Posted on 04/19/2024 9:08:59 PM PDT by HogsBreath
In 1797, a year after revolutionary France abolished paper money following a disastrous inflationary experiment, U.S. President John Adams delivered a warning on government debt.
“The consequences arising from the continual accumulation of public debts in other countries ought to admonish us to be careful to prevent their growth in our own,” Adams told Congress.
(Excerpt) Read more at washingtonexaminer.com ...
If I recall, maybe 20 or more years ago, the Mexican economy collapsed. The Greek economy was in serious trouble a couple years ago. Both countries are still around. What did they do? What will we do?
Yep
The USA did it to the Soviets.
Today, our Bolsheviks are doing it to the USA.
They are basically looting the Treasury at this point and not making any attempt to cut spending. So it’s pretty much inevitable that things are gonna crash at some point. There’s not much we can do now to turn things around so prepare for the worst.
The Dodd act of our last meltdown established “ Bail-ins”. The opposite of Bail outs.
Bail Ins have already been used in the EU and other countries. A Bail In states a depositors money deposited in a bank belongs to the bank as “ Primary” account holder. Reasoning: The Rule treats your cash like an investment, you gave it to the bank and they invest it.
The way it has been done in the past is on declared insolvency, the account holder is given stock in the bank equal to his deposits, which he can not sell for three years.
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“Bank Bail-In vs. Bank Bailout
Bail-ins and bailouts are designed to prevent the complete collapse of a failing bank. The difference between the two lies primarily in who bears the financial burden of rescuing the bank.
In a bailout, the government injects capital into banks, enabling them to continue their operations. During the financial crisis of 2007-2008, the government injected $700 billion into companies like Bank of America (BAC), Citigroup (C), and American International Group (AIG) using taxpayer dollars.
2
Bail-ins provide immediate relief when banks use money from their unsecured creditors, including depositors and bondholders, to restructure their capital. Banks can convert their debt into equity to increase their capital requirements. Banks can only use deposits over the $250,000 protection provided by the Federal Deposit Insurance Corporation (FDIC)…*Since the principal objective of the provision is to protect American taxpayers, banks that are too big to fail will no longer be bailed out by taxpayer dollars. Instead, they will be bailed in.”
I will add the recent Bail Out ( SNB California failed bank) the Dodd Bail In provision was WAIVED, illegally. More than a few Congressmen brought this issue up, but were overridden by Democrats.
That said, the FDIC “ insurance” account only has a FRACTION of money held in reserve to cover trillions in deposits. In the event of widespread bank closures all accounts WILL be subjected to the Dodd Rule.
It pays to be informed- when I ask people what a Bail In is, ALL have no idea what so ever.
Best to read the link I posted, much disturbing information is found.
It’s THE PLAN
Nothing of this magnitude and long duration is unintentional
The article notes that globally demand for US government debt is dropping, helping drive the rates higher and accelerating growth of the debt. Who wants to be the bagholder when the government starts defaulting on its debts? More to the point, who wants to support this government by funding it? There are plenty of other, less anti-American ways to invest your money.
U.S. presidents net worth before and after office Dec 12, 2023:
Ronald Reagan: $10.6M ➡️ $15.4M
George H.W. Bush: $4M ➡️ $23M
Bill Clinton: $1.3M ➡️ $241.5M
George W. Bush: $20M ➡️ $40M
Barack Obama: $1.3M ➡️ $70M
Donald Trump: $3.7B ➡️ $2.5B
National debt currently informs why Hitler had to raid all the gold in other countries to keep his agenda alive.
The French ‘experiment’ is of interest. I recall this as the Mississippi bubble ?
Depts ALWAYS come due.
Most democrats became millionaires withing 6 years of being elected to Congress. Odd how that happens.
I saw the numbers years ago but the butt kissers in the press are tight with information that might hurt their favorites. You know the ‘you scratch my back, and I’ll scratch yours’... So nice to have an owed press.
Obama’s wealth increased over 5,000% while he was POTUS. As of last December, Trump’s wealth decreased 32%. That was before the NY gov theft via Engoron.
And it’s fueling inflation...which will get worse — this dept is NOT sustainable...
Still the goons, thugs and idiots in the Biden Administration feel we have the money to spread our grandiosity around the world - helping here, helping there, supporting Ukraine when we can’t defend our own borders.
It’s nuts.Yes, we can support Israel - the ONLY democracy in the Middle East - but to give our treasure to Ukraine - a corrupt totalitarian hellhole? That’s nuts.
Let the damn US ‘elites’ find other third world countries to ‘hire’ their drug addiced whore monger sons. We can’t afford it any longer.
You're right - Trump had it all - and put all his life work and treasure at risk to serve his country.
Trump even donated his salary to charity the whole time he was President.
But the rest of 'em? The DC "elites" - they've been milking the system for years. And the corrupt press looks away - pretends not to notice. Sad days for our country.
Hard to even understand all the moving targets. Inflation, legal costs, fines.
(Sad days for our country)
The Godless Globalists are going to get their Antichrist.
Nationalization of IRAs?
Yes. The government will be on these quickly in a crisis.
Bank holidays and bank closings?
Happened before, will happen again.
You forgot confiscation of privately held gold and silver, resist this with your dying breath.
Yes, sad days. Insane choices...
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