1/26 Oh, bummer, Mr. "It's Already Been Spent" deleted our argument.
I wanted to ask him if the excuse "It's Already Been Spent"
was valid to use when asked to repay any debt. I have some
T-Bills that are due in 2012. Should the US government just
shrug its shoulders and say "Sorry buddy, it's already been
spent"?
\_ you seem to misunderstand the distinction between making
the loan to yourself and to someone else. Money does not
just magically appear. Either you raise taxes or your
create inflation.
\_ So it is not possible for one division of Ford Motor
Company to lend money to another?
\_ What you are talking about is similar to what
Tyco, Enron, etc. did during the late '90s.
One division of Ford makes another a loan who
spends that money. Ford Motor now reports this
internal loan on its balance sheet as interest
generating asset. Do you see the problem?
Only in the lala land of the Democrats and
RINOs can you loan yourself money, spend it,
pay yourself interest on the loan, and not
only have incurred a net loss but gained!!
One more time, the notes owned by SS are
effectively one of two things, higher taxes
or inflation. |