World top bankers warn of dire consequences if U.S. defaults

tothetenthpower
reply to post by xuenchen

 

They WANT the US to default!

That's the BEST CASE SCENARIO for any of these globalist financial tyrants. That puts more control into their hands.

~Tenth

I second that.
I don't agree with printing more money to prop up these parasitic banks, but they have a hand in their cards if we default as well. We loose either way unless we can break away from their globalist ambitions.

RP2SticksOfDynamite
Default = Freedom from a Banker Driven Constitution

Get rid of the FR and USA folk get their country back.

Keep FR = More of the current SQ

go and look at how the monetary and banking system was in the 1800's in the US....there were booms and busts, normal American people losing their entire savings to fraud, and corruption, with fake ledgers, bogus accounting, loss and thefts of gold and silver, and counterfeit bills and coin. family members were killed, and houses were burned that tried to keep money, precious metals, and valuables at home.....you had to have laws and regulations that controlled these institutions, with punishments of prison time, and it had to be on a national level. a barter system wouldn't work in these modern times, nor would caches of gold and silver. the massive financial juggernaut of world commerce involving trillions of dollars would not be possible....however....I think we would both agree that some 25 year prison terms for bankers, need to be handed out for what happened worldwide in 2008, along with the confiscation of several billionaire's wealth.

reply to post by Misterlondon


What exactly would actually *collapse* ?

The U.S. has the income from regular revenues.

If 'we' selectively *default* on certain foreign creditors....so what ?

You can check the daily transactions of the government and see

so basically the bankers are saying we need to control the money as there is no other way that wouldn't lead to chaos.

probably rings of truth in it but maybe a bit scaremongering. depends on your opinion on dire consequences.

xuenchen

Well I'm all broke up about these international Hustlers bankers that are all worried and hyped up about the Americans *Possibly* defaulting.

Maybe it's high time we as a nation start taking things in OUR best interests, not the foreign banking interests.

You bring up some good points here, the first one being that there is a high possibility of default, and the second one being, where is the article for the average citizen warning them of consequences?

So business leaders are worried? What about 98% of the population?

Those so called bankers can suck the sh*t out of my a**. They're the ones who caused this mess in the first place. No, I'm lying. The government caused this mess by catering to thier greed and giving them a bailout instead of the smackdown they deserved. They all should have been charged with fraud and thrown in prison.

So now here we are shutdown and near default, and the banks have the nerve to talk about responsibility. Sounds like the pot calling the kettle black to me.

reply to post by BardingTheBard


Erm, the main reasons why Greeces' public economy is "bankrupt":

- They don't pay taxes
- The families get dead relatives' pensions
- Government officials retire at 50 and they cannot be sacked
- Over 60% (!) of the youth is unemployed

I know, since we have funded these leeches with over 1 billion euros.

what are all them youths doing!?
agreed that's why Greece is broke.
but they are used to it.
what do we get from the billion we put in there?

As this article explains, the US has defaulted more than once before. We're still here. We survived. The people who are most worried about a default are the bankers, and we ought to give them a good Icelandic middle-finger salute like they did. The bankers don't deserve anything.

Jim Grant Warns America's Default Is Inevitable

reply to post by Tryptych

Who benefits most from the European Union and a unified currency and the ability to make one country bail out another?

Your problems are not the Greeks. If you weren't bound and lashed to them by financial interests larger than you they would be forced to solve their problems or die. And the rest of you would continue.

The inherent goal of all central bankers is to get weak people/systems forever dependent upon them and take control of the currency of productive healthy people/systems. Then they get you to believe you owe it to each other and then without your consent transfer the wealth from the productive to the unhealthy with no real effort put into fixing the problem that got you there.

During all of this... they make a KILLING on "fees" for every transaction, the interest on "loans", and the ability to manipulate a now slave government to rob their citizens directly rather than change their policy.

Or sure... you can continue the multi-thousand year absurdity of "those people are just inherently bad" that gets us to kill/rob/oppress without addressing the real hand nudging and sometimes forcing everyone to get into these different situations... playing both sides because there is money to be made for them in Greece falling apart and in forcing you guys to bail them out.

You blame the Greeks... and the financial interests above the EU laugh and thank you for helping making it easy for them to rob you both. Enjoy.

benrl
You know what also sucks, when a Family is irresponsible with credit and goes into bankruptcy. They can lose their cars, their house, personal assets.

Children can be displaced, wants get neglected in the name of needs.

It happens every day in america, Everyone has to be held accountable for their actions, we don't ask any less of any citizen of this country.

Why do we except less from our government and those who represent us?

Cause its not obama and all the poltician cronies democrat and repunlican that will pay.

You know who?

ITS YOU


It will be your job that will go and your house that will reposssed and you taxes that will be increaed!

Why cant you see this !!!!!

reply to post by xuenchen


You tea party fools love capitlism so much right?

Well isnt part of capitlism that you borrow money you HAVE to pay it back?

Let's let the Fed loan the US another $1Trillion(manufactured out of thin air) at 1% interest. That's only an extra $10 Billion a year in interest paid to these "bankers".

reply to post by BardingTheBard


FYI

- It certainly ain't helping that the people out there don't pay their taxes, so the public economy is broke on the surface, not the people (except for the young)
- We didn't get to vote for EU
- 80% of the people here are against it and the "financial aid packages" as they call them
- We're very aware that banks has their doing in this

So please, don't tell me to "enjoy" this. I certainly didn't vote for this.

reply to post by Tryptych

Star + understood and apologies for addressing you sarcastically.

I projected from your post and what you were replying to that your basic mindset was that "we'd be fine if it weren't for those Greeks".

We're all in this boat together right now and I utterly empathize with all of you in the EU as you're as equally stuck with the "we didn't vote for this but it's still being done in our name and with our resources" situation as those in the US.

/salute and best to you as we continue to observe this unfold.

jrod
Maybe we need a default so We the people can take our country back from those who got us into this mess.

My understanding is a default is inevitable unless we can continually raise the ceiling.

If agree. If its going to happen, I'd rather get it over with now while my kids are young instead of letting them deal with it later.

xuenchen
World top bankers warn of dire consequences if U.S. defaults

WASHINGTON | Sat Oct 12, 2013 1:56pm EDT

(Reuters) - Three of the world's most powerful bankers warned of terrible consequences if the United States defaults on its debt, with Deutsche Bank chief executive Anshu Jain claiming default would be "utterly catastrophic."

"This would be a very rapidly spreading, fatal disease," Jain said on Saturday at a conference hosted by the Institute of International Finance in Washington.

"I have no recommendations for this audience...about putting band aids on a gaping wound," he said.

Jain, JPMorgan Chase chief executive Jamie Dimon and Baudouin Prot, chairman of BNP Paribas, said a default would have dramatic consequences on the value of U.S. debt and the dollar, and likely would plunge the world into another recession.

Poor Deutsche Bank.... They bought up all those federally guaranteed student loans so they could seize our Social Security money when we get old - causing us to end up living under a bridge because of their federal offset to collect the loans from the department of the treasury. They deserve to lose everything, maybe then I can not worry about living under a bridge when I get old, it's hard enough keeping Sallie Mae happy.

The US Federal Government takes in $250 Billion Dollars per Month in taxes, fees, rights, etc.

The US Federal Debt Service is $20 Billion Dollars per Month.

We can't default on our debts - ever.
Unless Obama decides to default

It's all theater.

This is all a bunch of double-talk. "Bankers" (really, the major banks and/or big money net creditors in general) want this and just don't want to be blamed for it because they know what they're doing, aka stealing billions of dollars. 'Oh look, we warned you not to do this.' It's all a bunch of BS. Politicians do what money tells them to do.

What they are about to do is steal a lot of money in plain sight. There is no reason the US should default. When the US defaults, interest rates for existing debt will jump. That means more money for bankers.

You have an outstanding debt. By the time you pay it off, you will have paid the bank say $1000 in interest over what you borrowed in the first place. Except then the US government defaults on a debt payment. Your interest rate jumps. Now by the time you pay it off, you will have to have paid the bank $1500 in interest over what you borrowed in the first place.

So in other words, a government default makes your existing loan/debt more expensive for you and more profitable for the issuer. It's like having them change the terms long after you both agreed to them.

reply to post by xuenchen


Occurs they are worry can you imagine if the Fed can not keep paying the QEs to keep the mammoth banking system working, if the US too humongous to fail goes belly up so the rest of the world financial system.

They most be wetting their pants as we speak, even when I know is no right, I only wish.