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Opinions/Editorials
See other Opinions/Editorials Articles

Title: LET’S END THIS DEBT CEILING DEBATE WITH A $1 OZ. $1T COIN
Source: Pragmatic Capitalism
URL Source: http://pragcap.com/lets-end-this-de ... ing-debate-with-a-1-oz-1t-coin
Published: Jul 7, 2011
Author: Cullen Roche
Post Date: 2011-07-09 00:54:08 by lucysmom
Keywords: Debt Ceiling, Treasury vs Congress
Views: 59819
Comments: 102

A reader points out a very interesting loophole in the debt ceiling debate that would give the US Treasury the ability to tell the US Congress to take their fearmongering and shove it you know where. Reader “Beowulf” notes:

“No, Tsy isn’t authorized to just “print” money, the Federal Reserve Act gives that power to the Fed, However, the Coinage Act grants the Secretary of the Treasury rather broad coin seigniorage authority. Geithner could sidestep the debt ceiling this afternoon by ordering the West Point Mint to coin a 1 oz. $ 1 trillion coin. Tsy can then present the jumbo coins at the NY Fed to buy back $1 trillion in Fed-held debt (the Fed has to accept it, a creditor can’t refuse legal tender paid in to settle a debt):

(h) The coins issued under this title shall be legal tender… (k) The Secretary may mint and issue platinum bullion coins and proof platinum coins in accordance with such specifications, designs, varieties, quantities, denominations, and inscriptions as the Secretary, in the Secretary’s discretion, may prescribe from time to time.”

The simple threat of doing this would end this debate right here and right now. It’s time for Congress to stop playing Russian roulette with the US economy. If you want to take a stand on spending then do so before you pass legislation that causes us to run up into the debt ceiling. Don’t use some phony law to try to scare people into thinking that we are Greece (something that’s entirely impossible anyhow).

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#34. To: mcgowanjm (#30) (Edited)

SS is completely solvent and will be for at least 20 more years...

Wrong. Social Security started running an annual deficit this year and will continue to do so as the baby boomers flood into the system. It's broke.


"Everything that can be invented has been invented."-- Charles Duell, Commissioner of US Patent Office, 1899

jwpegler  posted on  2011-07-11   10:19:50 ET  Reply   Trace   Private Reply  


#35. To: jwpegler (#34)

Social Security started running an annual deficit this year and will continue to do so as the baby boomers flood into the system. It's broke.

No it's not broke, it has a $2.6 trillion dollar surplus. (wouldn't Wall Street high rollers love to get their hands on that! What percentage do you think they'd take in bonuses?)

Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized.

lucysmom  posted on  2011-07-11   10:56:10 ET  Reply   Trace   Private Reply  


#36. To: Badeye (#33)

The rationalizations for doing so are very similiar to a drunk's reasoning for demanding he be given another bottle of Jack Daniels.

Not hanging out with drunks, I wouldn't know what that might be.

What I do know is that if we don't pay our bills, we've broken our word.

Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized.

lucysmom  posted on  2011-07-11   11:01:48 ET  Reply   Trace   Private Reply  


#37. To: lucysmom (#35) (Edited)

it has a $2.6 trillion dollar surplus

Your brain has wandered off to Fantasy Land once again. What a surprise.


"Everything that can be invented has been invented."-- Charles Duell, Commissioner of US Patent Office, 1899

jwpegler  posted on  2011-07-11   11:02:09 ET  Reply   Trace   Private Reply  


#38. To: jwpegler (#34)

Right.

Raygun/Greenspan SS/FICA tax.

All of which was taken and replaced with IOU's.

You or I did that we'd be put under the jail...

For 30 years. How much longer do we wait for Reagan's Shining City on the Hill....8D

mcgowanjm  posted on  2011-07-11   11:08:15 ET  Reply   Trace   Private Reply  


#39. To: jwpegler lucysmom, All (#37)

it has a $2.6 trillion dollar surplus

Your brain has wandered off to Fantasy Land once again. What a surprise.

FOX NEws not very entertaining this AM, eh jw? ;}

#

Get more discussion results # Fixing Social Security – Permanently « US Public Policy / John ... uspublicpolicy.com/johnkoraska/blog/?p=19 - Cached Oct 19, 2010 – The huge cost increases of paying Social Security, Medicare, and Medicaid ... The surplus FICA cash is replaced by US Treasury IOUs and put in the Trust Funds. ... The 1983 Greenspan commission on Social Security reforms resulted in Ronald Reagan raising: FICA OASDI tax rates, taxable wage base, ... # Paul Ryan's Killing of Social Security and Medicare mondaymorningeconomist.com/pualryan.html - Cached

The GOP has hated Social Security and Medicare from day one, they just know ... fund ... is no reserve at all' [because it contains nothing but government IOUs], ... courtesy of Reagan and Greenspan raising the payroll deductions to SSA and ... To the employer who ponies up half of the FICA, Social security and ... #

mcgowanjm  posted on  2011-07-11   11:11:10 ET  Reply   Trace   Private Reply  


#40. To: lucysmom (#36)

What I do know is that if we don't pay our bills, we've broken our word.

Raising the debt ceiling doesn't pay our bills. It only allows this administration to continue to write BAD CHECKS, further excerbating the debt crisis we already face.

And it will in fact 'break the word' to American Taxpayers...not that you on the Left give a rats ass about THAT.

Finally, I'm sure you are very familiar with drunks goofy. I don't believe anyone could suffer you without being drunk first.

Proxy IP's are amusing.....lmao

Badeye  posted on  2011-07-11   11:12:14 ET  Reply   Trace   Private Reply  


#41. To: Badeye (#40)

Raising the debt ceiling doesn't pay our bills.

You need to do more research.

And it will in fact 'break the word' to American Taxpayers...

Rather the Republican politicians word to Grover Norquist.

Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized.

lucysmom  posted on  2011-07-11   11:21:29 ET  Reply   Trace   Private Reply  


#42. To: lucysmom (#35)

[Social Security] has a $2.6 trillion dollar surplus. (wouldn't Wall Street high rollers love to get their hands on that! What percentage do you think they'd take in bonuses?)

You are a complete moron.

“If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.”
-- Joseph Goebbels --

The State can no longer hide the consequences of their 100-year lie. VERY interesting times are ahead.

Capitalist Eric  posted on  2011-07-11   11:22:43 ET  (1 image) Reply   Trace   Private Reply  


#43. To: Capitalist Eric (#42)

You are a complete moron.

More of your Aspergers symptoms. Since there are drugs that will make you seem a bit more normal I suggest you see a doc, but in the meantime you really are getting to be booooorrrrring with your totally predictable routine.

mininggold  posted on  2011-07-11   11:28:35 ET  Reply   Trace   Private Reply  


#44. To: All (#39)

See, this is why I knew we were fucked from Raygun's Election:

# LIBRADEX ** Why the SS Trust Fund is meaningless www.libradex.com/viewArticle.aspx?id=8 - Cached So if SS ran a $100 billion surplus, Congress spends the $100 billion and ... But that means the Treasury has that fewer dollars to spend on ... and we owed $300 billion to SS/Medicare...you guessed it, we'd have a $300 billion deficit. ...

Å8; # Social Security's Effect On The Treasury: Why We Are “Effed” : The ... blog.ml-implode.com/.../social-securitys-effect-on-the-treasury-why... - Cached Dec 8, 2010 – These are simply payments to the SS bureau as “interest owed” on SS's Treasury securities (these are what are referred to every time you ...

And that People don't get what Ponzi's are.

No one is hiding ANY money!!!

They're hiding the ACCUNTING of that money as it DISAPPEARS.

We've been broke since 1987... And now we're INSOLVENT.

mcgowanjm  posted on  2011-07-11   11:29:15 ET  Reply   Trace   Private Reply  


#45. To: Capitalist Eric (#42)

Sooner or later the lovers of freedom get around to "STFU".

Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized.

lucysmom  posted on  2011-07-11   11:29:31 ET  Reply   Trace   Private Reply  


#46. To: mininggold (#43)

Hey, whiningold/loonymom, what are your qualifications to diagnose Aspergers? Or is it just a reflexive device used to avoid debate? You and your 'shadow' are always posting in tandem.

war has to do something for entertainment. The voices in his head aren't speaking to him and his imaginary friends have found reasons not to come over anymore.

Rudgear  posted on  2011-07-11   11:33:07 ET  Reply   Trace   Private Reply  


#47. To: lucysmom (#45)

Sooner or later, the egalitarian left wants to shut down debate when they can't offer anything other than BS like Aspergers.

war has to do something for entertainment. The voices in his head aren't speaking to him and his imaginary friends have found reasons not to come over anymore.

Rudgear  posted on  2011-07-11   11:34:38 ET  Reply   Trace   Private Reply  


#48. To: lucysmom (#41)

You're exactly correct, LM.

Oh, and Almost forgot this...

Remember Way back when, bush43 had just Stolen his 2nd Slection with 8 Million Born Again Fundies coming from Outer Space to vote for the very first time?

And then not two months later comes out and says, 'I've got Political Capital and I'm going to spend it'?

What was he going to do?

PRIVATIZE SS and give it to WALL ST....LMFAO

" Not while I'm President. I'll fight with everything I've got to stop those who would gamble your Social Security on Wall Street."

Yet a month later when I questioned David Plouffe about the President's committment to Social Security at the Harkin Steak Fry, I got a non-answer that made chills run up my spine..."They want to weaken and destroy it. We want to fix it."

Try that answer on someone who doesn't know that it doesn't need fixing because it ain't broke, and who went to school back when they taught us how to diagram sentences so we can decypher what those who look at the trust fund with a lustful, impure eye are really saying: "In order to avoid future benefit cuts, we must cut future benefits. Ditto raising the retirement age."

Didn't we put some people in military prison for destroying villages in order to save them?

The fact of the matter is, Social Security is not only not responsible for our deficit woes, it is independent of the deficit /and/ it is solvent for decades. Period. Full stop.

That CBO report finds that the Social Security OAS (Old Age/Survivors) Trust Fund, without changing a thing, will be able to make full payouts through 2039 -- it should also be noted that the full payout projections have been pushed downward by the economic downturn of the last couple of years, and those numbers should start moving the other way as the economy recovers. And if that isn't the case, we have a lot bigger problems than Social Security coming down the pike.

And even if the trust fund were to run out, Social Security would still be in pretty good shape. The OAS Trust Fund, established with the Social Security Amendments of 1939, is considered to be fully funded (in SS Speak in 'Short Term Actuarial Balance') if it has reserves equal to 100% of the next year's cost. As it turns out it fell out of balance in 1971 and despite some tweaks in 1977 continued to fall until it flirted with zero in 1982. Which led to the creation of the Greenspan Commission and its two part fix. The first part was intended to put the Trust Fund back in Short Term Balance, a task that was complete by 1993. The second part was to build the Trust Fund sufficiently over that minimum to fund benefits ON AVERAGE over the next 75 years. That was pretty successful as well, leaving the current Trust Fund with a ratio of 390 (almost 4 years of reserve) , but in any event it was ALWAYS the plan to draw down the excess as needed to help fund the demographic challenge of the Boomers. The last boomers will retire in 2029, ten years before the trust fund is currently projected to be depleted, and four years before it fails the 100% test (per SSA numbers which vary a little from CBO's).

mcgowanjm  posted on  2011-07-11   11:35:03 ET  Reply   Trace   Private Reply  


#49. To: Badeye (#40)

Raising the debt ceiling doesn't pay our bills. It only allows this administration to continue to write BAD CHECKS, further excerbating the debt crisis we already face.

Every American owes $50,000 in current debt and $500,000 in future obligations. $500,000 -- that's $2 million for every family of four. The median household income is about $50,000 a year. Do the math. This can't possibly be paid.

Not only do we have to stop borrowing money now, we also have to remove Social Security, Medicare, and Medicaid from entitlement status. They should be funded each year based on our ability to pay, not based on some automatic formula.


"Everything that can be invented has been invented."-- Charles Duell, Commissioner of US Patent Office, 1899

jwpegler  posted on  2011-07-11   11:37:33 ET  Reply   Trace   Private Reply  


#50. To: All (#48)

"As it turns out it fell out of balance in 1971

and despite some tweaks in 1977

continued to fall until it flirted with zero in 1982.

Which led to the creation of the Greenspan Commission and its two part fix. The first part was intended to put the Trust Fund back in Short Term Balance, a task that was complete by 1993.

The second part was to build the Trust Fund sufficiently over that minimum to fund benefits ON AVERAGE over the next 75 years. That was pretty successful as well, leaving the current Trust Fund with a ratio of 390 (almost 4 years of reserve) , ...."

See those Four Dates?

Nixon and Reagan took the goody out in 71 and 82. The 'tweaks' were under Carter/Clinton passively accepting....

mcgowanjm  posted on  2011-07-11   11:39:03 ET  Reply   Trace   Private Reply  


#51. To: jwpegler (#49)

Raising the debt ceiling doesn't pay our bills. It only allows this administration to continue to write BAD CHECKS, further excerbating the debt crisis we already face. Every American owes $50,000 in current debt and $500,000 in future obligations. $500,000 -- that's $2 million for every family of four. The median household income is about $50,000 a year. Do the math. This can't possibly be paid.

Not only do we have to stop borrowing money now, we also have to remove Social Security, Medicare, and Medicaid from entitlement status. They should be funded each year based on our ability to pay, not based on some automatic formula.

Yep.

And today it was announced Owe-bama just gave the United Nation's 100 billion dollars...and still some don't understand how anyone can be against raising the debt ceiling?

Sheesh.

Proxy IP's are amusing.....lmao

Badeye  posted on  2011-07-11   11:40:11 ET  Reply   Trace   Private Reply  


#52. To: lucysmom (#41)

Raising the debt ceiling doesn't pay our bills.

I don't have to 'do more research' goofy.

I can add and subtract. You on the Left apparently can't.

Proxy IP's are amusing.....lmao

Badeye  posted on  2011-07-11   11:40:58 ET  Reply   Trace   Private Reply  


#53. To: jwpegler (#49)

we also have to remove Social Security, Medicare, and Medicaid from entitlement status.

Get ready for war then, MFer.

You can use your Largest ever Military Budget to get me some weapons....

8D

Cause I ain't no body's slave.

These Entitlements as you call them were made because 7 million Americans had just dies of starvation/cold the Winter of 32.

The Top 50 000 will run out of bodies before the Bottom 90%....

mcgowanjm  posted on  2011-07-11   11:41:40 ET  Reply   Trace   Private Reply  


#54. To: Rudgear (#47)

Sooner or later, the egalitarian left wants to shut down debate when they can't offer anything other than BS like Aspergers.

Reagan success story.

All the liberals are dead....8D

How's that FOX Murdoch hacking E Mails story comin' along....8D

mcgowanjm  posted on  2011-07-11   11:43:05 ET  Reply   Trace   Private Reply  


#55. To: jwpegler (#49) (Edited)

Every American owes $50,000 in current debt and $500,000 in future obligations. $500,000 -- that's $2 million for every family of four. The median household income is about $50,000 a year. Do the math. This can't possibly be paid.

Not only do we have to stop borrowing money now, we also have to remove Social Security, Medicare, and Medicaid from entitlement status. They should be funded each year based on our ability to pay, not based on some automatic formula.

You want to give the money I put into it to Wall Street which proved 3 years ago it wasn't up to the task.

But the US debt is used as a source of income silly. It's sold all over the world. Why debt's been at the center of one of the most popular and profitable business models for the last 25 years, the bankers say so.

mininggold  posted on  2011-07-11   11:44:19 ET  Reply   Trace   Private Reply  


#56. To: mcgowanjm (#53)

Get ready for war then

War with 60 year old dope heads like you??? Right. You can barely get out of bed in the morning and post incoherent rants on Liberysflame. ROTFLMAO.


"Everything that can be invented has been invented."-- Charles Duell, Commissioner of US Patent Office, 1899

jwpegler  posted on  2011-07-11   11:44:19 ET  Reply   Trace   Private Reply  


#57. To: jwpegler (#56)

Get ready for war then

Whatever.

Now we know why your local police need tanks....

How's your Bailed out Banksters doin this AM?

Care to explain how America comes out of this Depression?

mcgowanjm  posted on  2011-07-11   11:46:40 ET  Reply   Trace   Private Reply  


#58. To: All (#57)

#3. To: mcgowanjm (#2)

European Stock Markets crashing.

Yes they are.

Fred Mertz posted on 2011-07-11 10:28:34 ET

mcgowanjm  posted on  2011-07-11   11:47:31 ET  Reply   Trace   Private Reply  


#59. To: All (#58)

Remember that these agencies have never forecast anything of importance (neither subprime, nor the global crisis, nor the Greek crisis, nor the Arab Spring, ...). If they downgrade willy nilly today it’s because they have been caught at their own game (22). It’s no longer possible to downgrade A without affecting B’s rating if B is no better off. The "assumptions" on the fact that it’s impossible for any particular state to default on its debt

have not withstood three years of crisis: this is where Wall Street and the City have fallen into the trap which threatens all aspiring sorcerers’ apprentices.

They have not seen it would be impossible for them to control the hysteria kept up over Greek debt. So today it’s the US Congress, with the bitter debate on the debt ceiling and massive budget cuts, that the consequences of the misleading articles in recent months about Greece and the Eurozone enlarge.

Once again, our team can only stress that if history has any sense, it’s certainly a sense of irony.

mcgowanjm  posted on  2011-07-11   11:48:21 ET  Reply   Trace   Private Reply  


#60. To: jwpegler (#56) (Edited)

War with 60 year old dope heads like you??? Right. You can barely get out of bed in the morning and post incoherent rants on Liberysflame. ROTFLMAO.

You've been given the chance to prove your assertions but you continually come up empty. YOU are the one who needs to prove that your 'new improved' theories will work, not the other way around.

mininggold  posted on  2011-07-11   11:49:10 ET  Reply   Trace   Private Reply  


#61. To: jwpegler (#56)

BTW, jw

Your Army is being called on to fight everyone. Think your local LE can handle the rest of us?

Missiles fired at Panetta in Green Zone.

US/French Embassies in Syria Stormed. Live Fire.

Is the US going to fight EVERYONE?

except Israel, eh?

mcgowanjm  posted on  2011-07-11   11:51:20 ET  Reply   Trace   Private Reply  


#62. To: mininggold (#60)

but you continually come up empty

I continually post all kinds of evidence from all over the world for every position I take. Unfortunately, you, Lucysmom, and Goobershit are either too stupid, stubborn, or stoned to understand it. So I won't waste my time anymore.


"Everything that can be invented has been invented."-- Charles Duell, Commissioner of US Patent Office, 1899

jwpegler  posted on  2011-07-11   11:52:13 ET  Reply   Trace   Private Reply  


#63. To: mcgowanjm (#54)

You link the strangest damn things, thinking you are making sense. For phone hacking, I refer you to the Democrats dirty tricks division.

war has to do something for entertainment. The voices in his head aren't speaking to him and his imaginary friends have found reasons not to come over anymore.

Rudgear  posted on  2011-07-11   11:54:47 ET  Reply   Trace   Private Reply  


#64. To: mcgowanjm (#58)

European Stock Markets crashing.

Some might consider this a time to buy and jwpegler needs to use YOUR money. LOLOL

mininggold  posted on  2011-07-11   11:55:26 ET  Reply   Trace   Private Reply  


#65. To: jwpegler (#62)

continually post all kinds of evidence from all over the world for every position I take. Unfortunately, you, Lucysmom, and Goobershit are either too stupid, stubborn, or stoned to understand it. So I won't waste my time anymore.

Post it now. You can start with where the first free market is located and what qualities determine it to be such.

mininggold  posted on  2011-07-11   11:57:22 ET  Reply   Trace   Private Reply  


#66. To: mininggold (#65)

You can start

Nope. I'm finished wasting time doing any research for you and your lunatic leftist buddies, because you are unteachable.

So, just roll another one and toke away hippie.


"Everything that can be invented has been invented."-- Charles Duell, Commissioner of US Patent Office, 1899

jwpegler  posted on  2011-07-11   12:00:03 ET  Reply   Trace   Private Reply  


#67. To: lucysmomBadeye, A K A Stone, hondo68, Fred Mertz, Godwinson, go65, war, no gnu taxes, Skip Intro, ferret mike, jwpegler, brian s, mcgowanjm, Mininggold (#1)

Sounds crazy, but...

Not only is this idea crazy, it's flat-out STUPID.

Unless made of $1T of precious metals, it would simply be another form of fiat money.

In REAL terms, a $1T gold coin would weigh 40453074.4 pounds. This, by the way, works out to the approximate weight of not one, but two Ticonderoga-class guided-missile cruisers, as shown here:

Were it made out of platinum, it would weigh 36231884.0579 pounds- the same mass as the Spanish aircraft carrier Spanish aircraft carrier Principe de Asturias, below:

.

Were you to have an inkling of economics, you'd already know that...

On a more basic level, Geithner has been in the pocket of the big banks for years. The Federal Reserve is owned by those same big banks... You think Geithner- little pus-bag that he is- would ever do anything against the will of the banks?

“If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.”
-- Joseph Goebbels --

The State can no longer hide the consequences of their 100-year lie. VERY interesting times are ahead.

Capitalist Eric  posted on  2011-07-11   12:00:24 ET  (2 images) Reply   Trace   Private Reply  


#68. To: Badeye, lucysmom, mininggold (#40)

I don't believe anyone could suffer you without being drunk first.

Ouch, THAT'S gonna' leave a mark!

The only question is, which of her two personalities will this hit? Whining- old, or the loony-mom? I ask because ming IS loonymom...

Oh, BTW, Badeye... according to ming/loony, if you aren't willing to "suffer" fools like her, she says you're "intolerant."

Like that's a bad thing, LOL.

“If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.”
-- Joseph Goebbels --

The State can no longer hide the consequences of their 100-year lie. VERY interesting times are ahead.

Capitalist Eric  posted on  2011-07-11   12:05:02 ET  Reply   Trace   Private Reply  


#69. To: jwpegler (#66)

Nope. I'm finished wasting time doing any research for you and your lunatic leftist buddies, because you are unteachable.

So, just roll another one and toke away hippie.

So who designated you to a teaching position on this chit chat site? Especially since you can't even define your goals much less prove your theories. And you seem to be unaware that this is a discussion forum. You failed big time.

mininggold  posted on  2011-07-11   12:12:31 ET  Reply   Trace   Private Reply  


#70. To: jwpegler, mininggold, All (#62)

but you continually come up empty

but you continually come up empty

Perfect description of the Last 30 years of Reaganism/TrumanDoctrine/BrettonWoodsGold Default.

But not by looking at the BlueBar to the Right.

We have over a thousand cable TV channels where I live, and none of them puts on a coherent news program on Sunday nights, so weekends have become news blackouts.

Looks like we're hours/days away:

All these rich bible beatin' MFers gonna have to steal some more from their slaves.

And I don't know if the slaves have any more to give...8D

" "A comprehensive global energy transition is urgently needed in order to avert a major planetary catastrophe," the report warns.

Might I interject? Perhaps our "rapidly expanding" use of fossil fuel energy itself can not be sustained for much longer. I suggest that somebody should take a long look at the situation. Certainly, crude oil does not seem quite so abundant as it once appeared to be. Perhaps somebody at the U.N. ought to look at the oil price trend since 2003. And then there's that pending, unresolved peak coal estimate. Country estimates of how much recoverable coal they have always seem to go down. And there's all that nonsense about shale gas. But I digress.

In his preface to the report, Secretary-General Ban Ki-moon writes that "rather than viewing growth and sustainability as competing goals on a collision course, we must see them as complementary and mutually supportive imperatives. This becomes possible when we embrace a low-carbon, resource-efficient, pro-poor economic model."

"A comprehensive global energy transition is urgently needed in order to avert a major planetary catastrophe," the report warns.

Might I interject? Perhaps our "rapidly expanding" use of fossil fuel energy itself can not be sustained for much longer. I suggest that somebody should take a long look at the situation. Certainly, crude oil does not seem quite so abundant as it once appeared to be. Perhaps somebody at the U.N. ought to look at the oil price trend since 2003. And then there's that pending, unresolved peak coal estimate. Country estimates of how much recoverable coal they have always seem to go down. And there's all that nonsense about shale gas. But I digress.

In his preface to the report, Secretary-General Ban Ki-moon writes that "rather than viewing growth and sustainability as competing goals on a collision course, we must see them as complementary and mutually supportive imperatives. This becomes possible when we embrace a low-carbon, resource-efficient, pro-poor economic model."

mcgowanjm  posted on  2011-07-11   12:13:44 ET  Reply   Trace   Private Reply  


#71. To: Capitalist Eric (#68) (Edited)

Oh, BTW, Badeye... according to ming/loony, if you aren't willing to "suffer" fools like her, she says you're "intolerant

I have never said that. But I'm truly sorry you unmedicated, low functioning Aspergers' are so easily confused. But again maybe that's a good thing. .

mininggold  posted on  2011-07-11   12:16:33 ET  Reply   Trace   Private Reply  


#72. To: Capitalist Eric (#68)

Oh, BTW, Badeye... according to ming/loony, if you aren't willing to "suffer" fools like her, she says you're "intolerant."

I know. The irony of course is the most intolerant people in America are in fact LIBERALS.

Proxy IP's are amusing.....lmao

Badeye  posted on  2011-07-11   12:18:14 ET  Reply   Trace   Private Reply  


#73. To: mininggold (#69)

And you seem to be unaware that this is a discussion forum. You failed big time.

They don't come here to discuss, they come to convince themselves, and each other, they're "normal).

Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized.

lucysmom  posted on  2011-07-11   12:47:31 ET  Reply   Trace   Private Reply  


#74. To: mininggold, jwpegler, lucysmom, Badeye (#69)

So who designated you to a teaching position on this chit chat site?

Ming/loonymom, where you are concerned, everybody is in a position to teach you. You exhibit the typical leftist (i.e., socialist "useful idiot") traits of being both brutally stupid, and proud of your stupidity.

Especially since you can't even define your goals much less prove your theories.

Proof is posted here, daily, which effectively eviscerates your pathetic, nonsensical positions. So you choose to ignore the proof, because it's better- and easier- for you to live in the delusions of your mind, then face reality. But hey, that's what it takes to be a leftist- gross ignorance of reality, or the refusal to accept reality, once it is presented.

you seem to be unaware that this is a discussion forum. You failed big time.

The failure is all yours, ming/loonymom. With every post, with every statement you make, you demonstrate that you are incapable of facing reality. You live in sound-bites, preferring the more interesting fiction of the leftist-MSM news, than real life.

Chayefsky was talking about people like YOU, ming/loonymom, when he wrote:

Television is not the truth! Television is a God-damned amusement park! Television is a circus, a carnival, a traveling troupe of acrobats, storytellers, dancers, singers, jugglers, side-show freaks, lion tamers, and football players. We're in the boredom-killing business! So if you want the truth... Go to God! Go to your gurus! Go to yourselves! Because that's the only place you're ever going to find any real truth.

[laughing to himself] But, man, you're never going to get any truth from us. We'll tell you anything you want to hear; we lie like hell. We'll tell you that, uh, Kojak always gets the killer, or that nobody ever gets cancer at Archie Bunker's house, and no matter how much trouble the hero is in, don't worry, just look at your watch; at the end of the hour he's going to win. We'll tell you any shit you want to hear. We deal in *illusions*, man! None of it is true!

But you people sit there, day after day, night after night, all ages, colors, creeds... We're all you know.

You're beginning to believe the illusions we're spinning here. You're beginning to think that the tube is reality, and that your own lives are unreal.

You do whatever the tube tells you! You dress like the tube, you eat like the tube, you raise your children like the tube, you even *think* like the tube!

This is mass madness, you maniacs!

In God's name, you people are the real thing! *WE* are the illusion!


-- Howard Beale, "Network" (1976)

“If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.”
-- Joseph Goebbels --

The State can no longer hide the consequences of their 100-year lie. VERY interesting times are ahead.

Capitalist Eric  posted on  2011-07-11   13:46:39 ET  Reply   Trace   Private Reply  



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