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United States "dangerously close" to defaulting on its debt. Thoughts/Opinions?

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posted on Jan, 5 2011 @ 05:16 PM
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I just heard on my local news that the United States is “dangerously close” to defaulting on its national debt. I am uneducated on this subject and in the dark on to what this really would mean and the repercussions that would entail. Could I get some quick education and a few opinions from some of you?

(I looked for posts but didn't really see what I was looking for.)




posted on Jan, 5 2011 @ 05:22 PM
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well the president is more than likely purposely destroying the US dollar



posted on Jan, 5 2011 @ 05:24 PM
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Originally posted by ohiotim2112
I just heard on my local news that the United States is “dangerously close” to defaulting on its national debt. I am uneducated on this subject and in the dark on to what this really would mean and the repercussions that would entail. Could I get some quick education and a few opinions from some of you?

(I looked for posts but didn't really see what I was looking for.)


I believe it is probable as united states has borrowed more money then we tax payers can give back. In all the money magazine, like forbes, they know we are in deeper then we are capable of digging out. And what is worse the new senate and house will take everything away from the poor, i.e medicare, social security, and keep taking their earmarks, both sides steal from the common american citizen, the differnece is which ever party has the majority reaps the higher rewards.



posted on Jan, 5 2011 @ 05:24 PM
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Originally posted by religiousmurder
well the president is more than likely purposely destroying the US dollar

\
The president is? Goes a bit deeper than that, my friend.



posted on Jan, 5 2011 @ 05:30 PM
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From what I understand the U.S. government is about to approach the legal limit of money it can borrow. I'm just speculating here but I would imagine that if the government cannot borrow money to run itself it will default on its debt. If the U.S. defaults I would think most countries in the world would drop the dollar, making it lose its status as the worlds reserve currency. Once that happens and oil is no longer priced in dollars gas will skyrocket over here practically overnight. Then of course everything will go haywire because of the extensive transportation network we have here that needs lots and lots of gas to keep running. Maybe I'm wrong in my thinking but this seems the likliest scenario to me. Especially since I saw on the news last night some Government guy who was very adamant that the U.S. would not default on its debt. When they say things like that, expect the opposite. Thats why they let a black man be president here I think, so he'll be the one to take the fall. That way the black dude messed this country up.This is what the elite has planned I do believe, but it probably deserves another thread for discussion.



posted on Jan, 5 2011 @ 05:30 PM
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I think that a big "event" will happen to make the debt disappear or not matter anymore. There is no possible way to pay it all back. The only problem is, what event is big enough to make trillions and trillions of dollars not matter anymore? The national debt is the biggst lie to us americans.



posted on Jan, 5 2011 @ 05:31 PM
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Yes Tim we are ... that is why the FEd is trying to pump up the economy. It is very complicated yet simple ... I know sounds confusing. Look up fractional banking ..

go to www.usawatchdog.com There Greg Hunter lays it all out. If you are really interested how bad or more acurately crooked the banksters are ...... check out his articles and give them a read ....



posted on Jan, 5 2011 @ 05:31 PM
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the answers you seek are in the archive!

i hope you realise the recession we're in has been completely orchestrated for this reason. and others. mainly greed.

have a read of this- www.globalresearch.ca...

hope this isnotall too much of a shock for you.

the trick is.. there is No fear, if there is, it needs to be replaced with Love!
edit on 5/1/11 by WHOS READY because: (no reason given)



posted on Jan, 5 2011 @ 05:31 PM
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reply to post by ghostsoldier78
 


True, until we whip out the big guns and take it.



posted on Jan, 5 2011 @ 05:32 PM
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At this point this ceiling is imaginary anyway isnt it? The ceiling is imaginary, the paper is imaginary the value we all place on it is imaginary.

Let the ceiling be hit. I want to see what these imaginary consequences will be.


 
Posted Via ATS Mobile: m.abovetopsecret.com
 



posted on Jan, 5 2011 @ 05:33 PM
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I am sure they'll raise the cap to avoid default, besides what is a few extra trillions between friends


I honestly don't think they have left themselves any other option than follow the keep printing/raising the limit for yet another last roll of the dice.

Tho I can not help but wonder how many more "last throws of the dice" these guys will get away with!



posted on Jan, 5 2011 @ 05:36 PM
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isn't defaulting on your debt synonymous with bankruptcy?

Definition:
Bankruptcy -- The condition of a legal entity that does not have the financial means to pay their incurred debts as they come due.

Maybe they were trying not to cause panic, but that's what that headline sounds like....'U.S. is dangerously close to bankruptcy"???



posted on Jan, 5 2011 @ 05:36 PM
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Bound to happen eventually, I think.

Every dollar in existence is borrowed. That means every dollar in your pocket, in your wallet, in your piggy bank or stuffed under your mattress is a debt we owe, plus interest. So the amount we owe is more than even exists.

Think about that. How could we ever pay back more money than there is? It's mathematically impossible. Only question is, how long can the charade go on?



posted on Jan, 5 2011 @ 05:38 PM
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Originally posted by arrus75
isn't defaulting on your debt synonymous with bankruptcy?

Definition:
Bankruptcy -- The condition of a legal entity that does not have the financial means to pay their incurred debts as they come due.

Maybe they were trying not to cause panic, but that's what that headline sounds like....'U.S. is dangerously close to bankruptcy"???


They are already bankrupt. There is no paying back anymore. They can only go on because the whole World needs the Dollar...but i dont think everyone is going to play along much longer.
edit on 5-1-2011 by Shenon because: (no reason given)



posted on Jan, 5 2011 @ 05:42 PM
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The US spent more than it made. The GDP is so overwhelming, its actually staggering. Not to mention the Fed's pumping worthless dollars into the system, only brings down the value. Not to mention, out side powers are doing there darndest to also bring the value of the dollar down.

There is no possible way for the US to repay its debt to foreign powers. And this " big event " by no means is going to allow the US to walk away unscathed. Those who lent money,...they're gonna want it back.

Less we forget, all mighty wise, ( and incredibly hideous ) Hillary Clinton, went to china, how do you think she got them to keep from sending 3 trillion in US funds from being back into the system? Mortgages!!!! Many people don't realize, but many of American mortgages were put up for collateral.

The " big event ' everyone keeps taking about.....is the death of the US.



posted on Jan, 5 2011 @ 05:46 PM
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Originally posted by Whereweheaded
The US spent more than it made. The GDP is so overwhelming, its actually staggering. Not to mention the Fed's pumping worthless dollars into the system, only brings down the value. Not to mention, out side powers are doing there darndest to also bring the value of the dollar down.

There is no possible way for the US to repay its debt to foreign powers. And this " big event " by no means is going to allow the US to walk away unscathed. Those who lent money,...they're gonna want it back.

Less we forget, all mighty wise, ( and incredibly hideous ) Hillary Clinton, went to china, how do you think she got them to keep from sending 3 trillion in US funds from being back into the system? Mortgages!!!! Many people don't realize, but many of American mortgages were put up for collateral.

The " big event ' everyone keeps taking about.....is the death of the US.




...and when that happens,those Madman in the Govt. are going to bring the Rest of the world down with them...
edit on 5-1-2011 by Shenon because: (no reason given)



posted on Jan, 5 2011 @ 05:51 PM
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reply to post by ohiotim2112
 


Obama and company are collapsing the economy and that is why he is piling on the debt with the Fed passing out trillions to foreign bankster buddies. Why are they doing that? For the New World Order. When they collapse our currency they will try to introduce a global currency and economic power structure.

We need to check mate the plan by making a new gold based National currency and axing the Fed.



posted on Jan, 5 2011 @ 05:51 PM
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reply to post by Shenon
 


Not necessarily true. According to this article, there is already a currency in the works, maybe even ready to be implemented.


Following the 2009 G20 summit, plans were announced for implementing the creation of a new global currency to replace the US dollar’s role as the world reserve currency. Point 19 of the communiqué released by the G20 at the end of the Summit stated, “We have agreed to support a general SDR allocation which will inject $250bn (£170bn) into the world economy and increase global liquidity.” SDRs, or Special Drawing Rights, are “a synthetic paper currency issued by the International Monetary Fund.” As the Telegraph reported, “the G20 leaders have activated the IMF's power to create money and begin global "quantitative easing". In doing so, they are putting a de facto world currency into play. It is outside the control of any sovereign body.



By doing this, they are able to basically establish this new currency, and those who jump on the wagon train decide the fate of their country. Of course the US will attempt to stand firm to the belief that the USD stills has value, but once the big players of the globe drop the recognition of the USD, that's a wrap boys!



posted on Jan, 5 2011 @ 05:54 PM
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reply to post by Whereweheaded
 


I do not agree with your statement. Do you really think that we spend all of our borrowed money on a military that we will not use? I think that there will be mass U.S. casualties, but lets not forget that we have the most and biggest guns. We will not hand them over land, or anthing for debt collateral to China. This is why China is still lending, they know that as a country we will not give our land to the enemy. They will have to come take it by force and that will not happen.
edit on 5-1-2011 by liejunkie01 because: (no reason given)



posted on Jan, 5 2011 @ 06:03 PM
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reply to post by liejunkie01
 


Simma down child...

I at no time suggested that China would come over here with force and take our land. They're not that stupid. I simply made the point that those whom lent money are going to want those funds back. One way or the other, debt repayment will have to established.



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