Jew bashers, where are you? Did Woody Wilson cede sovereignty to the tribes? Did Frank Rosenfeld set the stage for the haberdasher's recognition of Israel. Is this why jews vote Democrat?
Why is there only one Jew in the 'R' camp?
Inquiring minds want to know....
Its always fun to watch everyone comment on how worthless these IOUs are but the dollar really is an IOU.
I would join in the fun of mocking California for its inability to pay in dollars but as Doc Holiday said in the movie Tombstone: "My hypocrisy goes only so far."
FRNs are not worthless. Try getting your next Big Mac without them.
Don't look now, but the Hindenberg is burning....
Thanks but I don't eat much fast food.
Federal Reserve Notes have utility but just like these IOUs they have negative long term value.
I am just saying they both have similar flaws and similar poor returns.
..."US Housing Starts are going to be released tomorrow morning at 10:00 am "...
I thinky the number are going to be mind-numbingly bad.
Just wait till tomorrow ... wait till just before numbers are released say about 9:58, then click on this link..
http://www.spike.com/video/hindenburg-disaster/2852512
I'll be the one to say it:
"Oh, the humanity!"
Spalding -- Get your foot off the boat!
A little bit OT but it looks like some judges are getting tough on the SEC and their cream puff settlements with the TBTF's:
http://www.nytimes.com/2010/08/24/business/24judges.html?hp
Has anyone realized that the states held by the libs are in the most trouble? I mean literally, about falling apart.
The states held by the conservatives are still hurting, don't get me wrong, but nowhere near as bad as the dem states.
Of course. And the more liberal, the more bankrupt. See CA, IL, NY, MA as examples. It is not coincidence.
You would think "duh"
Yet, for some reason, there are people who will still vote for Nancy Pelosi/Barney Frank et al.
It's always amazed me how people don't or refuse to make the connection. We get the government we deserve. Present company excluded.
In the immortal words of Pogo;
"We have met the enemy and he is us."
"We have met the enemy and he is them."
The enemy is us--more specifically, those voters who don't understand elementary economics and the fact that there is no such thing as a free lunch anywhere under the sun.
In short, 19th amendment was a really bad idea.