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Vet67to82 (< 20)

Debt and Assets - new thinking NEEDED

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April 10, 2009 – Comments (6) | RELATED TICKERS: DXO.DL.DL2 , FAS , XOM

  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 ...  

6 Comments – Post Your Own

#1) On April 10, 2009 at 1:25 PM, motleyanimal (48.86) wrote:

 "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."

Absolutely! The outsourcing of our IT work by IBM and others is a huge security risk, aside from costing the nation so many jobs. I oppose trade protectionsim, but not when it comes to jobs vital to the infrastucture of our defense and energy sectors.

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#2) On April 10, 2009 at 2:12 PM, MikeMark (29.51) wrote:

Interesting. You are making the assumption that the government is or can be run like a rational business. It isn't. I think it was at one time and it could be again, but law and liberty must be reestablished. I recommend reading Vision by Leonard E. Read for further enlightenment.

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#3) On April 10, 2009 at 2:12 PM, Vet67to82 (< 20) wrote:

Thanks for your reply motleyanimal.   Call for customer service on anything ... where does your call go?   The people answer your call in another COUNTRY ...    A big concern to all of us is identity theft ... yet companies, like AT&T, are exporting USA dollars as well as our personal info, names, addresses, who we call, when we call, etc to non-USA people ...   

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#4) On April 10, 2009 at 2:20 PM, devoish (96.26) wrote:

When you sent your letter at $100/bbl, not only did GWB not take profits, he was filling the reserve and had been since 2001, beginning around $25/bbl. Much of that oil was purchased at higher prices than todays and represents a paper loss. It was only until Congress pressured GWB did purchases stop, at nearly the peak.

The reserve represents about 75 days of oil and should be kept for its intended purpose. Defense, if attacked and supplies cut off. The additional capacity that GWB added, up to 1.5bil bbls should be filled at todays prices. Not sold off.

Your advice was good when you sent the letter, since then things have changed.

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#5) On April 10, 2009 at 2:27 PM, yukonmike (60.74) wrote:

Why would we sell those assets at any price to raise captial?  We have a printing press, remember?  The more worthless our currency becomes the more valuable those assets become...bring on hyper inflation I say!!!

Hope this is taken with a grain of salt : )

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#6) On April 10, 2009 at 2:49 PM, Vet67to82 (< 20) wrote:

I thank each of you for your replies.  Discussion is good.  I hope to inspire debate, and the exchange of ideas, even opposing view points are welcome,  and feel free to tweek mine.  In the end, if we can arrive at a consensus that can be expressed as constructive comments, constructive suggestions, and constructive recommendations, to our elected officials we stand to benefit from the effort. 

Remember, and please excuse my paraphrase:

All evil needs to triumph, is for men and women of good conscience to do nothing. 

 

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