Debt and Assets - new thinking NEEDED
The USA currency is backed by the USA TAXPAYERS, the USA Gov't, and all the Assets the USA gov't owns. The failure of those critical of the debt load is in that they are stuck thinking "in the box" and failing to consider (1) all the assets the gov't (WE, the people) owns, (2) all the yet to be discovered (potential assets) assets, and (3) assets that are just plain overlooked 'cuz NO one thinks of them as assets.
Everyone knows about the gold in Fort Knox. Everyone considers that an asset. Has anyone bothered to consider the PRICES the USA gov't accumulated the gold at ... and the UNREALIZED PROFIT the USA gov't is sitting on? $$ BILLIONS $$ ...
Well, what about the 700+ MILLION barrels (bbl) of crude in the Strategic Petroleum Reserve (SPR). Look at the US EIA website. Look at when the USA started filling the SPR and what the crude PRICES were at the time. The USA gov't has $$ Billions in UNREALIZED profits sitting in the SPR. When crude hit above $100 per bbl, I knew that was unsustainable. I sent e-mails to multiple US Congress persons, including Senator,now President B. Obama, suggesting to "take profits." Sell 200 million bbls or so, At $140/bbl, that would be $28,000,000,000.00 Twenty eight billion dollars. Use the "profits" to fund the necessary infrastructure repairs, build outs, and energy projects (like new nuclear power plants) we, the people need, along with the jobs that would create. For the power plants, I suggested examining the shortages in the existing electrical gride and using now dormant military bases in overlapping areas, build the plants, and sell the electricity to the power companies as a supplier. That would create a steady stream of income to the USA gov't. You KNOW the sale of crude from the SPR would drive crude prices DOWN, all by itself. They could refill the SPR with the earnings from the power plants at LOWER prices, The people win with jobs. The people win with lower crude prices. The people win with a gov't that looks to the future and actually EARNS money instead of taking it from the blood, sweat. and tears of its people.
Take (3) assets that are just plain overlooked 'cuz NO one thinks of them as assets as an example. By international law the USA "owns" a 200 mile from its shoreline economic developement zone. With thousands of miles of shoreline times 200 equals millions of square miles for fishing, for exploration for crude, gold, and other precious commodities. Because the gov't chose to impose a multi-decades long ban against offshore wells - for the singular reason that " it would spoil the view ", we as a people have exported trillions of dollars to import crude to run our cars, to heat our homes ... Technology has changed, the impossible is now achievable and environmentally safe and secure.
Here's another example of (3) assets that are just plain overlooked 'cuz NO one thinks of them as assets. The USA citizens. Each and everyone of them. The USA gov't has allowed the export of jobs and technologies to other countries to the detriment of all USA citizens. That MUST stop.
---- > Now, if you go through my posts, you will see all the other (hopefully) constructive suggestions, comments, and recommendations that I've made, and when I made them, to the MFool community and to our elected officials - who thanked be but didn't listen 'cuz I was just ONE voice. I could detail, herein, ALL the other assets, overlooked, unappreciated, etc assets, of the USA govt, and the USA people that COULD be PRODUCING INCOME and reducing the deficit, reducing the trade imbalance, reducing the burden imposed upon the taxpayers, but I want to see if you "get it." The "it" is the "outside the box" inspiration (creativity) necessary to look at the assets as more than just lumps , or items in an inventory, and how those assets can be PUT TO WORK to the benefit of us ALL. You need to get " it" for the well being of yourself, your family, friends, co-workers .... community, etc. So, I suggest looking around and let's use this group to detail USA assets backing our USA currency and let's see if WE can find assets that can be put to income producing work, and then express OUR findings in constructive comments, constructive suggestions, and constructive recommendations, to our elected officials with a MULTITUDE of voices that they can't ignore.
The balls in your court ...