In response to:

Push the Fed Over the Cliff

John112 Wrote: Dec 03, 2012 12:04 PM
The fallacy of Geithner's stated goal of a “stabilized debt” is that the Fed uses debt to create the money needed for economic growth. More debt is also created by the banks in our economic system. And therefore, more debt is needed both for growth and to pay for the existing debt. There is very little money that has not been created as debt in our economy. So, under this debt-based monetary system promoted by Geithner, debt can never be “stabilized”. Under this monetary system, debt will not stop growing until recession and default occur. And, that is where the risk lies that Congress and the President must now address in order to avoid default and economic collapse.
John112 Wrote: Dec 03, 2012 12:05 PM
in order to END THE DEBT, we must convert to an interest-free currency and end the use of debt by government. This will allow us to return to a balanced budget in which spending is covered by taxation and NO spending is hidden from taxation. Until this is done, there can be no reduction in the risk of default on our debt and debt will not be “stabilized”. Other solutions simply delay this default problem but risk simply becomes more difficult to manage as debt continues to grow.

And remember, this sovereign debt debate is about the people, not the government. It is about protecting the people from the risks of debt and overspending by government.
John112 Wrote: Dec 03, 2012 12:05 PM
The people have NO protection if we continue to allow Congress to use debt to spend without concomitant taxation. Fortunately, debt is not needed to create our money supply this way. Thus, ending the use of debt is not a difficult choice. This choice is the right path to the solution we seek – balancing the budget without slowing economic growth so that full employment is attained.

Only by ending the use of debt can we return to the system established under the constitution in which the people who pay decide the amount of their earnings that can be taken. The present debt-based system has destroyed the spending process in Congress that lenders and spenders now control.

We cannot allow lenders to continue to corrupt this process and
John112 Wrote: Dec 03, 2012 12:06 PM
We cannot allow lenders to continue to corrupt this process and take the earned wealth of the people out of our economy. Ending this corruption will put the people back in control of their wealth creation. If we end the distribution of taxes to the lenders, then no thoughts of redistribution need be considered.

Stop worrying about the ‘fiscal cliff.’ Spending cuts would feel therapeutic after watching Standard & Poor's and Egan-Jones downgrade our credit rating and seeing President Obama add $6 trillion to the national debt. The way to avert another recession and massive inflation is to eliminate the unconstitutional Federal Reserve.

There are two ways for politicians to “pay” for their spending. They can be transparent and raise taxes extremely high across all income levels. (This is not happening because politicians know Americans would riot.) Or, they can be sneaky and “monetize the debt,” which means allowing the Federal Reserve to print money...