Geithner Say U.S. Insolvent.

Therefore, as usual, Congress will raise the debt limit again. That doesn’t end the financial problem. It adds to it even as it postpones and enhances possible insolvency.

The new lenders that the government seeks out to lend it new cash are likely to demand higher interest rates, except for one major lender, which is the Federal Reserve System.

www.infowars.com


Now you know things are bad when even people in government aren't bothering to try sugar-coat it anymore. The Happy-clappers are giving way to the Nervous Nail-biters. Guys,there is just no way out of this for America except down.

China,one of Circus America's biggest tent-poles, is heading for a huge disaster of it's own and won't likely to continue helping out much longer. Lenders are eventually going to either start demanding higher payments or dry up altogether. Either way,it's not looking good.

China Credit Bubble on Borrowed Time as Inflation Bites.

Countries everywhere are groaning under the weight of their own financial burdens and it's only a matter of time before lending to America not only dries up but the debts start getting called in. What happens if the house starts calling in it's debts and the gambler doesn't pay up? You call the cops,right?

Nope,on the international stage there's really no system for handling things when a country defaults so you have to send in your own muscle. This means more war-economic or otherwise. I hope not but that is one scenario we should entertain if America does default on it's obligations. If all this weren't bad enough,there's still the massive toxic securities Ponzi scheme to deal with (which is currently being stalled by the State's investigations and the whole foreclosure mess). A lot of countries who invested in them on the promise that they were 100% safe are really freaking angry right now and expect to recoup their losses-one way or another,I'm sure.

The powder keg is packed. The fuse has been has strung out as far as it can go and is now burning.It's time to get the Hell out of Dodge. Pack it in and head out while you still can because this house is going up like a pile of cheap Chinese bottle rockets.

Of course we are insolvent. Time to repudiate all debt and return to strictly Constitutional government.

The debt ceiling will be raised anyone thinking otherwise is a fool. Geithner's strong language is necessary given his position and the obvious facts.

brill

reply to post by FlyingJadeDragon


I confess I find this hilarious. It takes until 2011 for the former Goldman Sachs' Exec Tiny Tim to report of looming insolvency?! LOL!

What is worse, we could have saved some bank notes on his salary and asked anyone who had read The Creature from Jekyl Island back in the '90s- they would have been able to tell us! 80s even!

I don't give any credibility to anything coming out of the District of Criminals myself, and it is laughable that some of the befuddled still hold weight to what Timmy has to say nowadays. Reminds me of that Youtube vid, "Peter Schiff was Right Again and Again and Again." If the moron Tim has taken this long to figure it out, don't you think people would stop listening to him and instead pick up the phone and call those who know pre-collapse? Lol!

Forgive me, but that is just too much. Love it. The soft-eyed sheep being led by the heroic Tim, Bama, Boner team are certainly looking forward to the visit to the butcher-shop masquerading as a Sheep Spa! Too much... lol!

I took a Geithner this morning and it was bad. No more chili cheeseburgers, nachos and hot peppers for a while. Those Geithners hurt like hell.

Does he think this is news to someone? Being trillions in debt = insolvency. Ummm...what am I missing here?

This shouldnt be a giant revelation to most people.

We have been insolvent for quite some time, and they are only digging a deeper hole for all of us.

All spending not expressly authorized in the Constitution needs to end immediately.

reply to post by FlyingJadeDragon


is it almost time for the Amero slight of hand??

they'll chime in with the "End the Fed" chants...

then head right back down a privately owned global fed bank road...

laughing & printing as fast as can be,,,

reply to post by bozzchem

Ouch.

Couldn't resist.

Originally posted by bozzchem
I took a Geithner this morning and it was bad. No more chili cheeseburgers, nachos and hot peppers for a while. Those Geithners hurt like hell.

Next time, chase it back with a bottle of Paulson. That might help.

Here you guys go.

www.c-spanarchives.org...

Please listen to the interview of the U.S. Economic Outlook and Monetary Policy January 7, 2011 Congressional hearing.

Listen to the time line between 2:33:00 to 2:38:30

U.S. treasury has 125Billion so says Federal Reserve Chairman Bernanke.

Originally posted by barkingdogamato
reply to post by bozzchem

 

Ouch.

Couldn't resist.

You think a Geithner is bad???? Try popping out a Bernanke or a Paulson....sheesh. I've personally been witness to child birth and could never take anything away anything negative from it. Seeing the pain and tears followed by the joy are something that all should be witness to in their lifetime.

Popping out a Bernanke or Paulson??........ugh......nobody should ever have to see that mess. Just find a way to get rid of the detritus and hope such an occurrence never happens again...

Here's what Obama said about raising the debt ceiling when he voted against the motion back in 2006....

The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. Leadership means that ‘the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better. I therefore intend to oppose the effort to increase America’s debt limit.

Last week we got this from Obama's Skull & Bones member, Austan Dean Goolsbee....

Austan Goolsbee, chairman of the President’s Council of Economic Advisors, said Sunday on ABC’s “This Week” that not raising the debt limit would mean the United States is “essentially defaulting on our obligations, which is totally unprecedented in American history. The impact on the economy would be catastrophic.”

Link

Change we can believe in ?

Change we can believe in ?

I believe I'll change my underwear now...

Not looking good for Europe either...there are talks that Portugal and Spain should ask for Bailouts as well...but both are still blocking,saying they dont need help...we saw how that ended with the others And i,as a German,expect to pay for this,again...

Edit: And the Value of the Euro goes down too because of this Mess..

Originally posted by Shenon
Not looking good for Europe either...there are talks that Portugal and Spain should ask for Bailouts as well...but both are still blocking,saying they dont need help...we saw how that ended with the others

And i,as a German,expect to pay for this,again...

Edit: And the Value of the Euro goes down too because of this Mess..

edit on 10-1-2011 by Shenon because: (no reason given)

Agreed. There isn't enough to spread around. Broke countries can't loan money to other broke countries and expect anything to get done. Got to let countries,like people,rise and fall on their own merits. The EU was a great idea on paper that shouldn't have never left the bureaucrats' desks.

reply to post by FlyingJadeDragon


Yeah...you know what my biggest concern is? That Germany,as the biggest Economy in Europe,has to pay more and more because one Country after another goes bankrupt, and this is what is happening right now,until our own Economy falls apart...we are already at the Point where its hard to find a Job which pays enough to survive without Financial Support...and those numbers are rising...

Only way out for us would be to get out of the Euro and get our old Currency back...but with the Way the Global Economy is going,this would be suicide...

reply to post by FlyingJadeDragon


So what are the scenarios if the limit is not raised? What happens when "insolvency" is declared? How will this affect the nation in general, and the people individually? What is worst case? What is best case?

Does it simply mean imports are cut off? The welfare checks dry up? What should we expect?

Can "insolvency" be a good thing as a catalyst to bring about something more stable in the future?

Originally posted by Alethea
reply to post by FlyingJadeDragon

 

So what are the scenarios if the limit is not raised? What happens when "insolvency" is declared? How will this affect the nation in general, and the people individually? What is worst case? What is best case?

Does it simply mean imports are cut off? The welfare checks dry up? What should we expect?

Can "insolvency" be a good thing as a catalyst to bring about something more stable in the future?

In a nutshell,with the current money system,the economy must continue to take on more debt in order for the economy to expand. This means more borrowing to keep spending. By not raising the debt ceiling,they can't borrow anymore money,which is used,in part, to pay back loan interest to the last person they borrowed money from. It's a viscous,ever-expanding black hole of debt which cannot be escaped. With Fractional-reserve Banking,if everyone paid off their debt,there would NO money (cash,etc...) in the system. Money equals debt,not wealth.

They stop borrowing,they stop being able to pay debts. Or something like that...

Oh no, now Canada will be the next nation with southern border issues and icky illegal ALIENS invading and crawling all over THEIR place. (big LOL). If we're nice to them and learn to speak Canadian, maybe they will let us work on their farms and at all their McDonalds (lol).