Help Pay Down US Public Debt, Donate to the US Treasury

Stacy Summary:  If they want online donations, they have to give something in return!  Like a blog or a podcast!  Anyway, take this as a jibber jabber thread . . . as if you needed encouragement . . . ;)    (As an additional read, for those that missed it, here is Ellen Brown’s HFT article on Huffington Post now).

94 thoughts on “Help Pay Down US Public Debt, Donate to the US Treasury”

  3. Mother Earth

    I saw that a few weeks ago, it is sad and outrageous..Everybody is fixated on the virtual baby, and the real one is starving..PErhaps we live in an age in which we created addicitons we couldn’t control and couldn’t survive, nr. 1 being credit consumption..

  5. Dan

    The government is stupid and perphetic

    An example if the relationship between a pimp and a whore the government is the whore the banking cartel that has access to fractional reserve system is the pimp.

    Anyone who donates is a moron, the government had abundant funding because we granted it the authority to access our wealth via the mechanism of taxation, it need not go to some private corporation to borrow, simply monotize its own bonds backed by the tax payer.

    In the future any government seen to go in debt to any external source would be deemed unlawful.

  6. Ingrid

    If that’s not insult to injury. And people aren’t angry?
    And NPR and PBS do the same thing to us. They ask for donations making us think that they are reporting news on behalf of the people. Pl- ease.
    Goldman Sachs Traders Bet on Hamburger Eating Contest.
    http://online.wsj.com/article/SB10001424052748703441404575206400921118356.html?mod=rss_whats_news_us&utm_source=WallStreetJournal&utm_medium=twitter
    These guys are true gambling addicts…They need Dr. Drew!

  8. Chris

    I give my students questions on paying back the national debt to give them practice with large numbers. Here’s a question for you. Suppose you are a very lucky person and won the lottery ($300 million) and used all the money to pay off the national debt, would that help much? I know most of you here at MK.com know that this would only be a tiny dent… so try this harder question:

    What if you won $300 million EVERY DAY (yes that’s very lucky). Then after 100 years, how much of the US national debt would you have payed off? 100% ? 50% 10% ? Answer below.

    …answer:

    NONE! $300 million PER DAY isn’t even enough to pay the interest on the debt! (Over $1 billion/day) The national debt would actually be higher than when you started!!!!!!!!!!

  9. Mother Earth

    @Chris

    What percentage of that billion is owed to foreigners? It would indeed magical to assume hunderds of millions worth of assets would be created in the US each day for those foreigners to buy, so that interest is indeed 100% inflation is it not?

  10. zaphodity

    Are these HFT programs stand alone ? is it possible for someone to access them illegally ?…I mean like hack into the computer fraud itself and commit fraud ? lol That would put a bug up their collective azz.

  12. Dan

    @Mother Earth 100% of all debt for every country is owed to foreigners, because the banking cartel is foreign to the public.

    people get this idea that if they are in debt to another country then citizens of that country are collecting your tax, not at all, it isnt like that.

  13. Dedo

    I’ve just donated £200,000 ,…well if you take out, you must put back in,.is my motto : )
    Think not what your country can do for you,…..wahahaha lol,..

  15. Metoo

    I donated to a government today, the SNP government of Scotland is rasing a legal case against the public broadcaster the BBC for not giving as per their charter equal and unbiased platform for the forthcoming election, as has been seen by the Lib Dems rise in the polls, the free publicity has certainly helped, yet the Beeb see fit to act as the Westminster governments plaything
    just because the telly and the press decide it is a two or three horse race, why are all of them not given an equal platform, because it is not democracy without it
    How about doing a story on this Max n Stacey,

  20. jischinger

    pay off the bankers bonuses and the interest – how stupid do they think we are?

    Must be a way to apply the RICO Laws to these banks on Wall Street.

    Just have to find another courageous public servant who doesn’t have a predilection for hookers.

  21. Max Power

    Hugely important text you need to do a show about …

    US banks closing accounts on non-US resident citizens due to current US anti-terrorism law :

    More American Expatriates Give Up Citizenship
    http://www.nytimes.com/2010/04/26/us/26expat.html?src=me&ref=general

    [...]

    The Federal Register, the government publication that records such decisions, shows that 502 expatriates gave up their U.S. citizenship or permanent residency status in the last quarter of 2009. That is a tiny portion of the 5.2 million Americans estimated by the State Department to be living abroad.

    Still, 502 was the largest quarterly figure in years, more than twice the total for all of 2008, and it looms larger, given how agonizing the decision can be. There were 235 renunciations in 2008 and 743 last year. Waiting periods to meet with consular officers to formalize renunciations have grown.

    [...]

    Stringent new banking regulations — aimed both at curbing tax evasion and, under the Patriot Act, preventing money from flowing to terrorist groups — have inadvertently made it harder for some expats to keep bank accounts in the United States and in some cases abroad.

    Some U.S.-based banks have closed expats’ accounts because of difficulty in certifying that the holders still maintain U.S. addresses, as required by a Patriot Act provision.

    “It seems the new anti-terrorist rules are having unintended effects,” Daniel Flynn, who lives in Belgium, wrote in a letter quoted by the Americans Abroad Caucus in the U.S. Congress in correspondence with the Treasury Department.

    “I was born in San Francisco in 1939, served my country as an army officer from 1961 to 1963, have been paying U.S. income taxes for 57 years, since 1952, have continually maintained federal voting residence, and hold a valid American passport.”

    Mr. Flynn had held an account with a U.S. bank for 44 years. Still, he wrote, “they said that the new anti-terrorism rules required them to close our account because of our address outside the U.S.”

    Kathleen Rittenhouse, who lives in Canada, wrote that until she encountered a similar problem, “I did not know that the Patriot Act placed me in the same category as terrorists, arms dealers and money launderers.”

    Andy Sundberg, another director of American Citizens Abroad, said, “These banks are closing our accounts as acts of prudent self-defense.” But the result, he said, is that expats have become “toxic citizens.”

    [...]

    Relinquishing citizenship is relatively simple. The person must appear before a U.S. consular or diplomatic official in a foreign country and sign a renunciation oath. This does not allow a person to escape old tax bills or military obligations.

    Now, expats’ representatives fear renunciations will become more common.

    “It is a sad outcome,” Ms. Bugnion said, “but I personally feel that we are now seeing only the tip of the iceberg.”

  22. Dan II

    I donated $0.01

    Everyone should. The cost of administering the proceeds would far exceed the donations. Get to donating and spread the word.

  24. Max Power

    ===========
    What if you won $300 million EVERY DAY (yes that’s very lucky). Then after 100 years, how much of the US national debt would you have payed off? 100% ? 50% 10% ? Answer below.

    …answer:

    NONE! $300 million PER DAY isn’t even enough to pay the interest on the debt! (Over $1 billion/day) The national debt would actually be higher than when you started!
    ===========

    For my Canadian friend stuck in the USA, his cost to government is 25m USD.

    The spreadsheet is here, and all university students should compute a spreadsheet to determine their cost to government :

    http://cbc.am/Total-cost-to-goverment.xls

    http://cbc.am/Total-cost-to-goverment.ods

    If “The Treasury” (of a US state, or federal) gave my Canadian friend 400,000 SDRs (in USD) he could leave the USA and have no further cost to government.

    Yes, this sounds boffo — but it is actually cheaper for the US government(s) to do this.

    I believe that for 600,000 SDRs his exit could be totally permanent — and that this is the most optimal outcome.

    It is illegal for my Canadian friend to work in the USA, or for that matter marry anyone.

    US Citizenship — having or not having it — in this case is totally irrelevant.

  26. Al-doomandbloom

    Stacy, im finding it difficult to go to the front page…..it seems you have replaced the front page link with the archives link..

  27. Creative Destruction

    I’m a generous person: I gave the treasury the finger.

    But they wanted an arm and a leg.

  28. Happy Dick

    Al, try clicking on the “blue” MaxKieser.com in the marquee at the top of the page

  30. end game

    max power
    everything you say is correct if you live in amerika and you
    find they have questions at the bank for you they will call you a terroist or say you launder money
    meanwhile 50 percent usa citizens didnt pay any taxes last year
    also major corps like ge didnt pay any
    we live in scary times were the working classs americans are the enemy
    remmeber bush after 9 11 you dont worry just go shop dum sheeple
    americans have become morons led by idiots who want collapse
    they love calling you a terroist money launder
    i had a similar incident at the bank i almost lost it
    in 2005 i told the bank manager im an american cashing a check
    what insulting bich.
    i kept account with a couple of dollars
    closed my buisness went to work in the union
    save every penny by gold and cant wait until this counry goes bankrupt
    when the usa citizen realise that 911 to put you in fema camps
    when it happens to you then you will realize that all these presidents and congress and corprate giants are guilty of treason
    im very mild person but only a fool cant tell whats happening
    and this will end in a revoultion
    meanwhile they say evrything is fine
    now you know how the jews were trick and the germans
    this is a repeat of history and is no joke

  31. Mother Earth

    It would make sense to assign every citizen a piece of the non bailout debt and make bond issues conditional on a public referendum..That would erode public support for a lot of wastefull nonsense pretty quickly, and it would make people realize they have to do more for less..Financial democracy, that is lacking!

  33. Grant

    You know what? I’m liking this new direction the adminstration is taking. This is some Change I can get behind. Just think of all the possibilities. Myself? I’d love to see Geithner host a tele-a-thon with a bunch of b-list actors.

    Or maybe Obama himself can go down to the local fair in his skivvies and sit atop a tank of water and have drunk high school kids toss softballs at a target to dunk him.

    Hell, the entire adminstration can throw their stuff on the back of a pickup truck and revive the Carnivale! It’ll be just like the first Depression!

  35. Max Power

    =========
    It would make sense to assign every citizen a piece of the non bailout debt and make bond issues conditional on a public referendum. That would erode public support for a lot of wastefull nonsense pretty quickly, and it would make people realize they have to do more for less. Financial democracy, that is lacking!
    =========

    Each American resident owes at least 700,000 USD in {Cumulative Debt Per Person}.

    Even handing over 10% of that number (some 70 k) would by my guesstimates force 50% of the US populous into filing legitimate bankruptcy.

    At 20%, 70% bankruptcy rates would be expected.

    At 30, 90% bankruptcy rates would be expected.

    See also :

    http://en.wikipedia.org/wiki/US_total_cumulative_debt_per_person

  36. FranSix

    An excellent article looking back at the collapse of the Russian economy in 1998, and the follow-on LTCM collapse:

    http://www.safehaven.com/article/16545/trading-lessons-from-the-1998-russian-debt-default

    We have more than a few aspects which are so similar to that time, with the exception that leverage in the market has to be an order of magnitude larger. (Not predicting a Ruble collapse, but looking at the Asia Pacific region with its housing bubble and perhaps the rout of emerging markets.)

  42. Giuseppe Bagodonutti

    I still don’t see any TAM !!!!

    TAM TAM TAM TAM TAAAAAAAAAAAAAAAAM
    SHUT UP!!!!
    You Can’t have your Max, Sausage, TAM, Stacy and Eggs without the TAM!!!!

    TAM TAM TAM TAM TAM TAM TAM TAM TAAAAAAAAAAAAAMMMMMM

  43. R. Cain

    @ Giuseppe
    listen to Mr Denninger’s podcast above
    = really good
    (warning: coarse language)

  45. FranSix

    Here’s another article, which I think points out the heavy bias to the short term that’s in the market, which is a leftover of the onset of the financial crisis.

    Short term rates were, at one time higher than long term rates for a period of 16 months, which began to reverse in 2007, which then led to the burst of the oil market-corner, and the collapse of Lehman. (although the same conditions for short term interest rates persisted prior to the Nasdaq crash, which I consider to be the start of the world financial crisis.)

    Now, the legacy is a very unbalanced short term market based on treasuries.

    http://www.safehaven.com/article/16323/now-start-watching-interest-rates

    Its a strong argument for higher interest rates, but I’m thinking that despite the size of the treasury auction this week, the discount rate remains stubbornly lower than the policy rate by a good margin, so we’ll see discount rates decline once again.

    http://stockcharts.com/h-sc/ui?s=$IRX&p=D&b=5&g=0&id=p97076364269&a=191209925&listNum=2&listNum=2

    I think this is where the interesting and unheard-of market move will be.

  46. ronron

    hahaha. did you guys hear? snoot, stacy, and phil went to the zoo to see max. they all laughed. fucking funny. LOL. :-)

  48. Youri Carma

    Are the Indian remains of Mohenjo Daro and Harappa, their sudden abandonment and the apparent discovery of an ancient site with a layer of radioactive ash the best available evidence for the possibility that our ancient ancestors possessed a highly advanced technology – which might have included atomic warfare? http://www.philipcoppens.com/bestevidence.html

  53. ronron

    carney. goldman sachs rep in canada is blowing a huge bubble as we speak. fucking carney should be fired now @Marc?

  54. A Who

    Wouldn’t this type of logic be the same as trying to put out a fire with gasoline? Making the debt holders pay off the debt by adding even more debt to the debt…. Very odd logic, but hey, what should I and all of us expect from the Treasury…….

    Oh, and here’s a nice clip of William K. Black showing congress how a real Financial hearing should go, not these sad pathetic attempts, that are instead just little talks and ‘show hearings’. Max and Stacy, you guys should see if you can get William Black on either the Keiser Report or On the Edge, that would be a great conversation between you and William, Max. Seeing as William Black use to work at Lehman Brothers and he’s a former Litigation Director on the Federal Home Loan Bank Board.

    http://www.youtube.com/watch?v=3-HTylLzXu8

  56. Giuseppe Bagodonutti

    @ A Who

    Prof. Black has been on the show before… Max should get him back on, before he gets whisked away to become the Super-Cop of Finance…

    BTW Y’all
    I found this great game called CASHFLOW by Robert Kiyosaki…
    it even has an option (the 202 level) where you can Short Stocks and Buy Calls and Puts…
    great game that educates at the same time…
    https://webgame.richdad.com/Lobby.aspx

  59. Gordo

    @Mep

    Not to nitpick but you can blame the republican party for this.

    Come to think of it, you would not be far off if you blamed all that is wrong with America on them.

  62. Chris

    Hey, Here’s a thought: Somebody tell Bernanke about this! He’s sitting on $1 trillion in MBS bonds he’s holding as collateral for the banks. If he gives that to the Treasury (at face value of course!) then we’d at least have payed down 1/10 of the debt.

  64. Gordo

    “Government regulators and investigators say that WellPoint, the nation’s largest insurance company, used computer algorithms to identify female policyholders with breast cancer and launch automatic fraud investigations of the women’s policies, at times resulting in rescissions, according to a Reuters investigation. ”

    http://www.medicalnewstoday.com/articles/186565.php

  66. jon

    i wish someone would answer the question.

    Why does the usa have to pay any interest to the FED if it is just part of the usa. Wouldn’t that be like making yourself pay interest to yourself.

    Which means. The FED is not part of the usa. Its a seperate buisness making loans and gathering interest on money it just creates out of thin air. Sweet deal.

  67. dan valley

    High Noon at 5:15 pm: What Happens When Dodd’s Financial Overhaul Bill Faces First Test Today? http://bit.ly/cmd9sB

    Michael Froman, U.S. point person at G20, says global bank tax “will happen”.

    Goldman Sachs shareholder sues the firm for failing to disclose an SEC investigation http://on.wsj.com/aEaNEN

    Ken Griffin of Citadel says Goldman & Morgan Stanley have no business being “banks”

  68. dan valley

    MOVING TO MEXICO

    Dear President Obama:
    I’m planning to move my family and extended family into Mexico for my health, and I would like to ask you to assist me.

    We’re planning to simply walk across the border from the U.S. Into Mexico , and we’ll need your help to make a few arrangements.

    We plan to skip all the legal stuff like visas, passports, immigration quotas and laws.

    I’m sure they handle those things the same way you do here. So, would you mind telling your buddy, President Calderon, that I’m on my way over?

    Please let him know that I will be expecting the following:

    1. Free medical care for my entire family.

    2. English-speaking government bureaucrats for all services I might need, whether I use them or not.

    3. Please print all Mexican government forms in English.

    4. I want my grandkids to be taught Spanish by English-speaking (bi-lingual) teachers.

    5. Tell their schools they need to include classes on American culture and history.

    6. I want my grandkids to see the American flag on one of the flag poles at their school.

    7. Please plan to feed my grandkids at school for both breakfast and lunch.

    8. I will need a local Mexican driver’s license so I can get easy access to government services.

    9. I do plan to get a car and drive in Mexico , but, I don’t plan to purchase car insurance, and I probably won’t make any special effort to learn local traffic laws.

    10. In case one of the Mexican police officers does not get the memo from their president to leave me alone, please be sure that every patrol car has at least one English-speaking officer.

    11. I plan to fly the U.S. Flag from my house top, put U S. Flag decals on my car, and have a gigantic celebration on July 4th. I do not want any complaints or negative comments from the locals.

    12. I would also like to have a nice job without paying any taxes, or have any labor or tax laws enforced on any business I may start.

    13. Please have the president tell all the Mexican people to be extremely nice and never say critical things about me or my family, or about the strain we might place on their economy.

    14. I want to receive free food stamps.

    15. Naturally, I’ll expect free rent subsidies.

    16. I’ll need Income tax credits so although I don’t pay Mexican Taxes, I’ll receive money from the government.

    17. Please arrange it so that the Mexican Gov’t pays $4,500 to help me buy a new car.

    18. Oh yes, I almost forgot, please enroll me free into the Mexican Social Security program so that I’ll get a monthly income in retirement.

    I know this is an easy request because you already do all these things for all his people who walk over to the U..S. From Mexico . I am sure that President Calderon won’t mind returning the favor if you ask him nicely.

    Thank you so much for your kind help. You’re the man!!!

  69. end game

    jon
    i we dont pay the fed
    jfk as welll as abraham lincon
    said he well print our own money screw the banks
    and we all see how that turned out
    the sheep wont stand up
    buy gold in 4 years youll be laughing at how easy it is to make money

  70. Gordo

    MOVING TO MEXICO

    Dear President Obama:

    You might want to take this up with the people in Agribusiness Obama does not really have any authority in this are.

  73. Mini US

    Not sure if this has been covered here.

    Bullion Banks charging customers for precious metal storage of paper gold.

    “In 2007 Morgan Stanley settled a class-action lawsuit in which Morgan Stanley was selling silver to customers and charging them for storage. It turned out that Morgan Stanley was selling and storing silver that didn’t exist.

    http://truthingold.blogspot.com/2010/04/comex-and-fractional-bullion-system_15.html

    And…..

    “The issue specifically concerns whether Morgan Stanley and many other large financial organizations who claim to hold and store silver for their customers, actually possess the silver.

    http://news.silverseek.com/TedButler/1193161018.php

  75. Mini US

    I wonder is Goldman have shorted themselves now.
    It would make sense. They must have before the SEC news came out.
    Or maybe the SEC shorted them, thats why they didn’t tell them.
    Get them at their own game.

    Anyway, looks like long IMF and World Bank from here.

  78. Bonn

    @ Dan V
    Even I tink tat tee Economies are a lot stronger
    Ta achellies heel is ta Interest Payments & ta loans
    We need a new Banking System
    Imagine We spend the better part of our lives dealing wit banks
    yet we taught sh!t in school about tem !!!!
    Tis a Sucker game IMO
    And we need to do away wit
    ta
    let me clear me throat
    UN, IMF, WHO, WTO, CFR , EU
    US Fed, CIA , FBI ,Mossad ,Scotland yard , MI6 ,MI5 and all otter Intelligance agencys
    Tey have F$%ked our lives beyond Recoginition

  85. PIGDOG

    How about a 70 year 1.5 Quadrillion dollar FRN promissory note. Just as good as a federal reserve note. No problem.

  86. DOOMED

    HERE’S YOUR CHANCE

    all you people out there that love a big, bloated government.
    enough with the hypocrisy, here is your chance to do more than you are already forced to do.
    i want to see it.
    i am always hearing about how we need more government.
    well, we got it. we have too much. more than we can afford.
    get it.
    we CANNOT afford this size of government.
    instead of being passive aggressive – which runs rampant among those who want government and complain and blame others…

    HERE IS YOUR CHANCE!
    don’t let yourself down
    here is your chance to not be hypocritical…and donate
    donating already to a charity, you say?
    too bad – your government needs more of your money

    HERE IS YOUR CHANCE
    just give away…
    keep giving
    don’t you believe in your government?

    i am sure after you give, someone will write to you with a nice card!

  87. jon

    @ dan valley, From CNBC Tool Becky Quick ….buffett, dimon and welch all say the economy is stronger than you think. my latest fortune column:

    I’d be very surprised that these people aren’t doing well what with them able to get trillions from the fed on next to nothing in interest and backed up by the usa taxpayer. I think we’d all be doing well if we could do the same.

  89. Mother Earth

    Jim Rogers says we should buy agriculture if Katla erupts. What he means is that if that happens a lot of people will find themselves in dire need of food and that need can be exploited. I like Jim, but the inhumanity of his attitude is quite obvious. I assume that if Katla erupts the affected countries will ban commodity speculation.

    We must be happy there where no Wall Street bankers on the titanic, because they would have used the calmity to make a fortune speculating on the life boat seats, taking transaction fees from everyone and perhaps even allowing the seats to remain empty to avoid litigation from the people they squezed pennyless..

  94. FreeMarkets

    The real news is happening in Poland! The nwo is currently engaged in a full onslaught to capture the Polish banking system and grasp the political reigns. The Polish people find themselves the innocent pawns in a terror plot

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