On Oct 8, 3:54*am, "Bob-tx" No Spam no contact wrote:


*Demand eleven: Immediate across the board debt forgiveness for all. Debt
*forgiveness of sovereign debt, commercial loans, home mortgages, home
equity
*loans, credit card debt, student loans and personal loans now! All debt
must
*be stricken from the "Books." World Bank Loans to all Nations, Bank to Bank
*Debt and all Bonds and Margin Call Debt in the stock market including all
*Derivatives or Credit Default Swaps, all 65 trillion dollars of them must
*also be stricken from the "Books." And I don't mean debt that is in
default,
*I mean all debt on the entire planet period.



This one is a good example of the total ignorance
of this rag tag group of misfits and more than
enough to totally discredit them. The total
devastation of what this would do to the economy
and everyone in it is apparent to anyone with
a brain. Here are just a few examples:

Grandma has a retirement account invested 100% in
bonds. That account is now worthless.
Joe sold his house last year and took back a
mortgage, receiving a payment every month. That
mortgage is now worthless and he receives
no more payments. The guy who bought the
house is the lucky beneficiary of Joe's misfortune
and now owns the house free and clear and only
paid whatever he put down to buy it. Same
thing with the new car Bill bought on credit
last year. He owns it and the banking company,
who issued the loans is bankrupt. The folks
who happen to own stock in that banking
company, either directly or through say a
pension plan that is invested in stocks, just
lost a chunk of their pension....

Obviously the loons who came up with this
list have no grasp of even the simple examples
above about how the economy works. Yet, they
think they know how to run an economy. Go
figure.