...the IMF does not care if the US gov takes out more debt because our debt is keeping Europe afloat...
What absolute utter tosh! Some of you people are just not on the same planet as everyone else, your mindsets just don't even touch reality.
Yes, the IMF is pressuring America through fear-mongering to come up with a deal before Thursday, but it has nothing whatsoever to do with causing
further financial chaos, it's about the financial elite not taking a hit on their own personal fortunes, and the pressure isn't on Obama, it's on
America's debt as you know is 16 trillion dollars, how the hell can America pay that back and retain its current lifestyle level? I'll tell you, it
can't! It's not just the level of debt that America has to deal with, it has to more with it's financial elite. They will hurt whoever, however,
and with whatever it takes to retain their position, power and control over the dollar and the American people's lives, and by that relation over the
lives of the people's in other Western countries.
America will one day have to default to save itself. If they allow the debt ceiling to be raised, they will be adding the amount of debt on the
already 16 trillion dollars. So, the deal will simply 'kick the can down the road', and continue to add to the debt burden Americans will have to
face sometime soon in the future. America does not have any money to spare, and if you believe it does, I've got a bridge here I can sell you. You
When you default, the dollar will be thrown aside as the world's reserve currency, it will be dumped, and it will suddenly become worthless in
reality, and be incapable of being held up artificially as something of value. Americans have been living on credit for decades, and now you have to
pay it back, only you don't have the money to do so.
Other countries have been preparing for when the dollar takes a nose-dive into worthlessness. Yes, they will take a hit when the American economy
collapses, but they will absorb it, and are in far better financial positions to do so.
It has been all artifice and Hollywood façades for Americans, but the real world is beginning to intrude, power shifts are occurring around the
globe. You watch as China and Russia dump the dollar as a response to America defaulting, you watch the panic it will cause. Financially, you will be
dropped like a hot brick, and as China and Russia and other countries dump the dollar, they will draw panicking investors in and recoup some of the
money they lose as America defaults.
If it doesn't happen this week, it will happen in the near future. It's not a matter of 'if', but 'when'!