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alstry (35.33)

When Money Is A Fraud....

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December 02, 2010 – Comments (1)

Money is backed by the Full Faith and Credit Of The United States....

The Full Faith and Credit of America is backed by America's production......

For the past 10 years, Wall Street has been outsourcing more and more of America's production overseas and replacing it with ever increasing amounts of debt......

As a matter of fact, America borrowed more money in the past 10 years than it did in the previous 200 years since our inception.

As more and more of our production was outsourced....we became more and more dependent on borrowing to function.....until we reached the point where we are now.....

Where there is no longer enough money in the world to lend to our government to meet its obligations so government must resort to outright monetization to keep functioning.

Things have gotten so fraudulent that our public compannies are borrowing money from pension funds to fund their pension funds.....

Bankrupt cities are borrowing from pension funds with the debt being guaranteed by a bankrupt Federal Government to function....

We essentially lose all property rights when a government can tax you whatever it wants.....bail out whoever it wants......and destroy whatever or whoever it wants.....by deciding who gets a loan from a bankrupt system and who doesn't.

As an attorney, I am not sure how any contract is enforcible any more.....

The banks lack capacity to make the loan....making the loan void at inception.

The borrowers can't pay back the loan, absent more credit being extended, making the loan fraudulent at the inception......

It is strange times indeed when our entire system is directly or indirectly functioning off of fraudulent money......how you determine property rights in such a system is anyone's guess......

We could wake up one morning an learn that our banking system is bankrupt, that our cities, counties and states are bankrupt, that our Federal Government is bankrupt, that our pension funds are bankrupt, that the FDIC and Pension Guaranty is bankrupt...............

but in a nation founded under the rule of law.....who gives a damn about the law.....

1 Comments – Post Your Own

#1) On December 02, 2010 at 2:52 PM, alstry (35.33) wrote:

Why this is different.....

In the past, money was backed by gold and silver.......an item independent from the paper....

So if the money was fraud....there was still a backing......

No world currencies are fiat......backed by "production".......

The problem is what is a currency worth if there is little or no production backing it......

And for the past three years you have been reading Alstry's blog documenting the ever shrinking production of America's primarily consumer criven economy......as credit was cut off to the private sector and Wall Street outsourced our production in large part by being bailed out by the taxpayers they are outsourcing.....

Crazy....our money now is simply the product of a loan that is unlikely to ever be paid back..........

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