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Get Out of Debt Now! – Penn Point

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By 2020, the US will have to run everything for 8 cents on the dollar.   We will be paying 28% interest on our money.

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ABOUT PENN POINT
Penn Point is no ordinary vlog. It’s a virtual conversation about today’s hottest topics. Penn Point brings you a front row seat to Penn Jillette’s unique and passionate point of view in a compact vlog, four times a week!

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Comments

Entropy56 says:

Everywhere is freaks and hairies
Dykes and fairies, tell me where is sanity
Tax the rich, feed the poor
Till there are no rich no more

I’d love to change the world
But I don’t know what to do
So I’ll leave it up to you

Population keeps on breeding
Nation bleeding, still more feeding economy
Life is funny, skies are sunny
Bees make honey, who needs money, monopoly

I’d love to change the world
But? I don’t know what to do
So I’ll leave it up to you

mrtalos says:

Piers? Morgan…. We are sorry USA, we don’t like him over here, didn’t want him to annoy the rest of the world.

IoEstasCedonta says:

Cato was once? asked, “what do you think of usury?” His only response was, “what do you think of murder?”

451harri says:

Penn has a surprisingly materialist views for a capitalist Libertarian. Just goes to show you, no one individual ideology has all the answers. Maybe someday we can drop the dichotomy bullshit and start talking about individual solutions to seperate problems of our sociopolitical situation, starting with broad secular humanist principles and working from there. Here’s to the day we? stop? acting like our parties and ideologies are at war, and instead choose to just work it out like adults.

moonshadow112358 says:

OMG that? picture was hot!

masonkiller666 says:

Yes, foundation of the federal reserve, jekyll island, etc. He supports ending? the federal reserve. I don’t get where you think hes wrong on this?

MrROTD says:

he doesnt know jack about? how the economy really works, go read some history about usa around 1913 its when America was sold to bankers.

MrROTD says:

for christ sake? its your central bank, they are charging you interest on YOUR money and getting away with it through inflation. ron paul is right, america needs to close the fed and print greenbacks again. while all of you argue pointlessly you are being robbed by a private bank, its almostthe same story here in canada and all over the world

MrROTD says:

you’re not mentioning the fact that you money is corrupted beyond belief. if you had honest currency thered be plenty of wealth for everyone but the money has been watered down so bad. a few people on these programs isnt the actual problem,? read a damn history book, USA sold out to banks in 1913 and the inflation started around then

JohnDoe4612 says:

Are we being run by hippies? Well… Actually yes. Pretty much all of these bib government programs that need the funding that we will be paying interest on are programs rolled out by the democratic liberals. Who makes up these liberals? Older baby booming aged hippies and younger liberals who believe the government should take care of them from cradle to grave. The govermet should be limited and have a have a minimal role not be a nanny? state. Theres no reason for so many entitlement programs.

CrackTheFox says:

Fuckin predictive? text!!

CrackTheFox says:

Penn is? a cocky!!

CrackTheFox says:

Cocky.?

zazack79 says:

Wish there were less apologies? in Penn’s rants. Taxes, goverment, interest are evil.

TheBoxingCannabyte says:

@darkblood626, exactly, which is why our system of “captilalism” is bullshit, and also, technology is exponentially increasing,? it doesn’t depend on money, it increases on it’s own, history shows that even during the poorest times in uman history we were still inventing and creating, so this whole idea that we need an unregulated free market is bullshit. complete bullshit, we wouldn’t be to where we are if that were true. I hate how any political party (libertarian, dem, rep) treats like gospel

Martin Phipps says:

I don’t mind paying interest on a mortgage because it’s like paying rent. I don’t have a? credit card though.

Martin Phipps says:

Bullshit. The military is free? What about? the defense budget?

gekapat says:

Programs? More like wars?

Md2802 says:

4:09 Damn! Teller hasn’t changed at? all.

kbrinks says:

Penn talking shit about Renfests. Booo!?

darkblood626 says:

The interest derives from a monopoly the Federal Reserve has the Americas currency they have the soul ability to create money out of thin air as debit that is then loaned to the? government at interest this interest is then forced form citizens at gunpoint.

HeartPiece4u says:

the muisc in this episode is so awsome. what is it??

KingPiccolOwned says:

@blahblahblah11129 Then do so, but don’t forget to cut spending, in all areas, as well.?

masonkiller666 says:

I? really wish I knew somebody like Penn in the real world :( . Such a wise man.

Hayleyfire929 says:

Good to see I’m not the only person obsessed with keeping a positive balance! :D

And yeah, regarding the? colossal deficit, there’s a nice quote: “A democracy will continue to exist up until the time that voters discover that they can vote themselves generous gifts from the public treasury”. Sums it up perfectly.

drealgrin says:

Don’t be dumb? Penn! Friggin What does Hippies have to do with Interest? Silly !

HalfDemonThomas says:

Actually, I would like to find? out about the weather channel’s bias. I’m not too astute to read into it.

hammerspark1 says:

Neurotic camera? switching is nauseating.

christo930 says:

Right now the gov has negative real interest rates. Right now, the smart people? with access to that gravy train are making a fucking fortune off this shit. How can you lose? OF course, the average asshole in the US can’t get this rate, but the big boys can. OTOH, we could be facing serious inflation over 10% so it might be a good idea to load up on debt now and pay back diminished dollars, even at consumer interest rates.

WalkaCrookedLine says:

@punkwasher The problem is, most “regulation” passed by the US government today is bought and paid for by lobbyists representing the industries that are supposedly being regulated. It does NOT serve to prevent “corporate crime”. It serves to give the highest? bidding corporations competitive advantage.

khwr0318 says:

Why oh why, is there an ad for a “find god” book before this? video?!

Christuserloeser says:

Credit Card companies and banks earn a lot by both, having your money and even more? so by lending you money and you paying interest.

TheeLynnChase says:

The problem is our entire monetary system is based on fiat currency. If there was no debt, there would be no? money. If that makes no sense to you, then you need to learn what money is, what gives it value, & who controls it. Do a You Tube search and watch an excellent documentary called ‘Money As Debt’. They don’t teach this stuff in school so Penn you didn’t miss anything. This is something you have to seek out to learn. Excellent post anyway as his way is the only way to game the system.

punkwasher says:

Only problem, less regulation = more corporate crimes. There never was, and never can? be a free market. 100 years ago capitalists complained about the new child labor laws, you can’t tell me regulation is purely bad, some regulation is necessary and indeed enhances productivity and life quality.

mark1m says:

The problem with explaining smaller government in ways that everyone can understand is that.. economics is an incredibly complex subject. Not everyone can understand it. You cant boil something down into easily explainable and relatable? principles that is largely based on very complex abstract ideas without losing a lot in translation. This ultimately leads to people trying to apply simple solutions to complex problems (libertarians)… which is often a recipe for disaster.

kestrel452 says:

Penn, I’d just like to express my SINCERE thanks for explaining the benefits of smaller government in a way that anyone can understand. When I started watching Bullshit, it really got the gear turning upstairs. I transformed from an establishment conservative to a much more libertarian (small government) minded man. I can now discuss politics and not just? talk out of my ass.

You’re a pretty sharp and honest guy, don’t let the fact that you didn’t go to college make you think otherwise.

umbilicaltapeworm says:

regardless of what YOUR money could do for ME, or perhaps for “society”, I still would not steal it. you own you, and by extension you own your labor and the product thereof. I believe that YOU are most efficiently able to spend YOUR money than anyone else, because you respect and understand? what it took to create that wealth in the first place. in a free market the consumer is king; every unit of currency is an EQUAL vote for the entrepreneur who best serves his customers.

dyingearth says:

Gee, Penn is following my financial religion rule #1. ? Never pay interest on credit card.

TheSaltyAdmiral says:

@umbilicaltapeworm
Democracy is the worst form of government except for all those others that have been tried.
- Winston Churchill

So I guess in your view, all tax is stealing, right? Regardless of? what that money actually does for the society you live in. If that is the case our views are so far aprart this discussion is pointless.

Governments can’t create? Moonlanding, The human genome project, LHC in Cern… but stuff like that is probably of no intrest to you?

zalmatra says:

i agree with penns statement

it dosent matter if we need or want something if we cant afford it we cant afford and shouldnt pretend? like we can im looking at you liberals…even more then the republicans

zalmatra says:

i agree with? penns statement

it dosent matter if we need or want something if we cant afford it we cant afford and shouldnt pretend like we can(liberals(

marktrade88 says:

Most of the interest is owed to the Federal Reserve aka the government. Worse than the debt is the ability the government has to lend money to itself from no where. That’s where new money comes from, increasing the total supply of money, and causing inflation.

If money wasn’t an artificial? construction controlled by the government and was instead something natural controlled by the market, we would live in a free society.

Assaultpredator says:

Wouldn’t it be “92 cents on the dollar?”?

Assaultpredator says:

do you listen? to freedomain radio?

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