[snerd]

Should the U.S. government default?

Wrong question.

The right question: Can the U.S. government avoid defaulting? The answer is clear: no.

It will default. It is $222 trillion in the hole. That’s the present value of its future obligations.

Of course it’s going to default.

Would that be bad? Not for taxpayers. Would it be bad for the Powers That Be who run this country? Yes. Devastating.

Would it be bad for federal bureaucrats? Yes. They would lose their jobs.

Would it be bad for people who are dependent on the federal welfare state? For a while, yes. But they will recover. Necessity is the mother of invention.

It’s coming. The mainstream media have ignored this statistically inevitable problem. The problem threatens the Establishment as no other. So, the media pretend it does not exist. But the blackout may at long last be cracking. We read this on PBS.........

http://lewrockwell.com/north/north1264.html

[John_NJ]

The next question is -- when does China collect on the US debt send their troops to seize US assets after the default!

[snerd]

I thought they had permanent residence in the Lincoln Room in the White House? Oh, wait, that was another hick president.

[JBnTX]

I think deliberate default is the plan.

Obama wants to tear it all down and then rebuilt a utopian socialist society completely dependent on government.

[sheriff733]

Originally Posted by JBnTX

I think deliberate default is the plan.

Obama wants to tear it all down and then rebuilt a utopian socialist society completely dependent on government.

/thread

[EnemyOfTheState]

Some folks think the dollar will collapse because they'll print money to pay off the debts. I say no, because the Government will simply default and stiff all of it's creditors.
The owner of most of the debt is the Federal Reserve, so what does that mean?

China won't send troops to seize assets because the cost in life and logistics would outweigh the debt we owe them. Nukes and an armed populace isn't something the Chinese would be willing to face over a debt.

I think the most likely outcome is China demands a payment plan of
sorts or the US allows access to some resources or something in exchange for debt forgiveness. The other debt holders are ally nations and the debt to them will be forgiven.


I think the most likely outcome is the US becomes China's servant.

[DWARREN123]

I think most governments are near the end of their peoples money. One major player fails and others will follow.

[series1811]

Originally Posted by EnemyOfTheState

Some folks think the dollar will collapse because they'll print money to pay off the debts..

It's already being done.

[series1811]

Originally Posted by DWARREN123

I think most governments are near the end of their peoples money. One major player fails and others will follow.

I think a major resetting of global politics is coming. It's not like it hasn't happened over and over again througout history for similiar reasons. We are not special. God has not written that normal economic rules will never apply to us.

[EnemyOfTheState]

Originally Posted by series1811

It's already being done.

They have no intention of paying off their debts.


The debt wouldn't be as high as it is if they were serious about paying it off. That being said the dollar is still subject to devaluation and has an expiration date such as the case with any fiat currency. I just don't think it's there as long as we will invade any country that tries to boot the dollar. But I will still keep buying gold.

Bernanke isn't printing money to pay off China, it's all going into the economy to give the illusion of growth to make the powers that be appear as though they are making progress. And to keep the sheep happy of course.

[JBnTX]

Originally Posted by EnemyOfTheState

They have no intention of paying off their debts.

The debt wouldn't be as high as it is if they were serious about paying it off.

Exactly right!

Most of it will just simply be written off.
Deals with other countries will be made to pay some of it.

And a massive tax increase on taxpayers will take care of the rest.

All at the expense of the credibility of the United States and the value of the dollar.

..

[Atlas]

Originally Posted by series1811

It's already being done.

That is exactly correct.
Many, perhaps most, are too ignorant of currency and banking/central banking to see it. They feel it everyday, in a multitude of everyday ways, but they cannot understand what it is or identify it as such.


"All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation."
-John Adams, 2nd president of the United States