[extropy-chat] POLITICS: 537 Economists Criticize Bush and Kerry

[Trend Ologist]

If you scroll down, this economist discusses the same
topic towards the end of his forecast record:
http://www.ravibatra.com/my_forecasting_record.htm


> While some of the debt is to other nations, those
> nations use that debt
> as a reserve to back their own currencies. If we
> paid off those debts
> (with federal reserve notes, which are themselves
> debts), their
> currencies would tailspin into inflationary
> recessions. Most of the
> debt is actually to other Americans. Some of that is
> held by Americans
> who hold their assets in offshore instruments (which
> are themselves
> 'non-resident alien corporate persons') while others
> hold the debt
> directly.
> 
> The only real way to pay off those debts with real
> assets is to give
> federal lands to those who hold the debt.
> 
> =====
> Mike Lorrey
> Vice-Chair, 2nd District, Libertarian Party of NH
> "Necessity is the plea for every infringement of
> human freedom.
> It is the argument of tyrants; it is the creed of
> slaves."
>                                       -William Pitt
> (1759-1806) 
> Blog:
> http://www.xanga.com/home.aspx?user=Sadomikeyism
> 
> 
> 		
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