On 13/05/2010 6:20 PM, Darren New wrote:
> Stephen wrote:
>> Wasn’t California in danger of becoming bankrupt recently?
>
> Everyone is already bankrupt. That's the nature of government and
> debt-based money.
>
> The danger (and what came to pass) is that they got *so* bankrupt they
> couldn't meet their obligations even *with* the ability to print money
> and/or take it from someone else by force. But it's kind of complicated
> because the feds take huge amounts of money, then give it back in
> different allocations to the states, so the state being bankrupt was at
> least as much the fault of the federal government as anyone here. The
> thieves were stealing from each other too hard.
>

Thanks, I think that I'll go back down the bunker now. :-)

-- 

Best Regards,
	Stephen

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