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Bloomberg: Don't Panic, USA Has 'Infinite Amount of Money'
#1
I guess he thinks it grows on trees.

By Colin Campbell

“We are spending money we don’t have,” Mr. Bloomberg explained. “It’s not like your household. In your household, people are saying, ‘Oh, you can’t spend money you don’t have.’ That is true for your household because nobody is going to lend you an infinite amount of money. When it comes to the United States federal government, people do seem willing to lend us an infinite amount of money. … Our debt is so big and so many people own it that it’s preposterous to think that they would stop selling us more. It’s the old story: If you owe the bank $50,000, you got a problem. If you owe the bank $50 million, they got a problem. And that’s a problem for the lenders. They can’t stop lending us more money.”

LINK: http://politicker.com/2013/03/mayor-bloo...sequester/
Live Free or Die
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#2
Gosh, what an idiot.
Error 396: Signature cannot be found.
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#3
How much is he contributing to solve the problem?
The Second Amendment does not GIVE us the right. It tells the gov they can not infringe our right.
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#4
Dear Mayor Bloomberg:

If everyone is so giddy about buying our debt why is the Fed buying nearly all 10 yr+ issuance with printed money?
Deal_me_in, proud to be a member of pa2a.org since Sep 2012.
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#5
It's not a good thing but is pretty much accurate.
Dave, proudly annoying members of pa2a.org since Sep 2012.
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#6
Dave;84554 Wrote:It's not a good thing but is pretty much accurate.

Sure, when you own the printing presses you always have an infinite amount of money or whatever else you need.Sad
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USAF (1976 -1986) NRA, GOA Anim_sniper2
"The problems we face today are there because the people who work for a living are outnumbered by those who vote for a living." Dan Cofall
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#7
billamj;84556 Wrote:Sure, when you own the printing presses you always have an infinite amount of money or whatever else you need.Sad

Not infinite but enough in this case. As long as the dollar remains the worlds reserve currency and interest payments keep being made it could go on for a every long time. The problems will start when faith in the US disappears which is unlikely in the near term, apologies to gun forum posters. Smile
Dave, proudly annoying members of pa2a.org since Sep 2012.
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#8
Dave;84559 Wrote:
billamj;84556 Wrote:Sure, when you own the printing presses you always have an infinite amount of money or whatever else you need.Sad

Not infinite but enough in this case. As long as the dollar remains the worlds reserve currency and interest payments keep being made it could go on for a every long time. The problems will start when faith in the US disappears which is unlikely in the near term, apologies to gun forum posters. Smile

Everything is always fine until it isn't. I don't necessarily disagree with you that a currency collapse isn't imminent, but these things are rarely accurately predicted by mainstream economists let alone by Dave from the gun board. Are you saying that you support borrowing/printing at unsustainable levels for now?
Deal_me_in, proud to be a member of pa2a.org since Sep 2012.
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#9
Deal_me_in;84564 Wrote:
Dave;84559 Wrote:Not infinite but enough in this case. As long as the dollar remains the worlds reserve currency and interest payments keep being made it could go on for a every long time. The problems will start when faith in the US disappears which is unlikely in the near term, apologies to gun forum posters. Smile

Everything is always fine until it isn't. I don't necessarily disagree with you that a currency collapse isn't imminent, but these things are rarely accurately predicted by mainstream economists let alone by Dave from the gun board. Are you saying that you support borrowing/printing at unsustainable levels for now?

There is talk of making the Yuan the world's reserve currency, probably because the Chinese central committee has had a policy of buying gold bullion for the past year or so. Not sure how viable it would be but...
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USAF (1976 -1986) NRA, GOA Anim_sniper2
"The problems we face today are there because the people who work for a living are outnumbered by those who vote for a living." Dan Cofall
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#10
billamj;84565 Wrote:There is talk of making the Yuan the world's reserve currency, probably because the Chinese central committee has had a policy of buying gold bullion for the past year or so. Not sure how viable it would be but...

Honestly don't think we will ever see that in our life times for a number of reasons, mainly that no country in Asia would ever trust China with that much power. The yuan as well as export manufacturing is also still too centrally controlled. And yes, by leaps and bounds over us.

What is interesting to me is not the gold buying but how they are spending all them dollars buying up mineral rights around the world, most notable Africa.
Dave, proudly annoying members of pa2a.org since Sep 2012.
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