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By Webster G. Tarpley, Ph.D.
My fellow Americans:
I speak to you tonight in an hour of grave danger to our nation. As you know, within the next few hours our government is in danger of failing to make payments of interest and principal which the United States Treasury has contracted to make. In technical terms, we are not far away from beginning to default on payments associated with those US Treasury securities which represent the public debt of the United States. As part of the same crisis, there is now a threat to over 70 million checks which your government issues every month — payments which go to recipients of Social Security, to providers of health services under the Medicare program, to Medicaid beneficiaries, to our active-duty and retired military personnel, to our defense contractors, to our government employees — in short, to everyone who receives a benefit from the federal government, who works for the federal government, or who does business with the federal government.
Default Means National Bankruptcy and World Chaos
Originally posted by Ex
He won't be impeached , he will be hailed as
taking control of a terrror situation , by the right wingnut teabaggers
I think he needs to invoke it now!
If he doesn't.I will be shocked.
This man like it or not IS The president, duely elected
and represents
BOTH Republicans and Democrats in the end.
Originally posted by Ex
reply to post by e11888
Are you trying to reach Armageddon??
Do you really want to be part of the people that made the decision to collapse it all?
So throw Grandma under the bus, and don't look back.
I do understand that Government has gotten way way to large to maintain
but cutting the heart out of middle class, while making the rich , richer
just doesn't fly with me.
Example: THIS isn't right ! Big Money welfare Let's talk about them!
Exxon Mobil and Royal Dutch Shell on Thursday reported a surge in earnings,
helped by higher prices for oil, gasoline and other fuels.
Even BP, still paying for the Gulf oil spill,
made more than $5 billion in the quarter
We are having a debt-ceiling crisis because Congress has given the president contradictory commands; it has ordered the president to spend money, and it has forbidden him to borrow enough money to obey its orders.
Are there other ways for the president to raise money besides borrowing?
Sovereign governments such as the United States can print new money. However, there's a statutory limit to the amount of paper currency that can be in circulation at any one time.
Ironically, there's no similar limit on the amount of coinage. A little-known statute gives the secretary of the Treasury the authority to issue platinum coins in any denomination. So some commentators have suggested that the Treasury create two $1 trillion coins, deposit them in its account in the Federal Reserve and write checks on the proceeds.
Originally posted by Vikus
The Constitution also makes it illegal for a lot of other things that the government pulls off (unapproved Libyan war, Patriot Act, etc). I hate to say it but the Constitution is only conveniently followed as well as conveniently ignored.
Originally posted by tooo many pills
www.cnn.com...
We are having a debt-ceiling crisis because Congress has given the president contradictory commands; it has ordered the president to spend money, and it has forbidden him to borrow enough money to obey its orders.
Are there other ways for the president to raise money besides borrowing?
Sovereign governments such as the United States can print new money. However, there's a statutory limit to the amount of paper currency that can be in circulation at any one time.
Ironically, there's no similar limit on the amount of coinage. A little-known statute gives the secretary of the Treasury the authority to issue platinum coins in any denomination. So some commentators have suggested that the Treasury create two $1 trillion coins, deposit them in its account in the Federal Reserve and write checks on the proceeds.
Problem solved.
ROFL!
edit on 28-7-2011 by tooo many pills because: (no reason given)