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Terrifying Rate at Which U.S. Debt Is Accumulating ‘Will Lead to National Ruin’

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posted on Mar, 15 2012 @ 04:07 AM
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reply to post by xuenchen
 


Is there enough currency in circulation for each person to pay off their fair share of the national debt?

Nope.

Is it legal for me to print off more currency and make "counterfiet" money?

Nope.

Sorry, but legally it's just not my problem.




posted on Mar, 15 2012 @ 04:21 AM
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No it wont because debt is just a number of the pieces of toilet paper you owe. It has no value to me. It is fake paper. Simple don't pay anything, what they gonna do? Not give you a home loan to get you in more debt?



posted on Mar, 16 2012 @ 07:47 PM
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reply to post by xuenchen
 



Originally posted by xuenchen
So, perhaps this is just business as usual ?

And the debt will be paid for by printed money from new loans (bond issues) as needed.
(assuming the debt can be continuously sold to new buyers week by week, month by month, etc.)
 


Does this long time low interest rates indicate a:

"the longer the water boils, the higher the lid blows" scenario.
(as in: inflation will quickly skyrocket eventually ?)


I really wish I knew the answer. I know they want to carry on as business as usual for as long as they can to keep their status quo. But I seriously can't imagine how we will be talking about this in 8 years when our total national debt is nearing $25 trillion dollars (assuming we continue pushing a trillion dollar deficit every year), and the FED has finally raised interest rates.

I keep thinking they must have something up their sleeve to raise our total revenue to balance the budget, or even save money to pay it down, because they are obviously against cutting spending to balance the budget. But I have no idea how because they won't raise taxes that drastically or we would revolt, or at least I hope we would. Maybe, the U.S. has some new revolutionary invention that will create an entire new industry and the technology will be so closely guarded and advanced that the rest of the world will have to buy and borrow from us and only us to acquire it?

edit on 16-3-2012 by tooo many pills because: (no reason given)



posted on Mar, 16 2012 @ 07:49 PM
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Originally posted by MissPoovey
So...what happens if we don't pay?

What we owe the Federal Reserve, how much of the debt is their's?

What we owe China?

Just wondering about this...because it really is so large as to be "unpayable".
Most companies and individuals would declare bankruptcy.. or in the housing market, do a short sale.

So, what happens if the citizens of the United States of America decide we do not owe this money?
Or simply and honestly cannot pay this?


What happens to Social Security, which has a massive shortfall due to the amount of money that has been "borrowed" from it?

If the USA defaults on its obligations, the US dollar will simply collapse.



posted on Mar, 16 2012 @ 08:19 PM
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For any that think this debt is controllable or is just "same old # another day" have a look at this graph.
static5.businessinsider.com...

The US is not alone though,eg Greece Spain, Ireland etc.

The increase in debt worldwide is unprecedented.Just imagine continuing that graph into the future. Big changes have to come. What they are only the financial gods know.But something has to give.

IMO the threat of war and the dodgy reasons behind them are inpart to keep the US dollar from collapsing ie.from preventing other countries (India,China etc) from using other currencies to purchase oil which would devalue US reserve notes. As well as the usual "war booty"of course.

Peace



posted on Mar, 16 2012 @ 08:33 PM
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reply to post by MissPoovey
 

Keep an eye on Greece. This will probably be the "example" that will be set.
Bankruptcy is a possibility but I think the US will "involve" itself in another war before that happens.

Nothing makes money like the war machine. The US military complex and its philosophy will ensure that the US will have income into the forseeable future.

A bit of "collateral damage" for the sake of ensuring the US's economy/status would be considered a small price to pay by TPTB.




Peace



posted on Mar, 16 2012 @ 09:20 PM
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Originally posted by LErickson
The CBO announced that HCR will lower the deficit and I come to ATS and see a thread saying exactly the opposite. Now the same team of folks that push the birther crap, that crap, now give us this. Yes, the US is completely doomed and will be destroyed unless you elect a Republican or something.


This chicken little BS is getting very tiresome.


Where does it say anything about electing a Republican? The impression I got was that we need to cut spending. It matters not weather it is a Republican in Office or a Democrat in Office... the spending still has to stop.



posted on Mar, 17 2012 @ 12:40 AM
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Originally posted by Erongaricuaro

Originally posted by beezzer
Once upon a time, America was the standard bearer, the example to set. We were the model of a free society.

Sure, we have our faults, but with time, those were being corrected.

Now?

The radicals, the progressives, the socialists, communists, haters of freedom are in charge.

They will do everything they can to see America beaten and defeated. Whether from the outside or from within.


The radicals, the reactionaries, the progressives, the conservatives, the socialists, the fascists, the communists, the politicians, the corporatists, the bureaucrats, the profiteers, the banksters, the haters of freedoms, the loathers of liberties, they're all running their part of the show for their benefit and most of America is behind at least some of them with their full support.

If you're going to point the finger and lay blame might as well include all the perps. Can you think of a few more to add to the list?


edit on 15-3-2012 by Erongaricuaro because: (no reason given)


Mexico and their active attempt of genocide warfare. If the US wasn't weighted down by all the illegals pouring into the country, we would still be a top notch country.

Illegals from mexico have destroyed every aspect of America's infrastructure. They have destroyed the public educational system, the private hospital system, the prison system and national security.

As long as mexico exist's, America will be in grave peril.



posted on Mar, 17 2012 @ 12:52 AM
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hey look everyone!
OH NOEEEEE!!!
ICELAND repudiated their debt and NOW they are sliding into the Sea!!!!!!

oh..say what?..thats just the tide coming in...same as yesterday...no kiddin?...comes in this way everyday?
then goes out? ....then comes back in....? sheesh, who knew?



posted on Mar, 17 2012 @ 12:58 AM
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I think something will be created to destroy the us. No more US, no more debt. the people with the power and money will go elsewhere.



posted on Mar, 17 2012 @ 10:35 AM
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Originally posted by tooo many pills
reply to post by xuenchen
 



Originally posted by xuenchen
So, perhaps this is just business as usual ?

And the debt will be paid for by printed money from new loans (bond issues) as needed.
(assuming the debt can be continuously sold to new buyers week by week, month by month, etc.)
 


Does this long time low interest rates indicate a:

"the longer the water boils, the higher the lid blows" scenario.
(as in: inflation will quickly skyrocket eventually ?)


I really wish I knew the answer. I know they want to carry on as business as usual for as long as they can to keep their status quo. But I seriously can't imagine how we will be talking about this in 8 years when our total national debt is nearing $25 trillion dollars (assuming we continue pushing a trillion dollar deficit every year), and the FED has finally raised interest rates.

I keep thinking they must have something up their sleeve to raise our total revenue to balance the budget, or even save money to pay it down, because they are obviously against cutting spending to balance the budget. But I have no idea how because they won't raise taxes that drastically or we would revolt, or at least I hope we would. Maybe, the U.S. has some new revolutionary invention that will create an entire new industry and the technology will be so closely guarded and advanced that the rest of the world will have to buy and borrow from us and only us to acquire it?

edit on 16-3-2012 by tooo many pills because: (no reason given)


My guess is:

1) they will raise some taxes on certain popular items.

2) they will enact a value added tax on everything.

The U.S. Government gets revenue from taxes.
Not much else, if anything, that I know of.



posted on Mar, 17 2012 @ 01:10 PM
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there is some speculation that after they crash the economy and after all the mortgage frauds
they will tax everyone right out of all the paid for homes
then you will have nationalized housing..foodstamp,s nationalized healthcare, and everything alse

basically like hockey you change ends every so often
a rule from back in the day when we played on rinks on the sides of hills
I mean there was such a thing as windage and the sun was in our eyes

the US will be the new CCCP and Russia will be the states and the bankers will be even more stinkin filthy rich
edit on 17-3-2012 by Danbones because: (no reason given)



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