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[quote user="Juan"]I'm not introducing an assumption. I'm introducing a fact . The automakers don't have enough money to pay their debts that's why they are going broke. They have no equity left.[/quote] If in fact the automakers have no mortgagable assets, the loan couldn't...
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[quote user="liberty student"]Well the agency that prints up script, by legal fiat, gets to take real goods and services out of the economy with paper titles it creates out of thin air.[/quote] Lincoln financed the Civil War with $400 million he printed out of thin air. Do you think he should...
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[quote user="liberty student"] [quote user="Warren Raftshol"]Who, exactly, is being coerced?[/quote] Everyone who has to use scrip to pay their taxes.[/quote] Nobody has ti use scrip - you can pay your taxes in gold if you prefer.
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[quote user="liberty student"] Right, so it is not full reserve. Thank you for admitting that it is backed by NOTHING but the words of men.[/quote] What I mean by full reserve is that the scrip is not pyramided 1,000% by banks. The courts enforce obligations.
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[quote user="Juan"]You are seriously arguing that the ability of the state of Michigan to counterfeit money is less harmful than the fed's ability to do the same thing ?[/quote] I would object to 'counterfeit' but would say that non-interest bearing scrip is better than debt backed...