Ron Paul: "The U.S. Government Must Admit It Is Bankrupt"

"Thousands of years in the future, the canine population of planet Earth, along with their robot helpers, sit around campfires and tell each other fables that relate, most controversially, how they owe their ascendance to an extinct and perhaps mythical species of benevolent, if misguided, humans. A bleak, melancholy portrayal of humanity's prospects for survival, "City" is unusual not only for its dystopian vision but also for its often pastoral storytelling. ..."

http://www.amazon.com/City-Clifford-D-Simak/dp/188296828X/ref=ntt_at_ep_dpi_3

 

Very cool. I'll have to read that book.

 

Just how is military supremacy going to save us from bankruptcy? Is your grand plan to invade a bunch of other countries and steal all their stuff? Good luck with that -- we can't even pacify Afghanistan. The truth is that our military empire is a major part of what is bankrupting us, as Ron Paul has pointed out numerous times.

 

The result of paying for everything by printing more money is hyperinflation. I regard that as equivalent to default and bankruptcy.

 

The biggest danger is what you cannot see.

 

The Bible do not lie, is the word of God. This world should give rise to the kingdom of Christ, the “cleaning” is painful, but Jesus will restore everything. Who want to go with Him? Repent and join to Christ that you will have living with the eternal God, righteous and loving, the Lord of all the law of life, of love and peace, the true Light.

Swearing, and lying, and killing, and stealing, and committing adultery, -they break out; and blood toucheth blood.

For this shall the land mourn, and every one that dwelleth therein shall languish, with the beasts of the field, and with the fowl of the heavens, yea, the fishes of the sea also shall be taken away." (Hosea, 4:1-3)

REST IN PEACE

 

Technically you're bankrupt if the value of your debts exceeds the value of your assets. The US can print money to pay its debts, but pretty soon, holders of US government bonds will demand higher premiums to cover the losses to inflation. Remember, the government can't service the debt if they can't sell treasuries. Interest rates will rise to 10% then 20% then 30% at which point the entire system will break down.

Unfortunately, The UK, France, Portugal, Ireland, Spain, Greece and Italy are in much the same predicament. Greece and Portugal will goes first and we will probably see a domino effect.

But if the US goes, everyone goes. We're talking about a total collapse of the economic system worldwide.

 

The world economy is a "human body" and USA is the "head" of this body.

A powerful blow to the head crashes the whole body.

 

Which is why Odumbo want's to deficit-spend another $Trillion. Quick! Before the money becomes worthless...

 

thought of this strange scenario the other day, wonder if anyone have any better insight, say if the Fed prints to infinity, purchases ALL the treasuries and then wipe off the whole US gov't debt, what happens then?

say if the Fed prints to infinity and purchases every single stocks in the market, and say if the USD becomes junk, that's still alright since now the Fed a.k.a. Banks holds every stocks, and leave rest of whole holding worthless papers, what happens?