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View Diary: Legislation Constipation (23 comments)

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  •  The federal government borrowing its own (0+ / 0-)

    currency is ludicrous.
    Why do we issue currency to banks so we can borrow it back? Because banksters have gotten used to a steady trickle of guaranteed income. Why are state income streams being artificially constricted? To force them to issue bonds and a higher rate of dividend payments than U.S. Treasuries are providing. Why is there an interest in increasing the rate of unearned income streams?  Because tradition demands that it be higher than it now is.
    The cache of dollars is increasingly worthless, if it isn't increasing at a regular pace. The one percent have been spoiled by decades of effortlessly increasing their hoard.

    Why do members of Congress go along with this charade? Because their ability to ration the currency and crash the economy makes them feel important. They'd rather do that than carry out their obligations as public servants.

    We organize governments to deliver services and prevent abuse.

    by hannah on Thu Dec 27, 2012 at 05:39:57 AM PST

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