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Originally posted by Rigel Kent
I agree with the OP however a quick internet search will show you that the real US debt is 60 Trillion give or take, sorry to make your day even worse but it hasnt been as low as 11 Trillion since before Clinton came into office.
I saw a recent interview with him on British TV where he more or less admitted that it was more like 18 Trillion when he left. I am not a doom and gloom merchant but I really do think that the dollars days are numbered.
Just yesterday the Bank of England Guvnor told the Government that the vault was empty. Once the dollar collapses the DOW will follow and just watch the world dominoes. I hope I am wrong.
The only countries that will not be affected so badly are Africa, China and Asia
probably in that order too.
PEACE,
RK
Originally posted by DreamingsFree
I read somewhere today that China is mostly invested in US dollars, and I take that as a sign they can't arbitrarily blow us off right now.
Originally posted by cpdaman
i was posting the other nite about how human psychology and how it effects opinions is usually pretty underrated or poorly understood especially when people have the choice of
giving a depressing thought a chance of appearing legitamite...especially when should this be true...the person would appear helpless (in their opinion) to do anything.............OR just calling it nonsense (or whatever words first come to mind that they can string together that get the job done) of wisking them safely back to their comfort zone
now there are some that can accept this doom and gloom ...hell some ...crave it....but i think it makes some UNCOMFORTABLE...and to eliminate this unpleasent emotion (since they can) ....they believe whatever it takes to accomplish this ...........
Originally posted by amari
Originally posted by Rigel Kent
I agree with the OP however a quick internet search will show you that the real US debt is 60 Trillion give or take, sorry to make your day even worse but it hasnt been as low as 11 Trillion since before Clinton came into office.
I saw a recent interview with him on British TV where he more or less admitted that it was more like 18 Trillion when he left. I am not a doom and gloom merchant but I really do think that the dollars days are numbered.
Just yesterday the Bank of England Guvnor told the Government that the vault was empty. Once the dollar collapses the DOW will follow and just watch the world dominoes. I hope I am wrong.
The only countries that will not be affected so badly are Africa, China and Asia
probably in that order too.
PEACE,
RK
With the collapse of the dollar China will not set idle if their country loses half their wealth invested in The United States Of America. China is already being affected with millions of their citizens losing jobs because of the decline in the U.S. and worldwide economies.
U.S. seeks expanded power to seize firms
Goal is to limit risk to broader economy
Video
updated 3:10 a.m. ET, Tues., March. 24, 2009
WASHINGTON - The Obama administration is considering asking Congress to give the Treasury secretary unprecedented powers to initiate the seizure of non-bank financial companies, such as large insurers, investment firms and hedge funds, whose collapse would damage the broader economy, according to an administration document.
The government at present has the authority to seize only banks.
Giving the Treasury secretary authority over a broader range of companies would mark a significant shift from the existing model of financial regulation[...]
[color=gold]~source: MSM~