I still recommend that you invest in some education on the nature and workings of the financial world, Arjay. All this cut'n'paste from conspiracy web sites about the elites and the Rockefellers and the secret cabal of bankers is not helping. Try taking my advice, just for once, and "follow the money".

>>Pericles the debt is ficticious because they are stealing from the people via inflation (ie counterfeiting)and demanding it be repaid with interest.<<

You cannot insist upon repayment of a fictitious debt. Try this exercise. If you borrow money from your Bank - let's say, to keep it simple, that you run up an overdraft one month to the tune of $100 - is this debt fictitious or real?

And about that $100 - did you spend it? Of course you did. You put that money back into the economy, in return for which you received either goods or services. Whichever way you look at it, that debt is real. Not fictitious at all.

It is certainly true that banks have been extremely lax in their lending practices. Unfortunately, if you try to solve the problem by saying "Stop!", you would quickly realize how dangerous that is. To real, ordinary people.

Tell me this, Arjay. Should the US lift the debt ceiling, or not?

If it does not, there will be defaults. Who, do you think, will suffer most when this happens?

Because it won't be the bankers, that's for sure.

As I said, follow the money.

Pericles,you are trying to save a dysfunctional,unfair decayed system.If they increase the debt ceiling,they are delaying the inevitable.What should happen is a Glass Stegal Act be implemented so the that the bad investments and Companies and separated from the good ones which actually produce something that people want to buy.Right now no one knows how the worthless derivatives are tied up with your eg super,shares in productive companies,sound good banks etc.Triage the derivatives and save the real sound investments and companies.

All the debt that the Fed Res has created from nothing should be wiped out since this is theft via depreciation of the peoples' money.Put a tobin tax of 1% on all share market and foreign currency transations.This will give an ample supply of money for the US Govt to function.

Next reduce Govt spending,bring the troops home and support Ron Paul in the ending of the US Federal Reserve.Ron may have a good chance now Ruppert Murdoch has fallen on his sword.

It may not be a perfect model Squeers , but compared to all other Ideological paths and forms of Government and non Ideas , it is the only mechanism that promotes prosperity and well being , and it always has ;
Africa is perhaps a better example of this if the feudal system if it is chosen to describe it – but through Natural attrition – social patterns and social interaction , it changes to benefit everyone ; from prosperous nations as a whole because of it , to become a basket case for Despots when Intervention is sought by State Imperialisms.

The confusion seems to be the difference between the description of Wealth and Money; Wealth could be well described as the outcome of productive society, to which a value is in essence aesthetic and does not carry any absolutes other than personal judgement of values ; thus it is its bearing governed by a strong moral and ethical standards ;

Whereas Money is merely a tool of trade that has been manipulated in an Absolution’s notion to now account for wealth , and it is held in abundance by a few selected entities ; in an ethical society, you or me or no one can print their own money or exceed any fiscal parameters because of that fact;
as no more we can pluck gold bars from the air ; And be it the Free Markets will not accept fiat paper moneys; This act alone was the domain of Government that demanded, and by threat and compulsion for everyone to accept their treasure.

Fowlers describes the worrd "Imperialism" s...This word is first attested in the 19th century, when it reflected the British politics of the time and denoted what was seen as the benevolent spirit or principle of empire. In the 20th century, it came to be used disparagingly, first by the Communist bloc with reference to the US and the Western powers generally, and then conversely to refer to the imperial system or policies of the USSR in the countries over which it held sway. Imperialism is now a largely historical concept, although the word is still used in political writing of the continuing or potential imperial policies of certain countries, predominantly the US but also the West generally in the context of Middle Eastern politics. Cultural imperialism is the attempt to impose social or cultural characteristics, such as language, on other nations, typically to further the political and commercial interests of the imposer:
So in what sense Arjay are you using this word - I presume it would be
as used by the Communist bloc?

I am not sure about that kman, Roam, Japan – China history? Just to name a few. Nationalism is a 19th century trait on the other hand; France 1848.
Communism or Socialism is perhaps best described as Ideology , thought up in principle by Germany and England , France , and with the risk of creating a grander argument , it is attributed to Governments of whatever kind and or denomination you wish to name , funded by Taxation and Yes , Central Banking , along with and also to fund their war efforts ; or simply Socialism of the Right.
Left wing socialism is only conservative in its already established boundaries, and too date has not ventured outside its borders, but administers its despotism internally; and wishes not to administer despotism anywhere else.

Any Government that comes to power almost immediately turn Right wing, or Conservative; but in this context Conservatism illustrates the preservation of Power and wealth of the privileged Oligarchic and ruling classes, by whatever means necessary; and perhaps that part in as much is true when you have mentioned it to be a 19th century phenomena; But It is not unique.

That might be a problem, Arjay.

>>All the debt that the Fed Res has created from nothing should be wiped out<<

In fact, that would be a serious problem. Have you any idea what would happen if the US defaulted on its debt? Any idea at all? Any conception of the chaos that would follow, and the hundreds of millions of people who would suffer as a result?

Thought not.

Follow the money, Arjay.

Ask yourself what would happen if the US government stopped paying its workers, stopped the welfare payments, stopped paying its suppliers, stopped the interest payments on the debt held by other sovereign nations.

Don't just spout theory.

Get real.

Just for once.