Now "statistically impossible for the United States to pay its obligations"

Interesting take on things by Stewart Dougherty, a specialist in inferential analysis.

Full article:
www.silverbearcafe.com...
Exerpt:

To those who study the numbers, it is now obvious that America’s fiscal situation is hopeless. Given the country’s current debt and unfunded liabilities of $75,000,000,000,000, an amount growing by at least $5,000,000,000,000 per year, it will be statistically impossible for the United States to pay its obligations unless it repudiates them in large measure, or the dollar is sacrificed on the altar of searing, society-altering inflation.

Congress and much of the nation are in utter denial about the country’s unfolding fiscal catastrophe, as evidenced by federal spending that is actually accelerating, producing all-time debt and deficit records that exceed anything ever experienced by any nation on earth, at any time in history.

Denial is a psychotropic, mind-altering drug that by comparison makes crack coc aine look like health food, and addiction to it shuts down the brain. America’s denial about its out-of-control spending, non-repayable debt, financial sector fraud and deceit, decadent political institutions, epic dereliction of leadership duty, fiscal and monetary immorality, and disastrously dishonest system of cronyism is leading the nation into an economic nuclear winter of desolation and chaos. Aside from Ron Paul, there is not one politician telling the people the truth about their oncoming debt enslavement and impoverishment; nor is there even one sign of constructive fiscal change on the horizon. Our visionless, gutless and greed-stricken leaders have transformed the United States into a cowardly new world.

More at source:
www.silverbearcafe.com...

...stewart is right - its not possible under the insanity that dubya/cheney dug us into and obama is continuing but that doesnt mean its not possible if we had sane leaders...

...sane leaders - cant remember the last time we had that - maybe we never did...

reply to post by silent thunder


Just sell debt to pay debt, or buy your own debt to pay debt. Either would happen before a default, and both are indirect taxes on Americans. Inflation here we come!

As a former Treasury official, I am amazed that the US government, in the midst of the worst financial crises ever, is content for short-selling to drive down the asset prices that the government is trying to support....The bald fact is that the combination of ignorance, negligence, and ideology that permitted the crisis to happen still prevails and is blocking any remedy. Either the people in power in Washington and the financial community are total dimwits or they are manipulating an opportunity to redistribute wealth from taxpayers, equity owners and pension funds to the financial sector. Paul Craig Roberts was Assistant Secretary of the Treasury www.countercurrents.org...

The people in power are not dimwits, this was exactly what was wanted. Gradual changes in the banking laws and the formation of the WTO allowed the Federal Reserve and international Corporations to deliberately bankrupt the USA. It means the USA will have to apply for a World Bank/IMF loan just like Iceland.


The Fed is a very important member of the Bank for International Settlements

With regard to the evolution of central banks, the following were founded long before the Federal Reserve: Bank of Sweden, the oldest , in 1668; the Bank of England in 1694; the Bank of France in 1803; the Bank of Italy in 1861; the German Bundesbank in 1870; the Bank of Japan in 1882; and the Bank of Canada in the 1930s....

Until recently, the name Bank for International Settlements (BIS) seldom made the newspapers. Operating in great obscurity in Basel, Switzerland, this institution wields even greater power than the Federal Reserve as it is considered the "central banks' bank." The BIS, operating on the global level, coordinates with the "local central bank" in each country, the material changes in domestic law necessary to bring the world monetary system into harmony or one. Over the years, it has, like the Federal Reserve, amassed greater and greater control over more aspects of the global monetary system.

"...the powers of financial capitalism had another far- reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole....

The apex of the system was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the worlds' central banks which were themselves private corporations. Each central bank in the hands of men like Montagu Norman of The Bank of England, Benjamin Strong of the New York Federal Reserve Bank, Charles Rist of the Bank of France, and Hjalmar Schacht of the Reichsbanks (Bundesbank-Germany) sought to dominate its government
www.freedom.org...

What will a World Bank Loan mean to those of us in the USA??

Structural Adjustment Policies are economic policies which countries must follow in order to qualify for new World Bank and International Monetary Fund (IMF) loans and help them make debt repayments on the older debts owed to commercial banks, governments and the World Bank. Although SAPs are designed for individual countries but have common guiding principles and features....

SAPs often result in deep cuts in programmes like education, health and social care, and the removal of subsidies designed to control the price of basics such as food and milk. So SAPs hurt the poor most, because they depend heavily on these services and subsidies.

By devaluing the currency and simultaneously removing price controls, the immediate effect of a SAP is generally to hike prices up three or four times, increasing poverty to such an extent that riots are a frequent result.

In the dozens of countries where the International Monetary Fund (IMF) and World Bank have imposed structural adjustment programs (SAPs), the people who have seen deterioration in their standards of living, reduced access to public services, devastated environments, and plummeting employment prospects www.whirledbank.org...

This was written in the late eighties (1988) and shows who the arranged for the current mess to take place. Clinton ratifying the World Trade Agreement in 1995 was the final nail in the USA coffin, May she rest in peace.

....Finally, he returns to Paul Volcker [Federal Reserve Chairman] and shows how almost singlehandedly he not only effected a redistribution of American wealth but also did so in a way that was diametrically opposed to the Populist dream.

...The panoramic sweep of Mr. Greider's prose is not conducive to brevity. So his book is perhaps somewhat longer than it need have been. But many of the points he makes bear repeating, particularly those having to do with why the end of inflation in the 1980's served to redistribute the nation's wealth and concentrate it counterproductively, or why the high interest rates that followed may have had little to do with the size of the Federal budget deficit, or why world economic conditions today bear a disturbing resemblance to those in the 1920's. www.nytimes.com...

It sounds Like Strong and his buddies decided to carry out Strong's fantasy, but it is to enrich their pockets and implement a"Global Governance" not to save the environment. Strong served on the Commission on Global Governance -- which plays a crucial part in the international power grab.  The Commission on Global Governance was established in 1992. Two years after Strong told a reporter his fantasy.

In 1990, Strong told a reporter a fantasy scenario for the World Economic Forum meeting in Davos, Switzerland - where 1,000 diplomats, CEOs and politicians gather "to address global issues."

Strong, naturally, is on the board of the World Economic Forum. "What if a small group of these world leaders were to conclude the principal risk to the earth comes from the actions of the rich countries?...

In order to save the planet, the group decides: Isn't the only hope for the planet that the industrialized civilizations collapse? Isn't it our responsibility to bring this about?" "This group of world leaders forms a secret society to bring about an economic collapse," www.taxtyranny.ca...

It looks like Obama is part of Strong's group of buddies, after all he appointed the architect of the mess we are in to "help" fix it. No wonder we are now past help. Unfortunately the left wing is so busy implementing their version of Utopia at the tax payers expense they can't see the well is completely dry!

Former Federal Reserve Chairman Paul Volcker will chair a new economic advisory panel created by President-elect Barack Obama and designed to stabilize financial markets, the Wall Street Journal reported on Wednesday. www.huffingtonpost.com...

There's lies, damned lies and then there is statistics!
Statistics anc be manuplated to fit the data!

www.cutestdogcompetition.com... E7F4BB320779A5FEADB28&page=1

reply to post by crimvelvet


Exactly.......what's happening is exactly what the powers that be........i.e. the international bankers who pull the strings of modern society want. They've wanted for a long time to break the back of the American middle class and turn America into a debtor nation like everyone else. Everything happens for a reason nowadays...........and this financial crisis is no different.

Well does this mean our goose is cooked. China is eyeing Alaska to settle up ? Or are they gonna create another war to fix it. What a mess the bankers have put our country in. May have to buy a metal dector and find my own gold.

News Flash

They not going to: The Federal Reserve (which is not a Government department) willl file for "Chapter 11" and sorry we broke. Oh! By the way the Fededal reserve own you the money.

Then we change the currency to the Amero.! and live happy ever after.

reply to post by Grayelf2009

Well does this mean our goose is cooked. China is eyeing Alaska to settle up ?

No the Chinese are just buying our land and homes. Hope you can speak Chinese..... and you thought all those Latinos and having to speak Spanish was bad.
(I am so bad at languages I trip over my own tongue, given my problem learning Spanish, I do NOT want to even think of learning Chinese!)

At the end of February, 40 wealthy Chinese embarked on a housing tour of the US. The trip, run by Soufun Holdings, one of China's largest real estate companies, kicked off in Boston and continued on to San Francisco, Los Angeles and New York. For a fee of US$3,600 apiece, tour group members perused homes in the US$500,000 to US$1 million range.

The trip was so popular that Soufun had to turn away 400 applicants..... www.businessweek.com...

So TPTB have sold us and our children's children down the river.

One option is to refuse to pay up. If they want our wealth, make them come get it.

You have to be willing to stand up for you and your brothers.

IMO the Banksters, Wall Street & our "Representatives" in Washington should be held personally responsible for this massive debt they've put "We The People" into. We didn't ask for all this crap therefore we were not represented therefore we are not "responsible". THEY are.

U.S. economy collapses
World economy collapses
Bank of the World is created (consisting of aggregate Central Banks)
Global currency created
U.S. is bailed out by Bank of the World
U.S. pledges the aggregate assets of America and of all Americans to
Bank of the World
World slavery to Bank of the World

The headline of this thread is alarmingly close to the trigger phrase that, when heard, would send me into full-on Condition Red.

"The United States is in imminent danger of default."

Interesting times, indeed.


Posted Via ATS Mobile: m.abovetopsecret.com

Originally posted by cnichols
IMO the Banksters, Wall Street & our "Representatives" in Washington should be held personally responsible for this massive debt they've put "We The People" into. We didn't ask for all this crap therefore we were not represented therefore we are not "responsible". THEY are.

I quite agree. Where is our entire legal branch in all of this? Why is the supreme court so strangely silent on all these matters and breaches of laws? The US supposedly has 50% of the lawyers in the word. Many of them must be out of work these days, or close to it. Why don't, say, 500 lawyers get together and put together a massive class-action suit against Congress or Wall Street for letting us happen?

Lawyers have a poor image in society. Instead of chasing ambulences, why don't they start chasing banksters? With all the laws that they have broken in recent years, it should be like shooting fish in a barrel.

I'd like to see this happpen, followed by the sight of a few hundered banksters in orange jumpsuits and clanking steel ankle chains. Where is the whole US legal system now that we need them most and they finally have a chance to do some real good?