Reply #57: public debt is debt accumulated directly by a government, private debt is owed by people and firms

[stockholmer]

The problem occurs under the fascistic practice now going on where the losses of big banks and firms are now being transferred unto the backs of the nation's people, yet these same companies and banks get to keep all their so-called profits.

TARP and the other bank bailouts, basically interest-free loans from the US Fed for the same banksters (many of them not even in the US) takeovers (GM, Fannie Mae, Freddie Mac, etc in the USA) are perfect examples. The US Fed basically gave away trillions of dollars to foreign banks and firms, even one owned by Qaddafi in Libya. http://rt.com/usa/news/federal-reserve-gaddafi-owned-bank/

You, as an American, now will have to pay all these trillions back, plus your 'official national debt' of $14+ trillion. Fannie Mae and Freddie Mac alone have debts well over $6 trillion, and these are not even counted yet, they are kept 'off-balance sheet'. It is a giant ponzi scheme, and we all pay for it, some counties like mine (Sweden) not much at all, others, like yours, will pay dearly, through drastic decline in your way of life (look at what is happening in Ireland, Greece, Portugal, etc), as this is coming full steam to America.



FED GAVE BANKS 23.7 TRILLION NOT 700 BILLION -DYLAN RATIGAN
http://www.youtube.com/watch?v=4g6fk7KqxvI


ps- we are not all blondes here, lolololol, Iceland, Denmark, and Norway especially, as we have huge immigrant percentages (especially Sweden), and also many brunettes/redheads of ethnic Icelanders, Norse, Swedes, and Danes. Finland is the most blonde of the nordic.

:hi: