The only way to usher in a PM-backed new currency. It has to rise from the ashes.
Posted on 12/05/2023 3:44:08 AM PST by davikkm
Our national debt has hit an alarming $33 trillion and shows no sign of slowing down, signaling a looming financial crisis. The situation becomes even more concerning as recent bond auctions fail to raise the desired amounts, with some falling significantly short.
The USA is on an unsustainable financial path, with projections suggesting a potential default within the next 20 years if corrective measures are not taken. Bloomberg Intelligence emphasizes the urgency of the situation.
(Excerpt) Read more at citizenwatchreport.com ...
Yellen says...don’t worry. lol...like she cares...
Don’t worry, our kids will pay it off with whatever they can make from the jobs that haven’t been outsourced.
Default, with 33 trillion in debt, is a question of when, not if.
Our debt is $33.889 trillion and the only noise coming out of the House is how much additional foreign aid US taxpayers should dole out before Christmas. This will all crash, so take precautions to the extent you can.
The only way to usher in a PM-backed new currency. It has to rise from the ashes.
Per the 14th Amendment USA debts get paid first.
So ALL non constitutional “ABC” agencies will be un funded.
Not such a bad idea.
BTW Social security is not part of the budget, it is self funded. That is why it is going broke.
Whenever I see this kind of statement, I always have the urge to post this for the author of the article:
Not to say it is a bad thing to point it out, just saying...if someone in the target audience doesn't get it by now, they aren't going to get it until the crash comes and hits them across the face like a cold, wet, rotten flounder.
Yellen doesn’t work for US...she works for the Davos/IMF crowd to our detriment.
Always has.
And we have feckless “leaders” who simply won’t stop spending money that isn’t there.
At this point this country is so screwed. Don’t care so much for me tho projecting down the road, I do not know how I will ultimately end up before death...but my kids and grandkids are really going to suffer.
Zee plan iz verking well...
I’d worry except we started hearing the same thing back when Reagan went over s trillion and have heard this every year since.
amazing the lengths the powers that be go to in order to convince the general public that this breaking of the financial back of these United States of America is a serendipitous event, not planned, but good for Americans. yeah...because when we can’t afford an electric vehicle, can’t leave our homes because of some new pandemic...and all there is to eat are bugs, we’ll all stop thinking about our financial position. And it will be All good because IT WON’T MATTER ANYMORE!
Wait ,wait, Biden just said he cut the deficit in half.
“Social security is not part of the budget, it is self funded. That is why it is going broke”
Where do the social security checks come from? Is there a separate fund that is being drawn from, and that is also being fed by our and our employers social security payments?
It’s far closer to $34 trillion than $33 trillion.
Biden pushed so many expenditures forward to decrease the deficit that October looks really bad.
Social Security is combined with the general fund for reporting to deceive the public.
The national debt ($33.88 T)
SS comes from the Social security administration.
Much of their funds were invested in long term Treasury BONDs. Majority holder of Americas debt is us old farts.
Short term, working peoples 12.6 percent every payday goes into that administration and most is sent out to people that get social security and all the other crap congress raided for political gains. When payday funds aren’t enough they go to bonds and sell them at a loss. Bonds only pay face value when they mature. They do pay interest prior to “maturity”.
The whole system is going to be replaced so this one has to collapse. Likely in the next 12 months.
“and all the other crap congress raided for political gains.”
What does that mean? Are other government agencies tapping into the SSN funds? Sounds like dirty pool that could be turned into a worthwhile scandal for those not to blame.
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