Ron Paul: US should go bankrupt

[Wonky Pundit]

Top that, Michelle!

Rep. Ron Paul (R-Texas) said Monday that bankruptcy could be the best solution for the United States to address its mounting debt.

Paul, the libertarian Republican presidential candidate, suggested that bankruptcy would be a good option — as would, short of that, refusing to repay obligations to the Federal Reserve.

During an appearance on Iowa's WHO radio, Paul, in a conversation about the debt crisis in Greece, called on that country to declare bankruptcy, reasoning that the Greek debt was insurmountable and thus that the country could not avoid bankruptcy.

"Are we going to experience — are you predicting, in essence, if bankruptcy is the cure for Greece, is it also the cure for the United States?" asked host Jan Mickelson.

"Absolutely," Paul responded.

Source

 

[Momanohedhunter]

Whew, Thats some tough love.

 

[Truthmatters]

Dissater caplitalism is what he wants

 

[8537]

Refusing to pay obligations to the Federal Reserve?

Who should refuse paying obligations to the Federal Reserve?

Sometimes Dr. Paul should think a bit more before speaking. He's a smart enough guy.

 

[American Legacy]

But, but....we're too big to fail!

 

[FuelRod]

Trillions in debt with no way to pay it back without more debt is bankrupt.
We're just talking semantics.

 

[DontBeStupid]

We are not Greece.

 

[Soggy in NOLA]

Dissater caplitalism is what he wants

Dissater?

 

[DontBeStupid]

Trillions in debt with no way to pay it back without more debt is bankrupt.
We're just talking semantics.

Uhm, taxes?

Seriously, we could pay it back.

 

[Soggy in NOLA]

We are not Greece.

But Obama and his merry band of Marxists sure want us to be.

 

[DontBeStupid]

Dissater caplitalism is what he wants

Dissater?

Oh my God a typo! Quick, shut down the inter-webs!

 

[Truthmatters]

But, but....we're too big to fail!

What is really sad is you dont understand that phrase.

The right allowed certain industries to consolidate to the point that their failure caused us massive problems.


It is what happens when you dont regulate industry enough to protect your own system.

 

[Soggy in NOLA]

But, but....we're too big to fail!

What is really sad is you dont understand that phrase.

The right allowed certain industries to consolidate to the point that their failure caused us massive problems.


It is what happens when you dont regulate industry enough to protect your own system.

Is there a way to regulate the toxic stupidity that emanates from you?

Guess not.

 

[CrusaderFrank]

The Federal Reserve should be audited them burned to the ground

 

[Soggy in NOLA]

Dissater caplitalism is what he wants

Dissater?

Oh my God a typo! Quick, shut down the inter-webs!

Yeah... I love pointing shit like this out. I wouldn't take such glee in it if TM weren't such a self-righteous and sanctimonious windbag.

 

[theHawk]

But, but....we're too big to fail!

What is really sad is you dont understand that phrase.

The right allowed certain industries to consolidate to the point that their failure caused us massive problems.


It is what happens when you dont regulate industry enough to protect your own system.

We can always count on Truthmatters chiming in with her idiotic bumper sticker slogan arguements.

Are you so fucking colossally stupid you don't realize that the "industries" that caused the 'massive problems' was Fannie Mae and Freddie Mac? Which are both Federally managed organizations?

 

[DontBeStupid]

Are you so fucking colossally stupid you don't realize that the "industries" that caused the 'massive problems' was Fannie Mae and Freddie Mac? Which are both Federally managed organizations?

heh heh if only that were true, you wouldn't look so silly.

Anyway, back on topic, why would bankruptcy be good for the U.S.?

 

[edthecynic]

Dissater caplitalism is what he wants

Dissater?

It's a damn poor mind that can think of only one way to spell a word.
Andrew Jackson

 

[Si modo]

Dissater caplitalism is what he wants

Just like Al Gore?

 

[grunt11b]

Refusing to pay obligations to the Federal Reserve?

Who should refuse paying obligations to the Federal Reserve?

Sometimes Dr. Paul should think a bit more before speaking. He's a smart enough guy.

When people get so far in debt that they can no longer pay it what do they do? They file bankruptcy.
Since when do we owe anything to the Federal reserve anyways? All they loan us is a fiat currency that has something printed on it, that's right, a piece of paper, nothing more. Is it gold? Nope, is it worth anything?...nope, just a piece of paper.
This is why paul believes what he does, and I agree 100% with him.
Central Bank