Perry... where is your motion to... Vacate the Speaker's Chair... threats that are not followed thru on make it more difficult to negotiate other settlements... either make the motion or remain silent.
Time for the House to remove McCarthy.... the lies over the surrender to the left are simply the Republican Party's; Bush Light ' moment... When more Democrats vote for McCarthy's deal than Republicans we have serious leadership problems in the RNC/GOP... Our Brand has gone WOKE... Broke in more ways than one can number.
The GOP base must take a serious look at what they are supporting... it isn't our parent's GOP not close. Both political parties have become problematic... questionably bankrupt when supporting American values and our historic Constitutional Republic... we are now a failing state with over 31 Trillion and headed for 34 trillion by 2024...
Someone explain how suspending the Debt Ceiling, adding 60 Billion for IRS Agents, and canceling hundreds of Billions in Student loans reduces the debt, and caps spending. at 1-2% above FY22 levels... By the way, FY 22 spending set a record for the highest-ever federal spending, due to COVID.
McCarthy agreed to suspend the Debt Ceiling ... effectively giving Biden a blank check. He agreed to support at least 2 Trillion in additional debt increases by 2025, silently acknowledging it would be more like 4-5 trillion in new debt. If that wasn't enough caving, the compromise provides student debt forgiveness that could reach trillions... There are so many compromises he made on this bill that one can only ask: What party is he from... Democrat or Republican?
I move .. the floor of the House takes up a motion to vacate the Speaker... he no longer has the confidence of the people or the majority in the House... throw him out if he fails to do the right thing... adjourn the House until the bill pending in the US Senate is signed into law... no negotiating.
Let the GOP shut down the House until further notice... and do it without pay. he
Paul Simmon > Ronald A. Nelson COL, USA, RetiredMay 31, 2023 at 10:00am
I hope that the patriots in the House will step up and throw McCarthy out. According to the agreement that got McCarthy the job, it only takes one to make a move.
We are certainly sick of the same old same old GOP leadership that we have had for years. When are we revolting? When are the patriots in the House revolting?
Let's not forget that this deal can only pass with votes of the demonrats because it is certain that real patriots in the GOP don't vote for it. McCarthy is far short of a majority among Republican members. If this passes with the support of demonrats only, we all know that it is a rotten deal.
The question is: Are there any "Patriots in the House" to step up and throw McCarthy out... I can see McCarthy now as he reneges on his promises saying "That was then and this is now.... and we had to take this road or default on our debt.... as if that were true. The Government has sufficient current revenue streams to pay our debt without borrowing more money... We simply pay our debts out of the current revenue stream, and if necessary we can make across-the-board cuts to fund the remainder of FY 23. We don't BORROW MORE MONEY from the money lenders and loan sharks... ever again.
Government must start downsizing dramatically and rapidly... at least 1/3rd of the government's non-essential personnel and overhead should be cut over the next two sessions of Congress and another 10% a year thereafter, until revenues collected cover current operations and are sufficient enough to pay off our debt in 20yrs.
Congress should consider CAPING the INTEREST paid on our debt... the US Treasury and Congress should set the rate of interest paid on our Treasury bonds (DEBT), not a private bank or auction. If those wanting to invest in our Treasury Bills don't like the rate the US Treasury sets they can invest in the Ghanain Cedi or the Yemen Rial... It is time for the US Treasury to take the helm of our fiscal ship by managing our debt and currency. We need to operate as our own Bank and Clearing House...setting interest rates on our US Treasury Bounds (debt).... independent of the Federal Reserve... We need to shut down and phase out the Fed and let the US Treasury and Congress manage all of our fiscal policy.
Paul Simmon > Ronald A. Nelson COL, USA, RetiredJune 1, 2023 at 6:01am
Every single economics text book says the exact opposite about the role of the Fed and the treasury. I suspect there is unanimity on this issue because every single attempt to follow your idea has ended in disaster throughout history all the way to today in Turkey, where the president and parliament control fiscal and monetary policy. What do you know that all the world's economists don't know?
Warnings against Central Banks... The Federal Reserve Bank is a Central Bank.
Central banking is such a core part of the American economic system that it’s hard to imagine a world without it. However, central banking in the United States is a very recent development – barely over a century old, established in 1913. The Founders warned against central banking, with Thomas Jefferson going so far as to say that he thought a prohibition against central banking was the only thing missing from the Constitution.
While no one could argue that the Founders were opponents of capitalism, they were deeply troubled by the prospect of unchecked speculative capitalism as opposed to productive capitalism. Thomas Jefferson considered central banking to be a bigger threat to liberty than standing armies. What a far cry from both ends of the political spectrum today, who see the needs of the financial sector as the starting point of domestic policy.
“I wish it were possible to obtain a single amendment to our constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its constitution; I mean an additional article, taking from the federal government the power of borrowing.”
“And I sincerely believe with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.”
“Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice.”
“All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation.”
The U.S. Constitution: Articles + Amendments
From Article 1 to the Bill of Rights, this interactive U.S. Constitution is your digital resource to interpreting the nation's most important documen…
Paul Simmon > Ronald A. Nelson COL, USA, RetiredJune 1, 2023 at 4:46pm
Since you already dug into the history, you must have also seen that the creation of the Federal Reserve System in 1913 coincides with less frequent and less sever recessions and depressions. Mind you that the Great Depression, Bretton Woods, etc are all part of an evolution that lead to a fairly stable economic system since Worl War II. This makes it obvious that an independent central bank has benefitted the US tremendously. We don't even have to look at the experiences of other countries who do not have an independent central bank or at the fact that the Fed has helped establish the US Dollar as the world's pre-eminent reserve currency with all the benefits this has for the United States of America. So, in summary, anything other than an independent central bank is a very, very silly idea.
I have written extensively on th benefits of the US Dollar as the world reserve currency.... however, that has nothing to do with the FED... kt has everything to do with the historic stability of the US Dollar and its Constitution's requirement that our currency be backed by Gold and Silver... Not by Fiat Bank Notes.
You are aware that the current US Dollar is not backed by Gold or Silver... only the full faith and credit of the USA... and what is that worth today? Wake up.. the Banks appear to have pulled off the greatest wealth transfer in history. They exchanged their US Treasury Gold and Silver Certificates for Gold and Silver, long ago... They effectively redeemed them using Federal Reserve Bank Notes. The Federal Reserve Bank's gurantees to accept them as the currency of exchange for all debts and commercial transactions (legal tender). The public received paper Federal Reserve Notes in exchange for their US Treasury Certificates backed by gold and silver... which the banks immediately redeemed for gold and silver.
Why do you think every call for auditing our gold and silver reserves... goes unanswered. How much gold and silver remains in Ft. Knox? Do you know? Does anyone in Congress know? Does the US Treasury know... if so how much is there?
Paul Simmon > Ronald A. Nelson COL, USA, RetiredJune 4, 2023 at 6:53am
Is that so? "It has everything to do with the historic stability of the US Dollar and its Constitution's requirement that our currency be backed by Gold and Silver." The dollar hasn't been backed by gold and silver in more than 50 years. Since then the dollar has become even more powerful in international finance. Isn't that weird? Especially when you consider that the independent Fed was the only guarantor of the dollar's stability in that time period? How do you explain that?
Replies
Perry... where is your motion to... Vacate the Speaker's Chair... threats that are not followed thru on make it more difficult to negotiate other settlements... either make the motion or remain silent.
Time for the House to remove McCarthy.... the lies over the surrender to the left are simply the Republican Party's; Bush Light ' moment... When more Democrats vote for McCarthy's deal than Republicans we have serious leadership problems in the RNC/GOP... Our Brand has gone WOKE... Broke in more ways than one can number.
The GOP base must take a serious look at what they are supporting... it isn't our parent's GOP not close. Both political parties have become problematic... questionably bankrupt when supporting American values and our historic Constitutional Republic... we are now a failing state with over 31 Trillion and headed for 34 trillion by 2024...
Someone explain how suspending the Debt Ceiling, adding 60 Billion for IRS Agents, and canceling hundreds of Billions in Student loans reduces the debt, and caps spending. at 1-2% above FY22 levels... By the way, FY 22 spending set a record for the highest-ever federal spending, due to COVID.
McCarthy agreed to suspend the Debt Ceiling ... effectively giving Biden a blank check. He agreed to support at least 2 Trillion in additional debt increases by 2025, silently acknowledging it would be more like 4-5 trillion in new debt. If that wasn't enough caving, the compromise provides student debt forgiveness that could reach trillions... There are so many compromises he made on this bill that one can only ask: What party is he from... Democrat or Republican?
McCarthy must resign... or be removed...
I move .. the floor of the House takes up a motion to vacate the Speaker... he no longer has the confidence of the people or the majority in the House... throw him out if he fails to do the right thing... adjourn the House until the bill pending in the US Senate is signed into law... no negotiating.
Let the GOP shut down the House until further notice... and do it without pay. he
I hope that the patriots in the House will step up and throw McCarthy out. According to the agreement that got McCarthy the job, it only takes one to make a move.
We are certainly sick of the same old same old GOP leadership that we have had for years. When are we revolting? When are the patriots in the House revolting?
Let's not forget that this deal can only pass with votes of the demonrats because it is certain that real patriots in the GOP don't vote for it. McCarthy is far short of a majority among Republican members. If this passes with the support of demonrats only, we all know that it is a rotten deal.
Paul...
The question is: Are there any "Patriots in the House" to step up and throw McCarthy out... I can see McCarthy now as he reneges on his promises saying "That was then and this is now.... and we had to take this road or default on our debt.... as if that were true. The Government has sufficient current revenue streams to pay our debt without borrowing more money... We simply pay our debts out of the current revenue stream, and if necessary we can make across-the-board cuts to fund the remainder of FY 23. We don't BORROW MORE MONEY from the money lenders and loan sharks... ever again.
Government must start downsizing dramatically and rapidly... at least 1/3rd of the government's non-essential personnel and overhead should be cut over the next two sessions of Congress and another 10% a year thereafter, until revenues collected cover current operations and are sufficient enough to pay off our debt in 20yrs.
Congress should consider CAPING the INTEREST paid on our debt... the US Treasury and Congress should set the rate of interest paid on our Treasury bonds (DEBT), not a private bank or auction. If those wanting to invest in our Treasury Bills don't like the rate the US Treasury sets they can invest in the Ghanain Cedi or the Yemen Rial... It is time for the US Treasury to take the helm of our fiscal ship by managing our debt and currency. We need to operate as our own Bank and Clearing House...setting interest rates on our US Treasury Bounds (debt).... independent of the Federal Reserve... We need to shut down and phase out the Fed and let the US Treasury and Congress manage all of our fiscal policy.
Every single economics text book says the exact opposite about the role of the Fed and the treasury. I suspect there is unanimity on this issue because every single attempt to follow your idea has ended in disaster throughout history all the way to today in Turkey, where the president and parliament control fiscal and monetary policy. What do you know that all the world's economists don't know?
Warnings against Central Banks... The Federal Reserve Bank is a Central Bank.
Central banking is such a core part of the American economic system that it’s hard to imagine a world without it. However, central banking in the United States is a very recent development – barely over a century old, established in 1913. The Founders warned against central banking, with Thomas Jefferson going so far as to say that he thought a prohibition against central banking was the only thing missing from the Constitution.
While no one could argue that the Founders were opponents of capitalism, they were deeply troubled by the prospect of unchecked speculative capitalism as opposed to productive capitalism. Thomas Jefferson considered central banking to be a bigger threat to liberty than standing armies. What a far cry from both ends of the political spectrum today, who see the needs of the financial sector as the starting point of domestic policy.
Since you already dug into the history, you must have also seen that the creation of the Federal Reserve System in 1913 coincides with less frequent and less sever recessions and depressions. Mind you that the Great Depression, Bretton Woods, etc are all part of an evolution that lead to a fairly stable economic system since Worl War II. This makes it obvious that an independent central bank has benefitted the US tremendously. We don't even have to look at the experiences of other countries who do not have an independent central bank or at the fact that the Fed has helped establish the US Dollar as the world's pre-eminent reserve currency with all the benefits this has for the United States of America. So, in summary, anything other than an independent central bank is a very, very silly idea.
I have written extensively on th benefits of the US Dollar as the world reserve currency.... however, that has nothing to do with the FED... kt has everything to do with the historic stability of the US Dollar and its Constitution's requirement that our currency be backed by Gold and Silver... Not by Fiat Bank Notes.
You are aware that the current US Dollar is not backed by Gold or Silver... only the full faith and credit of the USA... and what is that worth today? Wake up.. the Banks appear to have pulled off the greatest wealth transfer in history. They exchanged their US Treasury Gold and Silver Certificates for Gold and Silver, long ago... They effectively redeemed them using Federal Reserve Bank Notes. The Federal Reserve Bank's gurantees to accept them as the currency of exchange for all debts and commercial transactions (legal tender). The public received paper Federal Reserve Notes in exchange for their US Treasury Certificates backed by gold and silver... which the banks immediately redeemed for gold and silver.
Why do you think every call for auditing our gold and silver reserves... goes unanswered. How much gold and silver remains in Ft. Knox? Do you know? Does anyone in Congress know? Does the US Treasury know... if so how much is there?
Is that so? "It has everything to do with the historic stability of the US Dollar and its Constitution's requirement that our currency be backed by Gold and Silver." The dollar hasn't been backed by gold and silver in more than 50 years. Since then the dollar has become even more powerful in international finance. Isn't that weird? Especially when you consider that the independent Fed was the only guarantor of the dollar's stability in that time period? How do you explain that?
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