US debt default 'by end of month'?
 

Will this merrygoround ever end?

http://www.bbc.co.uk/news/world-us-canada-26021640

It's not hostage-taking when everyone can see you don't have a gun.

It seems that it is only an issue when there is a Democrat as POTUS.

It's not always a great idea to read someone with whom you agree completely, but over the years I've liked Jonathan Chaits writing on this.

http://nymag.com/daily/intelligencer...reat-ever.html

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Enigma M4; plugboard QW,ER,TY; reflector C; rotor settings GAMMA 01-J, I 10-J, III 9-I, II 21-U; ring SUBZ.

Yes I am bored

gg, nextmap

There is more chance jim running stark naked though Manchester than America defaulting.

As long as politicians are allowed to have their hands on the money printer, it all will constantly become worse, because more delaying time can only be had at the cost of getting an even greater burst at the end. and that end will come one day. Delaying is not avoiding. Until then politicians, to save their skins, will do any lie and dirty trick and manipoulation and damage and crime they can in order to push the pay day beyond the end of their career time.

Politicians allowed to print money/introduce paper money/found central banks, are the killing knife stab in the back of any idea about a functional society, big or small. Keep politicians and money separate, at all cost. Shoot every politician trying to gain control of the money. Because if you let him get away with it, he destroys the fundaments of civilised society.

Every playing child counting its candies knows that it cannot consume itself rich, but can only become rich by saving them. Economic investments done on the basis of credits, are not producing wealth that could last, but they build illusions of "being rich". Only investments of previous savings can achieve lasting wealth that grows in the long run. Any other claim - is a cheat, a trick, a lie. Yes you can blow up m,onumental illusions and deceptive facades: and end up with Facxebook producing nothign, but nevertheless beeing hoeplessly overrated a thousand times. Imagine a world where the curerency would not be meaningless leaves of paper, but gold or silver: and Facebook would just be a minor company of very limited monetarian value. When judgement day comes and debt and paper currencies of today collapse, all those incredibly clever people holding shares of companies like this, will experience a very hard and brutal wake-up to reality. They will own shares of a company that produces nothing of value. And a share of nothing is - nothing.

That was illustrated and proven by wise minds already 50, 60, 70 years ago. The reaction of politicians: total ignorance of the unwelcomed news, and a total turning towards Keynes instead, the high priest of illusions supporting the dream of an everlasting party.

But last time I passed the kitchen door, the smell from undone washing-up and rotting mold already threw me to the floor and almost killed me.

Keynes, no matter how irresponsible and narcissistic he was, knew very well that his theory - if one dares to call this loose collection of confused ideas and absurd imaginations a theory: I do not, for sure - could not work. His reply to the question of how it all will end in his system, became legendary: "In the end we're all dead." And it were no biologic facts he referred to.

Pay no attention to the man behind the curtain.

The great and powerful Oz has spoken.

Huh? The year barely started! Shouldn't budgets last longer?

When you can print worthless money at will, no need for a default...not to be compared to collapse which will certainly eventually happen.

Print paper money today.

Tomorrow we go boom.

We get the same old BS here...Is this world wide? :hmmm:

I certainly refuse to be paid in paper money.

Everyone knows it's worthless.

I'm so clever.

Gold and diamonds for me if you'd be so kind :smug:

Am I the only one who thinks the only way this crap will be fixed is by letting it collapse under the strain of its own gluttony?


The American politician is under the misconception that taxpayer money is free and infinite, and they rigged the system to keep us powerless, don't give me your crap about voting, you are just calling heads or tails on a quarter when you vote,....But it is still a quarter, and the entire quarter is warped. We got a rusty hunk of metal. What side of it looks shinier?

I for one welcome a Syria/Libya like thing here, despite the fact uncle sam would strafe protestors with planes just like Assad/Khadafi did, or even better use the media to discredit them, like the Occupy or tea party movements.

Yup, the US government is well known for its propensity to machine-gun protesters.


Sure it doesn't even make the news anymore, due to it being so common.

Spending beyond ability has also a lot to do with keeping the asses of the voters cozy becouse god forbid if they don't or do lol.

Pander to the masses!

Damn the torpedoes! Full speed ahead!

Worked for Admiral Farragut, but such tactics in economy is wreckless and irresponsible.

I am a tax and spend Liberal, and I find what is going on gross and revolting. That says alot.

You clever guy should meditate a moment about what this idea of a "fractional reserve system" really means, and what it means related to the constant increase of the amount of money in circulation, and the constant devaluation of said money.

But maybe you will not accept to see that until the day the banks remain closed or the zeroes on your banknotes count by the dozens. Maybe then you will refuse to be payed in paper money.

If your worldview can stand that disillusionment then, of course.

LINK: Fractional Reserve Banking

Money created from credit only, that has no real-value representation, is worthless money. People today are under a spell and so think they are rich when owning paper money. That illusion only last until the first player at the table looses his trust and wants to see the cards.

All banks are bankrupt right now. All states are as well. The king is naked. That simple it is.