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redneck
1000+ Penny Miser Member
1273 Posts |
 Posted - 01/13/2010 : 08:20:20
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uthminsta
1000+ Penny Miser Member
USA
1872 Posts |
Posted - 01/13/2010 : 10:39:36
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| Sell California to China? Or all the roads? These are the options??!?!!? |
Come to the new and improved realcent: http://realcent.org
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Kurr
1000+ Penny Miser Member
2906 Posts |
Posted - 01/13/2010 : 11:09:22
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Odious debt
From Wikipedia, the free encyclopedia
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In international law, odious debt is a legal theory which holds that the national debt incurred by a regime for purposes that do not serve the best interests of the nation, such as wars of aggression, should not be enforceable. Such debts are thus considered by this doctrine to be personal debts of the regime that incurred them and not debts of the state. In some respects, the concept is analogous to the invalidity of contracts signed under coercion.
The doctrine was formalized in a 1927 treatise by Alexander Nahum Sack, a Russian émigré legal theorist, based upon 19th Century precedents including Mexico's repudiation of debts incurred by Emperor Maximilian's regime, and the denial by the United States of Cuban liability for debts incurred by the Spanish colonial regime. According to Sack:
When a despotic regime contracts a debt, not for the needs or in the interests of the state, but rather to strengthen itself, to suppress a popular insurrection, etc, this debt is odious for the people of the entire state. This debt does not bind the nation; it is a debt of the regime, a personal debt contracted by the ruler, and consequently it falls with the demise of the regime. The reason why these odious debts cannot attach to the territory of the state is that they do not fulfil one of the conditions determining the lawfulness of State debts, namely that State debts must be incurred, and the proceeds used, for the needs and in the interests of the State. Odious debts, contracted and utilised for purposes which, to the lenders' knowledge, are contrary to the needs and the interests of the nation, are not binding on the nation – when it succeeds in overthrowing the government that contracted them – unless the debt is within the limits of real advantages that these debts might have afforded. The lenders have committed a hostile act against the people, they cannot expect a nation which has freed itself of a despotic regime to assume these odious debts, which are the personal debts of the ruler.[1]
Patricia Adams, executive director of Probe International (an environmental and public policy advocacy organisation in Canada), and author of Odious Debts: Loose Lending, Corruption, and the Third World's Environmental Legacy, has stated that:
by giving creditors an incentive to lend only for purposes that are transparent and of public benefit, future tyrants will lose their ability to finance their armies, and thus the war on terror and the cause of world peace will be better served.
A recent article by economists Seema Jayachandran and Michael Kremer has renewed interest in this topic. They propose that the idea can be used to create a new type of economic sanction to block further borrowing by dictators. |
The silver [is] mine, and the gold [is] mine, saith the LORD of hosts. Hag 2:8 [/b]
He created it. He controls it. He gave it to us for His use. Why did we turn from sound scriptural currency that PROTECTS us?
KJV Bible w/ Strong's Concordance: http://www.blueletterbible.org/
The book of The Hundreds: http://www.land.netonecom.net/tlp/ref/boh/bookOfTheHundreds_v4.1.pdf
The Two Republics: http://www.whitehorsemedia.com/docs/THE_TWO_REPUBLICS.pdf
Good reading: http://ecclesia.org/truth/government.html
A number of people are educated beyond, sometimes way beyond, their intelligence. - Tenbears
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Gresham
Penny Pincher Member
184 Posts |
Posted - 01/13/2010 : 12:59:42
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| Is this an official default or is it speculation that it won't be repaid. I suspect that it is repayed by rolling the credit over like people do on their personal credit cards. China'll not care as long as they keep paying them interest. |
Edited by - Gresham on 01/13/2010 13:01:46 |
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redneck
1000+ Penny Miser Member
1273 Posts |
Posted - 01/13/2010 : 17:46:58
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China wasn't buying anymore of our debt till Hillary went over there and offered them something to continue buying it.
What that something is or was is not being released.
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 01/13/2010 : 17:58:16
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quote:
Originally posted by redneck
China wasn't buying anymore of our debt till Hillary went over there and offered them something to continue buying it.
What that something is or was is not being released.
>
gold plated tungsten, and if you act now, we'll store it for you for free at fort knox and teach you how to write your own derivatives on it. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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copperhead57
Penny Collector Member
USA
255 Posts |
Posted - 01/13/2010 : 19:10:21
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quote:
Originally posted by uthminsta
Sell California to China? Or all the roads? These are the options??!?!!?
Don't forget about General Motors. I'm pretty sure the Chinese will eventually own it. |
copperhead57 |
Edited by - copperhead57 on 01/13/2010 19:13:33 |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 01/14/2010 : 16:56:28
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| Maybe there is no need to repay it since the same Masters own each country. |
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Think positive. |
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USA WILL NOT REPAY $1 TRILLION DEBT TO CHINA
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