#21
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Re: I think the federal rates are going to go up.
[ QUOTE ]
money is a promise to pay [/ QUOTE ] I have a one dollar bill in my hand. Who do I owe? Who owes me? I have one ounce of gold in my hands Who do I owe? Who owes me? |
#22
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Re: I think the federal rates are going to go up.
[ QUOTE ]
[ QUOTE ] money is a promise to pay [/ QUOTE ] I have a one dollar bill in my hand. Who do I owe? Who owes me? I have one ounce of gold in my hands Who do I owe? Who owes me? [/ QUOTE ] When I said money I meant fiat money, dollar bills. I said when money is CREATED it's created as debt and is a promise to pay. When somebody gives you a dollar they didn't create it, they circulated it. If you follow the chain of events the dollar followed to its source, it came from a loan or a promise to pay. |
#23
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Re: I think the federal rates are going to go up.
The real reason taxes are going to go up is the gazillion dollar deficit in Medicare and Social Security, but particularly Medicare.
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