Posted on 09/19/2012 4:55:16 PM PDT by Para-Ord.45
The import of the Romney statement is critical as it reveals just what the endgame may well looks like.
In response to an audience question:
Romney: [The] former head of Goldman Sachs, John Whitehead, was also the former head of the New York Federal Reserve. And I met with him, and he said as soon as the Fed stops buying all the debt that we're issuingwhich they've been doing, the Fed's buying like three-quarters of the debt that America issues. He said, once that's over, he said we're going to have a failed Treasury auction, interest rates are going to have to go up. We're living in this borrowed fantasy world, where the government keeps on borrowing money. You know, we borrow this extra trillion a year, we wonder who's loaning us the trillion? The Chinese aren't loaning us anymore. The Russians aren't loaning it to us anymore. So who's giving us the trillion? And the answer is we're just making it up. The Federal Reserve is just taking it and saying, "Here, we're giving it." It's just made up money, and this does not augur well for our economic future. You know, some of these things are complex enough it's not easy for people to understand, but your point of saying, bankruptcy usually concentrates the mind.
(Excerpt) Read more at zerohedge.com ...
This is a good piece. Basically he sees the U.S. as bankrupt, and of course, it is.
Remember back when we were arguing about raising the debt ceiling?
And the fact was, we had already passed the real debt ceiling, the one where no one is willing to buy your debt anymore. Still, they just blew right on by it and never slowed down.
By continuing to print money to buy the debt, the Fed delays the crash. If we continue to print money, the crash is coming good and hard. If we stop printing money, the crash comes good and hard and now. So Obama has set it up so that who ever tries to solve the problem will be blamed for the problem.
Thats the problem Romney faces. If he stops the printing presses the crash comes and he gets blamed. If he doesn’t stop them he is accused of continuing O’s policies (and the problem gets worse). In fact, he needs to stop them, but he needs to get the economy opened back up quickly to compensate for the loss of artificial liquidity. Like, move hard for energy independence so that the half-trillion a year we send out of the country gets spent here putting people to work here.
Obama/Soetoro on the problem,
“We don’t have to worry about it short-term...I dont remember what the number ( total debt) was precisely”
To translate, ‘ Hey we got cancer with 90 days to live but that`s ok, we won`t die today so don`t worry buddy pass the bong and party on ! ‘
Is it time to buy gold and leave the country..how close to the endgame are we?
I'm sure the greenie lawyers are ready and waiting with a full quiver of bogus claims, just to tie it up long enough to take it down unless Romney shows a serious spine.
Just remember. You will be a stranger in a strange land during a crisis. A natural target. If you can, go somewhere where you can look, speak, and act like a local. Someplace where you have a support system of friends and family you trust with your life.
Buggung out isn’t as easy in real life.
Ron Paul: Printing Money Only Prolongs the Pain - December 11, 2008... when silver was $16/oz, and gold was $850/oz...
Instead we just carry on doing the same old thing
.we spend more money, we run up more debt, we print more money, and we think thats gonna solve the problem that was created by spending too much money, running up debt, printing too much money and here we are today, stated the Congressman, adding that Congress was debating about tinkering on the edges while failing to deal with the big problem.
If only we were bankrupt! That would imply that there was some acknowledgement that we couldn’t pay our current debts, much less incur new ones until we made some serious adjustments. We’re still living in fantasyland right now, playing monopoly while the house is on fire.
“energy independence”
I agree. The new energy equation is a game changer and maybe the only way out of the trap. Perhaps Romney sees it the same way and is why energy is #1 in his 5 point plan for recovery.
“energy independence”
I agree. The new energy equation is a game changer and maybe the only way out of the trap. Perhaps Romney sees it the same way and is why energy is #1 in his 5 point plan for recovery.
“If only we were bankrupt!”
Then we would acknowledge that we couldn’t pay our debts and would repudiate it and have a balanced budget by close of business. Because we would have no choice.
Zact uh mundo!!!
And when will we see this come out?
Anyone trying to move forward, any and every business trying to move forward gets access to a new hotline for action, if government regulations are even part of the problem.
The only reason all this government waste and regulation exists is because it never overcame the strength of the rate of growth in a healthy economy. That is what's changed and that is what needs to be reversed asap.
Is this why agencies of the Fed Gov are purchasing ammo? For when all heck hits the fan?
When the government “loans” GM billions of dollars in phony money then gives it more billions of dollars in phony money to pay off the first billions of dollars and then claim GM paid back the loan...
what can be expected from the government except printing money.
But what’s destroying this country is the idiots who actually believe GM paid back the “loan”.
Thanks Para-Ord.45.
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