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US Approaching Insolvency, Fix To Be 'Painful' - Fed Reserve Official Fisher

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posted on Mar, 22 2011 @ 04:48 PM
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The United States is on a fiscal path towards insolvency and policymakers are at a "tipping point," a Federal Reserve official said on Tuesday.

"If we continue down on the path on which the fiscal authorities put us, we will become insolvent, the question is when," Dallas Federal Reserve Bank President Richard Fisher said in a question and answer session after delivering a speech at the University of Frankfurt. "The short-term negotiations are very important, I look at this as a tipping point."

But he added he was confident in the Americans' ability to take the right decisions and said the country would avoid insolvency.

"I think we are at the beginning of the process and it's going to be very painful," he added.


www.cnbc.com...

Nothing really I want to add to this as it speaks for itself. Interesting that it comes from an official of the Fed Reserve. Though he remains hopeful that the US can turn away from running the course toward insolvency, he says very clearly it will be 'painful'. I will add this, probably far too painful for most Americans to willingly comply with.




posted on Mar, 22 2011 @ 04:55 PM
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We need to displace that pain onto the fed because they caused it. When people start getting hungry, thats when it will happen.



posted on Mar, 22 2011 @ 05:07 PM
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Originally posted by AnimositisominA
We need to displace that pain onto the fed because they caused it. When people start getting hungry, thats when it will happen.


Thing is, there's no need for anyone to be hungry.

With techniques in aquaponics, as well as the ability to use your land to grow food instead of grass, it's not difficult to keep ones self and family fed. It's just a matter of working for it.

Look at the family able to grow 6000 pounds of food a year on 1/10 of an acre in Pasadena...




Then, here's a vid on aquaponics and how it can help you suppliment or replace your food supply... This can even be done in apartments!




But... the key is, you have to work at these things, and that is something that I am afraid a lot of folks don't want to do :|



posted on Mar, 22 2011 @ 05:07 PM
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When the sovereign organization that prints U.S. its money starts saying these things i believe its
time for our government to audit them.

I dont know if its just me but im starting to get the feeling that they want to start an uprising here in
te states.



posted on Mar, 22 2011 @ 05:21 PM
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Avoid insolvency? Really? I didn't think there was anyone left, even among the ranks of our government, that were so ignorant as to believe that is actually a plausible scenario.

When 100% taxation on the income of the entire populace is insufficient to even pay the interest on the debt, there is no avoiding insolvency. The ol' "borrow today, print tomorrow" foundation of our current financial infrastructure is not sustainable indefinitely. Once our creditors require repayment of our debt using a financial instrument that we cannot simply print, we'll know what a real "economic downturn" feels like.

Think about it this way:

Let's say you (or I for that matter), took out a loan from a bank, then fired up your press and printed enough money to pay off the loan. What you have done, is now considered money laundering. This practice is a highly illegal means by which our worthless, counterfeit bills were exchanged for real currency of value.

The only difference between a private citizen laundering counterfeit bills and The Fed's day to day operational procedures, is that they've bestowed upon themselves the ability to skip the whole laundering step, by simply declaring the bills rolling off their presses as valid currency of value. The rest of the world accepts this, well because it's the US Government.

Sooner or later however, the world begins to place their own value on the dollar, rather than simply valuing it at what they've been told it's worth. Hyper-Inflation ensues, and the more we print, the worse it gets, until finally, we're required to pay our debt in Euros, or Yen, or Pounds Sterling, or sea shells for that matter. It's really irrelevant, the point is that the rest of the world isn't going to take dollars forever.

When the dollar loses it's position as the world's reserve currency, we're in deep, deep trouble.



posted on Mar, 22 2011 @ 05:27 PM
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reply to post by surrealist
 


I'm starting my own suburban farm this spring, already digging up the ground and fences and I got to say.. I'm excited about the outcome, but it is EXPENSIVE to start a big project like this.. more than I estimated anyways. I'm sure I could throw something together with entirely recycled material, but for the woman to bee on-board it also has to be aesthetically exceptional.


It also depends a lot on the climate.. where I live I am expecting 7 months of total growing time for various species, where I used to live it would be much shorter, and the guy in the video is all year round. I won't have time this year, but next year we do plan on taking some canning classes so hopefully that will lower dependency in the winter a little.



posted on Mar, 22 2011 @ 05:30 PM
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I love how you and I and our families are the ones who always suffer for the shenanigans of these oligarchs.

Makes me all warm and fuzzy.



posted on Mar, 22 2011 @ 05:33 PM
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so.....how much money is a jet fighter worth?? and, well...how many billions of dollars worth of missiles did we throw at libya today??
we ain't "approaching". we are racing to it!!
wonder what kind of trophy we will get if we win the race??

to put it another way......
don't expect me to accept the "pain" when it's the fools in charge that are busy day and night coming up with newer and better ways to create the problems, appearantly, believing that they are immune to the pain!



posted on Mar, 22 2011 @ 05:35 PM
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Whether or not America becomes insolvent is entirely up to the supranational banking cartel and the Federal Reserve Bank. It will be their doing, their decision, at the time of their choosing.

The 'painful' fix is probably the debt they will impose to keep them from decimating the population's remaining wealth... guaranteeing their supremacy over the subservient government for at least another century.



posted on Mar, 22 2011 @ 05:39 PM
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reply to post by Rockpuck
 


Beware of pollution and crap in the soil and air. Don't want your produce to soak it up.



posted on Mar, 22 2011 @ 06:10 PM
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Originally posted by dawnstar
so.....how much money is a jet fighter worth?? and, well...how many billions of dollars worth of missiles did we throw at libya today??
we ain't "approaching". we are racing to it!!
wonder what kind of trophy we will get if we win the race??

to put it another way......
don't expect me to accept the "pain" when it's the fools in charge that are busy day and night coming up with newer and better ways to create the problems, appearantly, believing that they are immune to the pain!



you cant just blame the military. if you took the military out of the picture we would still be in deficit. If you took out all spending in the USA besides Stoical security and Medicare you would still be in Deficit! Yes i belive we should not be fighting in other peoples wars but look at the big budget busters SS and Medicare!

These two items need to be fixed. am 24 years old and i know i will never see the money i put into these programs ever so give me the option to get out of them!



posted on Mar, 22 2011 @ 06:32 PM
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reply to post by camaro68ss
 


um...what about welfare, and medicaid???
which, well, if you do away with social security and medicare, is where many of the elderly will go to????
matter of fact, if our gov't wasn't taking care of all these "poor" people, and their kids, well, the ss fund would probably be in healthier shape! after all, there would have been less drain on the fed gov't budget (which well, they chose to meet the demand by raiding the ss fund...but there would more than likely be more people contributing to the fund, higher wages for us, and well, less money going to the upper echelons, thus no taxed by social security....
but well, that is beside the point....
when anyone comes on here complaining about their low wages, not being able to make it, ect...well, the first thing the conservatives do is start pointing at how everyone, even the poor has cell phones, computers, the internet, ect.....
only, many times the little money those things cost, wouldn't matter anyways, just like you are stating that the billions going to bank bailouts, or into the wars, and on and on, don't matter either!!
don't sit there and cry proverty to me, then act like you've go a million money trees growing in your yard!!

and by the way, where did I blame the military?? I have a kid, at least for a little while longer, in the military!! if the clowns in gov't want to send them to war, it should at least be something worthwile...not installing "democratic governments" into countries that don't seem to want them, and well, to be honest, I don't think it's really in the US best interest for them to get it, since the first thing the people will probably do, is install a far right religious leadership and sign away their democracy!



posted on Mar, 22 2011 @ 06:47 PM
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Originally posted by dawnstar
reply to post by camaro68ss
 


um...what about welfare, and medicaid???
which, well, if you do away with social security and medicare, is where many of the elderly will go to????
matter of fact, if our gov't wasn't taking care of all these "poor" people, and their kids, well, the ss fund would probably be in healthier shape! after all, there would have been less drain on the fed gov't budget (which well, they chose to meet the demand by raiding the ss fund...but there would more than likely be more people contributing to the fund, higher wages for us, and well, less money going to the upper echelons, thus no taxed by social security....
but well, that is beside the point....
when anyone comes on here complaining about their low wages, not being able to make it, ect...well, the first thing the conservative do is start pointing at how everyone, even the poor has cell phones, computers, the internet, esect.....
only, many times the little money those things cost, wouldn't matter anyways, just like you are stating that the billions going to bank bailouts, or into the wars, and on and on, don't matter either!!
don't sit there and cry proverty to me, then act like you've go a million money trees growing in your yard!!

and by the way, where did I blame the military?? I have a kid, at least for a little while longer, in the military!! if the clowns in gov't want to send them to war, it should at least be something worthwile...not installing "democratic governments" into countries that don't seem to want them, and well, to be honest, I don't think it's really in the US best interest for them to get it, since the first thing the people will probably do, is install a far right religious leadership and sign away their democracy!


HEY! your missing the point and your playing partys here! both partys are messed up, both partys will not cut the debt and both partys have failed! im done with the partys and being a ATSer i would think you would be above the whole party thing as well. Out of the 400+ memebers in the house i can only count a hand full that are fighting for our libery!

Im not a conservative, im a jacksonion, i think thats how you spell it? anyways spending is the problem. you cant cover everyone, you just cant! sooner or later the system is going to Collapse and its the sooner! so how ever way you look at it the "old people" and "needy" are screwed.

I know it feels good to help people and pay for the benifets but we just cant aford it anymore. the money is gone. and the way we save america is to get rid of the hand outs or we all fall with it. facts are facts.

because of are spending we have inslaved are kids to pay for our debts. its truly sad
there quality of life will be less then our own. is that something you can be proud of?
edit on 22-3-2011 by camaro68ss because: (no reason given)



posted on Mar, 22 2011 @ 07:26 PM
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lol....take the money that the old people and the needy are getting from the gov't, and it's gonna be more than the old and the needy hurting!!!
according to my congressional representatives, well over 50% of the revenue that is going into the medical providers in my area are coming from the govT...I mean, how else are people gonna be able to make regular visits to the doctor if the gov't isn't paying the tab? could you afford 100 dollar perscriptions? $20-$30 thousand dollar operations?
and well, in NY State, there are hud subsidized housing renting out for over $1000, or there was about a decade ago, how many of us workers could afford that kind of rent?
I can't! They have threw our economy so out of balance, it's addicted to all that money the gov't is throwing around! It won't survive without it!
so, well, what can I say, when the gov't admits that it has to quit it's spending spree and starts acting like they are living on the same planet as the rest...I'll reconsider my position on social security and medicaid. what can I say, I've worked, I've paid taxes, for close to 40 years.....and, I have watched my neighbors, sit on their arses, draw their benefits, eat their shrimp, heat houses with all the windows open in the middle of winter, run their kids to the doctor's every time their was a hint of sickness....
and well, basically have a better standard of living than my family...
I am not gonna be dropping dead at the age of 90 at work, knowing that I am sick, and not being able to do anything about it because I have to work, and yet....still can't afford the danged doctors!!!
there's too many forests, too many mountains that I can get lost in, and well....more than likely, that will happen before I reach retirement age! the political parties are just two sides of the same coin, you ain't gonna get on side to go into one direction, while the other goes in another, and the same with the parties. their ultimate goal has always been the same....
socialism and authoritarianism. but, I am getting sick and tired of the right's talking heads....
oh, we got to cut the budget...
nooo, you can't raise OUR taxes.....
and ohhhh.....let's not forget to throw around a few thousand or so missiles....
and then they turn around and...
oh ya, we are willing to pay the price!!
really? are their kids in the service?
are they parking their cars for the lack of gas? heck, I'd be happy if they'd just park their private jets!
have they ever, in their lives, 'gone a year eating every other day, because the food wasn't' there, nor the money??
they ain't gonna pay squat!! their banker friends will make sure they are taken care of....
while we pay our mortgages three times over...



posted on Mar, 22 2011 @ 07:49 PM
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The Dallas Fed Chief is right: it IS going to be painful.
The actual problem is than in an economy-centric society there is no such thing as equilibrium.
Unless the entire system known as "the economy" is deconstructed and replaced by an altogether different notion, there will be no opportunity for or possibility of success.
"The Forecast Calls for Pain"!

ganjoa



posted on Mar, 22 2011 @ 11:50 PM
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More conversation HERE

Lets merge this conversation, please transfer all links over too



posted on Mar, 23 2011 @ 04:29 AM
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America has been insolvent since 1933 that's how we got all these paper debt notes people call money and have been living on false credit expansion ever since. Everyone know you can only charge up a credit card for so long without paying the bills. The creditor cancels the card. get your food and water storage and preparedness stuff squared away. You can only inflate and deflate a balloon so many times before it loses its elasticity an pops.


edit on 23-3-2011 by hawkiye because: (no reason given)



posted on Mar, 23 2011 @ 04:38 AM
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gonna have to invade canada
they gotts a stable currency and they got oil
oh
to far away
ok, lets get lybia then

you have a whole system based on fraud
period
england went for over 5 hundred years till the rothschilds stole the country
without one single financiall colapse using TALLEY STICKS
a non debt based currency system...
which is why the bankers funded Napolean to wipe out the workable systems and replace them with
DEBT money systems
then they used Britian to instal this system with might of "EMPIRE" through out the world

as they now use their shiny ( ha, I accidentally wrote skinny stead of shiny) new slaves

enjoy




edit on 23-3-2011 by Danbones because: (no reason given)

edit on 23-3-2011 by Danbones because: (no reason given)



posted on Mar, 23 2011 @ 12:30 PM
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I'm telling you all... Now is the time to spread my ideas. We DO have a solution - but it requires the spread of the ideas.

The End of Entropy thread is the foundational piece (read first), and The Ethical Planetarian Party Platform is the structural piece. Both are linked in my sig.



posted on Mar, 23 2011 @ 12:32 PM
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Originally posted by Jomina

Look at the family able to grow 6000 pounds of food a year on 1/10 of an acre in Pasadena...


And somebody told me that 1/4 acre could not support a Human for a year.

Heh.



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