Dead Nation Walking

"If wealty La Jolla is in problem, then everybody is in trouble".
http://www.321gold.com/editorials/russell/russell030111.html

But then back to this issue about the fact spending is the problem and that this always means higher taxes, reduced services. Get this, every body that has a loan understands there are costs associated with these loans. First no need to annulice the debt then there is interest to pay for these loans. That's then for someone with large loans a very significant part of the future spending part.

So then it daunts on you - the whole idea about creating loans with an interest asscociated with for goverments it at the heart of the problem.

For goverments it sure doesen't need to be this way:

Nationalize the Fed. - End Banks Power to Create Money
http://intheendwerealldebt.blogspot.com/2011/02/nationalize-fed-end-banks-power-to.html

There sure is a moral and etic question related to paying interest. Note that there in all religions clearley is spoken out that interest is a sin. The catholic church forbid it and in europe it was only the Jews that loaned money with an iterest and still stoday in Islam islamic banks do not allow for interest.

Now clearly western banking is working real hard to make it impossible also for the Islamic banks to adhere to these principels:

NASHVILLE, Tenn. (AP) - Tennessee is considering making it a felony to follow some versions of the Islamic code known as Shariah, the most severe measure yet put forth by a national movement whose members believe extremist Muslims want Shariah to supersede the Constitution.
http://www.wmctv.com/Global/story.asp?S=14163844

But then there is this moral issue related to what in fact is real fraudulant behaviour. This fraudulant behavior that the banks themselves did, that then was made possible by the rating institute e.g. Moodys and Standard and Poor and spread all over the finacial world.

Personaly I do not think you should need to ahear to any claims to pay on financial intruments and loans that was based on such fraudulant behaviour. People should just be able to walk away from these loans.

As President Obama makes the case for strong financial reform, Bill Moyers sits down with veteran regulator William K. Black, who says Wall Street is already been breaking current rules.
http://www.youtube.com/watch?v=UhO--P_tVBQ&feature=related

This whole idea about taxation, that you are supposed to work harder and settle for less, is all in fact centered arount the folly idea about goverments having to pay interst. Remove that and you get a system by the people, for the people.

All around the world people ar now starting to wake up:

Resolution of Sen Grothman Incident
http://www.youtube.com/watch?v=PFM36pPRPoo&feature=player_embedded

'I won't pay' movement spreads across Greece
http://www.msnbc.msn.com/id/41723432/ns/business-world_business/

Remember who it was that the only time he used force was against the money changers?