Posted on 05/01/2023 7:09:35 AM PDT by Kaiser8408a
Thanks to O’Biden (Obama/Biden) and Senate Majority Leader Chuck Schumer’s failure to negotiate a debt ceiling increase, the US has officially become a banana republic. Crazy government, lawless censoring and arrest of opposing political candidates.
The US CDS 1Y SR Eur just hit a staggering 176.53. That is the price of insuring against a debt default by O’Biden and Treasury Secretary Janet Yellen.
Is a US debt default likely? It shouldn’t be. But you never know with the circus clowns in the White House and nasty Chuck Schumer. But arresting the leading Republican Presidential candidate before the elections is pure Chavez/Maduro Banana Republic politics.
(Excerpt) Read more at confoundedinterest.net ...
btt
1.) Some want A.) a ‘clean debt ceiling bill” that ultimately ends up being a dirty debt ceiling bill without cuts.
2.) And they insist on B.) raising the debt ceiling first and then tackling spending cuts separately.
3.) But others say let’s raise the debt ceiling bill while cutting back on things some on the left and right won’t like - domestic welfare spending and military spending - and make it bipartisan.
4.) And once again we are back in the same place time and time again where we might have a debt ceiling raise bill that ends up dirty.
5.) And it will end up being chock full of corporatist handouts in it and most from both sides will vote yes on those.
Of course they will.
Standard Operating Procedure.
Blame and Project.........................
US debt default would be meaningless.
If the federal government (with an effective tax collection entity such as the IRS) is willing to pay more than the local bank, the federal government will be able to borrow money.
Uncle Sam 5%
local bank 4.5%
“THIS NOTE IS LEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE”
Who cares if Uncle Sam won’t pay out, just hand the bond to the IRS or the mortgagee.
‘US has officially become a banana republic”
Actually we’ve been a banana republic for some time ever since they began screwing Trump over. Now it has just slipped into high gear.
Debt default would be like a tax cut for the rich.
As per Amendment XIV, the IRS can not question the value of a $10,000 face value US bond bought for 95 $100 bills.
All we lack is Cavendish bananas on trees, and smart politicians.
👍👍👍👍👍
via google:
Treasury Yields
Name Coupon Price
GT2:GOV 2 Year 3.88 99.59
GT5:GOV 5 Year 3.50 99.78
GT10:GOV 10 Year 3.50 100.22
GT30:GOV 30 Year 3.63 98.39
“let me assert my firm belief that the only thing we have to fear is fear itself–nameless, unreasoning, unjustified terror”
https://historymatters.gmu.edu/d/5057/
Democrat FDR 1933
There is a weird YouTube video of a time traveler named John Titor.
He claims that in HIS timeline Y2K was a serious disaster which let to CW2.
The two sides were the cities against the suburbs. He lamented that he may have changed OUR timeline by coming back to 1975 to retrieve a computer that helped prevent Y2K and a nuclear war.
Yes, I know this is a serious simplification of the whole story... But it’s freaky how many things he got right.
Especially the CW where they barricaded the cities to keep people INSIDE.
He describes almost exactly what we are seeing today.
The title, “The United Banana Republics of America””, remind me of some interesting instances. The old United Fruit Co., later Chiquita Bananas and Chiquita brands, was a front company for the CIA. They were also a front company for the old TRT Telecommunications who were in Hallandale, Fl. They were involved with an aviation firm in Miami that another CIA from and similarly with Doane Aviation in Daytona.
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