Lindsey Williams: America Will Default on It's 14+ Trillion Dollar Debt

reply to post by camaro68ss

There is nothing wrong with starting over and this is no MSM fear monger. This is month of independent research. you cant just defalt and walk away. the implacations are much larger then that. I dont think you understand the gravity of the situation

I think you guys are just paranoid.

What's the worst that could happen if we payback 30% and default on the rest? Like, Jefferson said: ``the question of reimbursement a question of generosity and not of right.``

Although this will be bad news for many people, I do believe it will be the correction that is much needed. At some point they had to throw in the towel and go into the next phase, which will be an unfortunate one (higher taxes, more war, more tyranny), but at least we can officially wipe the slate clean with project America and move to starting a new and even stronger America, one which is founded not on a piece of paper or a civil code but in a well informed public that can not be fooled by propaganda coming from the kings and queens of government.

Originally posted by Rockdisjoint
reply to post by camaro68ss

 

There is nothing wrong with starting over and this is no MSM fear monger. This is month of independent research. you cant just defalt and walk away. the implacations are much larger then that. I dont think you understand the gravity of the situation

I think you guys are just paranoid.

What's the worst that could happen if we payback 30% and default on the rest? Like, Jefferson said: ``the question of reimbursement a question of generosity and not of right.``

edit on 22-6-2011 by Rockdisjoint because: (no reason given)

Tensions rise on Capitol Hill as America runs out of money

By 2 August the US must raise the legal limit on its $14.3 trillion debt or face dire consequences, and Republicans and Democrats have been locked in battle on Capitol Hill. With the crunch deadline approaching, Obama hit out at Republicans last week, saying they favoured corporate jet owners over children and the elderly. Those high-flying fat cats got six mentions in a speech that set out the president's combative stance. "Before we ask our seniors to pay more for healthcare, before we cut our children's education, it's only fair to ask an oil company or a corporate jet owner that has done so well to give up that tax break that no other business enjoys," Obama said. The Republicans came back just as hard. Fired up by rightwing, Tea Party-backed newcomers, the Republicans now control the House of Representatives. House speaker John Boehner said Obama was "sorely mistaken" if he believed he could muster enough votes to raise the debt ceiling and raise taxes. "The votes simply aren't there, and they aren't going to be there," Boehner warned. So bad have things got that the politicos are working tomorrow, on 4 July, the Independence Day holiday.

my friend the only reason your ancestors that crawled out of those caves survived long enough to reproduce was because of paranoia. your complacence is unfounded and will ultimately be your downfall. the threat is very real and your country is screwed beyond your worst nightmares. America is dead you just havent got the memo yet. good luck to all the ones who prepared and to the people that laughed it off i hope you can feed your family on comedy

Default to whom? Their own central bank? What are they gonna do?

Originally posted by Cassius666
Default to whom? Their own central bank? What are they gonna do?

the fed isnt owned by the government. and im pretty sure the money comes from the IMF

The default can happen by means of the Fed/IMF taking action to lower the worth of the USDollar against other currencies. It's explained quite well by our friends at the Council for Foreign Relations (CFR) here:

Can Trade Motor U.S. Economy? - Council on Foreign Relations


[Read the last paragraphs by Clyde V. Prestowitz as I believe it fits exactly with what Lindsey Williams was saying on the Alex Jones show on Dec. 30th, 2011.]

The United States must produce more of what it consumes, and export more of what it produces. This will require action to prevent currency manipulation that overvalues the dollar, tax incentives for exporters, tax disincentives for consumption (a Value Added Tax for example), and strong financial incentives to attract investment in production of tradable goods and provision of tradable services to the United States.

Devaluation might end the dollar as the world's reserve currency, but in a long term window would stimulate the USA to be more competitive on exports and may create jobs that way without extra taxes or spending. The downside is that the USA standard of living would drop dramatically until the new economy arises from the ashes. Those in retirement or near it would never recover in all probability.

Obama has been good to the IMF and the Fed so I would expect that they would devalue the dollar on a weekend (say the weekend before the Fourth of July when most are distracted), so it would be early enough in his last term before re-election to complete what they need to do.