Consider this doomsday scenario:
Catastrophic impacts felt by every American.
A broad range of government payments stopped, limited, or delayed, including military salaries, Social Security, and Medicare payments, interest on debt, unemployment benefits, and tax refunds.
Sharply higher interest rates and borrowing costs, declining home values, and reduced retirement savings for Americans.
In sum, a financial crisis more severe than the crisis from which we are only now starting to recover.
My words? Not a single one!
They are all taken directly from a widely distributed Treasury Department letter dated exactly one week ago.
The letter is addressed to Speaker of the House John Boehner.
The signer is Treasury Secretary Tim Geithner.
And his single purpose is absolutely clear:
To implore Congress to act urgently — to raise the nation’s debt limit and let the federal government continue borrowing to its heart’s content. As long as Congress can agree to that one piece of legislation, goes the appeal, the United States can avoid the doomsday scenario with no further ado.
However, his letter fails to address two facts of extreme relevance and significance …
Fact #1. Mr. Geithner is not the first Treasury Secretary in recent years to pull the doomsday card in order to persuade Congress to act urgently.
In November 2008, his predecessor used the same tactic but with the addition of some body language:
With Wall Street on the verge of a total meltdown, former Treasury Secretary Henry Paulson literally bent down on one knee and pleaded with House Speaker Nancy Pelosi not to blow up the financial system by withdrawing her party’s support for the largest bank bailout of all time.
More Here..
Catastrophic impacts felt by every American.
A broad range of government payments stopped, limited, or delayed, including military salaries, Social Security, and Medicare payments, interest on debt, unemployment benefits, and tax refunds.
Sharply higher interest rates and borrowing costs, declining home values, and reduced retirement savings for Americans.
In sum, a financial crisis more severe than the crisis from which we are only now starting to recover.
My words? Not a single one!
They are all taken directly from a widely distributed Treasury Department letter dated exactly one week ago.
The letter is addressed to Speaker of the House John Boehner.
The signer is Treasury Secretary Tim Geithner.
And his single purpose is absolutely clear:
To implore Congress to act urgently — to raise the nation’s debt limit and let the federal government continue borrowing to its heart’s content. As long as Congress can agree to that one piece of legislation, goes the appeal, the United States can avoid the doomsday scenario with no further ado.
However, his letter fails to address two facts of extreme relevance and significance …
Fact #1. Mr. Geithner is not the first Treasury Secretary in recent years to pull the doomsday card in order to persuade Congress to act urgently.
In November 2008, his predecessor used the same tactic but with the addition of some body language:
With Wall Street on the verge of a total meltdown, former Treasury Secretary Henry Paulson literally bent down on one knee and pleaded with House Speaker Nancy Pelosi not to blow up the financial system by withdrawing her party’s support for the largest bank bailout of all time.
More Here..
I have written my rep twice demanding she vote NO on raising the debt ceiling and twice, I have received no reply, not even the generic reply that says "Rep [insert name here] is working hard for you and your abundant future"...
ReplyDeleteWe know this debt will never be repaid and the sooner the system crashes, the better for everyone, except the wealthy elite who caused this mess. They will be hiding in their mansions and will never come out, just like George Bush, who stays locked up in his home in a gated community, knowing if we leaves home, he's subject to arrest for crimes against humanity. That my fellow citizens is priceless.
When will the cops of the world come and liberate the Americans from their hostile oppressive government?
ReplyDeleteChina, EU, Russia, N Korea, anyone? We need your help, people are being imprisoned, tortured and millions of families are being wiped out.
9:36 - wrote your Congressman? Too funny. Sorry to inform you but they answer to the money masters, the corporate elite, the Global Bankers that BOUGHT them. They don't give a rat's ass what you want.
ReplyDeleteFirst step: Admit you are a controlled slave with no say in anything. Then progress from there.
Yes, I wrote my Rep too. His response to the Patriot Act was I'll keep your thoughts on this matter and thanks for writing. Then he went on to explain how important the passage of the Patriot Act was for our freedom from terror, UH?
ReplyDeleteThen another letter stating how he appreciated me writing about not extending the Debt Ceiling but there were greater issues to consider.
It is all BS and they all answer to the Globalists both Dems and Repubs so they can have that nice little underground hideaway when all hell breaks loose!
We're F******!!!
“Wrote my Rep” LOL Why don’t you sign a petition next.
ReplyDeleteThanks for the laugh.
I wrote my rep to be able to honestly say "I tried my best, I did everything responsible citizens are supposed to do". "I did all of this again to honestly say I did my best to bring about non-violent change.
ReplyDeleteI am locked and loaded. I have plenty of food and water stored away. As a former cop, I can thank the police academy for teaching me how BAD GUYS MAKE BOMBS so I will recognize them as a bomb if I ever found one on the streets.
Remember the old news story... a small group of prisoners were assigned to clean a section of the prison, they really wanted the place so clean "the Virgin Mary would be proud to go in there and take a dump". The prisoners mixed up a bucket full of bleach and ammonia and then started mopping, in very short order, they inmates started to pass out. The news reporter made it very clear that you should NEVER mix these two chemicals together because they will generate a DEADLY POISONOUS GAS!
Now that you know, you should keep a look out for large quantities of bleach and ammonia in case a bad guy tries to make a chemical weapon.
I agree, the Congress is bought and paid for and that's exactly why We the People need to dismiss them and start over.
The NRA states'
"There are well over 250 million privately-owned firearms in the U.S., including nearly 100 million handguns and tens of millions of “assault weapons”—the types of firearms that gun control supporters have tried the hardest to get banned —and the number of firearms typically rises about 4 million per year. Annual numbers of new AR-15s, the most popular semi-automatic rifle that gun control supporters call an “assault weapon,” are soaring. In 2008, there were more than 337,000 new AR-15s configured for home defense, competition, training, recreational target practice and hunting."
So we have 250 million guns in private hands. I understand that does not mean we have 250 million (one per weapon) armed citizens.
The military has a Total head count of 2,475,967. This does not mean there are 2,475,967 combat ready troops. Many of these people are non-combat personnel, such as doctors, nurses, cooks, clerks, machinists and mechanics, instructors and trainers. The US military could NEVER win a conventional "face to face" "hand to hand" confrontation against an armed civilian revolutionary force. They would have to engage the use of WMD's that kill EVERYTHING THAT HAS A HEARTBEAT, including women, children and the innocent. They are already doing that in Iraq, Afghanistan, Pakistan and Libya. The men and women that push the button that kills innocents from thousands of miles away are being trained to have a hard heart and a sociopathic mind, one who can kill innocent people and still sleep that night.
This is our future enemy.
Does anybody honestly think the debt ceiling will not be raised? Get real - it's just a bunch
ReplyDeleteof horseshit posturing and posing. People STILL
do not understand our fiat money system and how it works; there is NO crash until the world crashes with the USA - PERIOD ! Get it !There is
NO current currency that can replace the dollar
% years from now? maybe; but not today, not tomorrow and not next year either. It is always
wise to be prepared - look at the goofy weather
across thge globe. But don't spend your time trying to time the last gasp of the dollar -
you'll be waiting awhile as Ben can, has and will print the fiat dollar indefinitly - and I might add; with success.
Most "sound money" historians place the "current
real value" of the dollar at somewhere between 4 and 19 cents.
When it's fiat paper, backed by false numbers and even falser accounting methods ( which have never been audited) it's "real" value can be zero - -
As long as other goverments and domestiv persons
ACCEPT IT
There is no limit. This is not Germany or Argentina - we are talking about the glue that
holds the entire worlds banking systems together
They are all smart enough to know that until a new system is in place - it is in everyones best interests to keep the worthless dollar
Alive and ---- well? Truly historic and truly amazing
5:55 wrote:
ReplyDelete"They are all smart enough to know that until a new system is in place - it is in everyones best interests to keep the worthless dollar"
Ever heard of the Gold/Silver standard? The dollar needs to be based on this standard and the sooner, the better. I would really prefer having a job and health care for my family, a decent car in the driveway that's not 18 years old with a constant "Check Engine" light on. I would rather work full time and hopefully have a one or two week vacation every year. It's not too much to ask, but the "elite" whoever the hell they are, won't allow it! The elite do not want a Gold/Silver standard, they want EVERYTHING! They want to sit in their $2,000.00 leather chairs and watch us starve on CNN Live!
I would rather be known as a man who died fighting for freedom than to be known as a man who starved to death, knowing full well the "elite" were the cause of all this shit.
Hey 5:55, thats just it- there is an alternative to the dollar-it is going to be a brand new global reserve currency printed by the IMF or world bank. All the major countries are calling for it, and itll probably be called the bancor or something of the sort.
ReplyDeleteAnyone who makes fun of someone for at least writing a congressman to voice their opinion, even though they realize it likely won't solve much, is kind of a douche in my book. We all know the political system is useless and rigged. But sometimes it doesn't hurt to try, and occasionally a small battle can be won. Just dont expect to change the world, and also there are far more things that one can be doing than going out and casting your vote, which is usually a waste of time.
ReplyDelete8:54, Please don't tell me the majority of Americans will sit down, shut up and accept this "Bancor" as a new form of currency. It's not gonna happen... but then if Osama Bin Obama is selected for next season's "Dancing with the Starts"...
ReplyDeleteThe main problem in America today is a Ponzi economy debt crisis ,an inability of America to service the interest and dividends on past issued loans , government commercial and private debts
ReplyDeleteThis has led to a refusal by World capital to make new investments in debts.
Old lifestyles cannot be maintained by the middle class and government handouts are threatened by “Austerity” So Marx as prophet has been proven wrong about future economic development ,crisis and class struggle in America . He was in V. 1 of Capital ,mostly concerned with the nature of money and value, with production and with the distribution of newly created wealth in society, in an economic system he claimed was organized not to serve human needs but to serve the interest of profit creation for the benefit of old past accumulated property/ money/ wealth holders , investing old value / money as capital to exploit the labor of the living. He thought after making a class analysis and examining the way capitalism functioned that the proletariat (those without property)in those days in England the exploited industrial working class , would revolt against their enslavement by the capital of the then dominant industrial capitalist class .
But ,in America today , an actually exploited industrial American working class is now hard to find ,only growing number of Dept Peons .
The contradiction is with finance capital Capital has more than one way to skin the cat
The American dollar hegemony Empire in recent decades has had its consumption financed by credit from the invested savings of the rest of the world , by a willingness of the ruling elites of the of the Third world, like the Chinese “communists” to transfer the biggest proportion of profits realized from the sale of their cheap labor goods to retail America . As well as from the American military backed dictators like the Saudis to price and sell their oil in exchange for dollar paper, that they reinvested in treasury and US property bonds.
America was a nation of parasites consuming more labor created wealth than it creates on credit Even those on minimum wages or existing on government handout welfare incomes consume more wealth than the productive workers of the Third World.
The % of industrial workers in the population producing new commodity wealth is now very small Production for profit in commodity goods has mostly been shipped out the cheap labor third world ,with most remaining industry jobs connected one way or another to a subsidized by government military industrial complex. whose product is “blown up” in wars or by value destroying obsolescence as with the Trillion $ spent in military aero industries .
True , as long as the property bubble lasted ,a small % of productive workers were still involved in construction. Other workers ,in transportation shipped the third world produced commodity goods to the retail malls ,or worked as security guards and shopping cart collectors .
Others in services .include Banksters interest and rentier incomes , those earning in Adverising foreign made goods ,selling real estate mortgages and facilitators for selling and collecting credit card debt , or employed in an education system financed by government student loans debts Small business is retail ,cleaners ,or lawn mowers ,finger nail painters, electricians ,plumbers and other home delivery services like pizza consumption..
The old working class of America has been converted into a middle class of beneficiaries of Empire in a consumerist services economy where consumption is counted as 72% of GDP and profit pre crisis in the finance sector accounted for about 40% of profits. These profits were mostly derived from gaining fees and a profit cuts either from managing
the foreign supply of credit provided for investment in Treasury and property bonds or on cheap Mortgage money provided by the US printing press .
Only a small %is involved in agriculture .
What an economy!
In the worst scenario USA will become another sad third world economy.
ReplyDelete