Posted on 12/12/2014 12:18:03 PM PST by Rusty0604
I just wonder when the day of reckoning will be?
Erode away a building’s foundations and the reckoning might come slow or it might come suddenly. You don’t really know. But either way, it ends up flat on the ground.
“And this president is responsible for 11 trillion of the 17?”
No, the Congress is responsible for that. All spending originates in the house, so if the RINOs were not complicit, it couldn’t have happened.
I don’t make a distinction between the GOPe and the ‘rats anymore.
They’re both governing against the will of the governed.
Or the government could nationalize the debt which will very likely happen following the coming financial collapse
How about ending all foreign aid immediately and making Hussein and the democrats account for the all of the stimulus money for starters.....
The dollar is the world currency...so in some ways debt is meaningless....
At some point the “value” of the dollar will be reset to adjust for the debt....
Poof...it’s gone....
Of course the US citizens will be left with devalued currency, probably 50 on the dollar, but we will be solvent...
Think of it as trillions of your dollars funding liberal special interest groups who will fund Democrat party elections for the next 100 years.
Anarcho-socialist-Communists are waiting in the wings for that "collapse" to occur.
“If things can’t continue going the way they are, they won’t.”
I think that was attributed to William Crystal’s father, Irving Crystal.
When you owe the bank a $1,000 and can't repay it, you're in trouble. When you owe the bank $10 million and can't repay it, the bank is in trouble.
When our country owes over $18 trillion in debt and we can't repay it, we're not in trouble, the debt holders are. Of course, that's simplistic but it makes the point. If we were to default on our debt, this analogy doesn't factor in the steep inflation of the dollars (or whatever the government issues as new currency) that would occur when we used them to conduct our daily business and financial affairs. The currency would be worthless.
It is the world currency...for now.
——It is the world currency...for now.-——
And will be for a very long time... No country in the world is even remotely ready to have their currency replace it....
Don’t embarrasses yourself by saying China....
“Yuan to supersede dollar as top reserve currency: Survey”
http://www.cnbc.com/id/101450365#.
“Yuan Has Real Shot at IMF Blessing on Reserve Status”
http://www.bloomberg.com/news/2014-12-11/yuan-has-real-shot-at-imf-blessing-on-reserve-status.html
So?
Just REPUDIATE the debt. Refuse to pay.
Throughout history, that is what governments HAVE ALWAYS DONE.
Exactly what’s so different about today?
The Headline is quite misleading ...
I did actually read it. I don’t think the yuan will ever replace the dollar, but they are setting up some trade with their currency. No currency stays the reserve currency forever.
“He obviously intentionally ran it up in order to make paying it off impossible.”
Not just Obama. Since January 2011 the Republicans in the House have been complicit in every dollar spent by the federal government and every dollar added to the debt. Just as they were today.
“Run thy business or thy business shall run thee” Ben Franklin
heh.
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