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If there is a US Dept Default what are the consequences to the US and the World ?

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posted on Oct, 14 2013 @ 07:12 AM
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If the US Dept defaults what are the consequences of this ? Will it be very dire ?

What would be the next move if the US did default ?

If there a high probability of a default or is there a chance this will resolved and fizzle out.

What are the warning signs.

Should I be prepared with a BOB ?



posted on Oct, 14 2013 @ 07:24 AM
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deviant300
If the US Dept defaults what are the consequences of this ? Will it be very dire ?


Many things. We could lose our status as the world's reserve currency, no one will be lending money and the ones that do will have super high interest. Our economy will probably crash, our government would probably also splinter as it is too big to support itself without the huge influx of cash on the regular.


What would be the next move if the US did default ?


Dig ourselves out of the hole. To be honest, defaulting is a natural part of debt. The media and the government like to paint it as this super huge catastrophe and while I'm not going to completely downplay what could and will happen, I will say that it won't be the end of the world. Germany defaulted back in the 1920's and came back as one of the biggest economic powerhouses before the start of WWII.


If there a high probability of a default or is there a chance this will resolved and fizzle out.


Tough to say, your guess is as good as anyone else's.


What are the warning signs.


If they don't raise the debt ceiling on Thursday.


Should I be prepared with a BOB ?


Survival supplies aren't a bad idea. Always good to have in case of emergencies. I really can't say if it will be necessary or not for this situation though.



posted on Oct, 14 2013 @ 07:46 AM
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There will be no default , They will make a deal . This was a failed attempt by GOP to regain some votes and raiting.The World is too much globalised and interconnected that default on debt on biggest economy in the World will cause deep crisis and recession across the planet.The big financial ,banking players will put heavy pressure on Boehner and Obama, they will squeeze them like a orange in a juicer.



posted on Oct, 14 2013 @ 07:47 AM
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reply to post by deviant300
 


Warning signs-- I think we've had a few already. I think our Zimbavwe (always misspelled) moment was when I got the word from Bernanke the FED would be buying up all the Treasury bonds nobody else wanted.. and even at the time it was a lot of them.

Then our M3, the real money supply and true indicator of the petrobuck's value went missing from the monthly reports. Can't say if it ever came back, haven't watched for it. From these guys and lately, no news is most times bad news.

I propose to go hit the Cash Station at my bank this morning and see if it works--- and maybe pick up one last head of iceberg lettuce before it hits four dollars. Maybe even a couple of Sarah Heath Palin Bars if they're not two bucks yet, just for old time's sake. (Please don't ever try to tell me that girl's broke; not in this spacetime continuum ROFL)



posted on Oct, 14 2013 @ 07:52 AM
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xavi1000
There will be no default , They will make a deal . This was a failed attempt by GOP to regain some votes and raiting.The World is too much globalised and interconnected that default on debt on biggest economy in the World will cause deep crisis and recession across the planet.The big financial ,banking players will put heavy pressure on Boehner and Obama, they will squeeze them like a orange in a juicer.


I had to star you just for the visual of some large bumpy impeller, and a big fat hand smashing those guys into begrudging compliance. Medium pulp, please LOL



posted on Oct, 14 2013 @ 07:56 AM
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It is illegal to default.
Read the constitution.

Interest on the debt is 25 billion a month.

The irs collects 250 billion a month.

There will not be a default.

Who would loan us money if we had to borrow money to pay the debt.
Nobody.
Obama is lying to us.
And some French republicans are repeating his lies.

READ THE CONSTITUTION.



posted on Oct, 14 2013 @ 07:59 AM
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We'd have to destroy the Rothschild banking system. The IRS only funnels our debt notes back to the Vatican. To undo the perpetuation of constant fractional reserve banking schemes, one must redeem those federal debt notes for lawful money(www.law.cornell.edu...). If not, you're just borrowing money at interest again, like the government does. It's a wicked scheme they've woven.


edit on 14-10-2013 by qwerty12345 because: Death to Saturn

edit on 14-10-2013 by qwerty12345 because: a plane flew a typo into my text!



posted on Oct, 14 2013 @ 08:00 AM
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If you're in the UK (from your avatar and location) I'm not sure why you'd need a BOB ready for if America defaults? Are you expecting rampaging hoards of Americans to come and burn your house down? There might be some massive movements in the markets, but I don't think the UK would suddenly stop working overnight.

Some last minute deal will be found I imagine anyway. It's all just a theatre show. The USA won't end up like Zimbabwe (that's the correct spelling by the way).

Edited to add. It is of course eminently sensible to keep a BOB ready anyway. Just not for this smoke and mirrors show.
edit on k080110bamMon, 14 Oct 2013 08:01:42 -0500 by khimbar because: (no reason given)



posted on Oct, 14 2013 @ 08:01 AM
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reply to post by bjax9er
 


Would you mind quoting the particular part of the Constitution that actually says this? Not saying that it is not there, but this is the first I've heard such a claim. On top of that, how can you make something that is inevitable illegal?



posted on Oct, 14 2013 @ 08:02 AM
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merica runs on wars. so prepare for more war in the future. MERICA!!!!!



posted on Oct, 14 2013 @ 08:08 AM
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bjax9er
It is illegal to default.
Read the constitution.

Interest on the debt is 25 billion a month.

The irs collects 250 billion a month.

There will not be a default.

Who would loan us money if we had to borrow money to pay the debt.
Nobody.
Obama is lying to us.
And some French republicans are repeating his lies.

READ THE CONSTITUTION.

I'd have to note, there really is only one process of our Government's duty which is laid out in specific ways with expectations and guidelines of time to complete it. That would be the budget.

It's illegal, quite literally, NOT to pass one and pass it in a certain process, starting on certain dates to end up by a given time. None of that has been followed since 2009. So why would breaking one more law give them pause? It doesn't get much worse than both parties, on both sides of Congress screwing us to the wall on this.

After all, it hasn't always been a Republican House and this started into limbo-land of budgets, where coloring within the lines didn't matter....under a 100% Democrat controlled House AND Senate. No excuses. None.

SO heck, we have both of them fighting for control of the wheel to run our whole system into the ditch at highway speeds.....and you figure another law broken will stop them in their tracks?



posted on Oct, 14 2013 @ 08:09 AM
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reply to post by deviant300
 


Are they going to raise the debt ceiling? Maybe.
No = can't borrow more money.
Yes = Keep borrowing.

Are we going to default? No.

If we did? Higher interest rates.
China buys even more stuff from us?



posted on Oct, 14 2013 @ 08:38 AM
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reply to post by qwerty12345
 


Wow that was a real good vid .I think she has put the finger on exactly who is the behind the scenes workers .Yep the Jesuits ..I think that the beast that turns on the whore in Revelation is the Catholic Church and their Jesuit minions .The woman has some hopes that the crooks will eventually be thrown under their own bus .North Dakota's Bank seems to be a example as to how it should be done . I have read a few articles to that statement and have a tendency to believe it .

I think if the fiat monetary system falls ,it's only going to effect the people with tons of it anyway so the little people wont suffer the way they will when they loose their ride .Imagine someone like Bill gates with all those 1's and 0's trying to find someone to trade them to. any how good interview thanks for sharing .....peace



posted on Oct, 14 2013 @ 08:40 AM
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reply to post by Wrabbit2000
 




After all, it hasn't always been a Republican House and this started into limbo-land of budgets, where coloring within the lines didn't matter....under a 100% Democrat controlled House AND Senate. No excuses. None.

What?
You mean that a Democrat House and a Democrat Senate, working with a Democrat President.... Broke the law by failing to produce a budget?

Shocking. (typed as dryly as I possibly could)

Where are all the Obama/Pelosi/Reid huggers now? Why they are trashing Republicans for playing politics.

Don't get me wrong, I hate both crews. But I hate hypocrites too.



posted on Oct, 14 2013 @ 08:56 AM
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reply to post by khimbar
 


Thanks for the reply. Just thinking if SHTF on the global stage I should be prepared.

Like riots and so on.



posted on Oct, 14 2013 @ 08:57 AM
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reply to post by khimbar
 


Actually a US default if it were to occur would be disastrous for the world economy as a whole. Look what happened after one little bank (Lehmann Bros) went to the wall, it resulted in a world wide economic recession that we are only just beginning to emerge from.

On practical level, interests rates, which are currently at an all time low would increase in order to fill the hole. So your credit card suddenly gets out of control. Likewise your mortgage. Even if you don't have a mortgage, your landlord probably does so he needs to put your rent up to manage. Debt trickles down and those with money stop spending, making it harder for those who need it to get it. People will start defaulting on their loans, loosing their houses, cars and having to drop out of college or school. Food will become more expensive to produce and therefore to purchase. Energy prices will need to go up too, so people who have relatively comfortable lifestyles will need to start thinking carefully if that cappuccino they get on the way to work each morning is really necessary, or if they can afford to eat out at restaurants this month.

Look at what is happening in Greece, Cyprus and Russia right now with the increase in popularity in extremist political movements.

The international energy markets are primarily traded in US dollars. A us dollar is in effect an I.O.U. issued by the US government. Would you accept an I.O.U. from someone who stiffed you last month?



posted on Oct, 14 2013 @ 09:06 AM
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reply to post by redshoes
 


And a bug out bag will stop that how exactly? I'm not saying it won't be ugly but it's not an event that a BOB will help him through in the UK. Unless zombie bikers suddenly drive him from his house.

And I don't have a credit card and my mortgage rate is fixed.
edit on k091310bamMon, 14 Oct 2013 09:13:21 -0500 by khimbar because: (no reason given)



posted on Oct, 14 2013 @ 09:08 AM
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We're all doomed. I like that word doomed. It gives me incentive to better myself. A challenge is always good to build our spirit.



posted on Oct, 14 2013 @ 09:11 AM
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deviant300
reply to post by khimbar
 


Thanks for the reply. Just thinking if SHTF on the global stage I should be prepared.

Like riots and so on.


I absolutely, positively think you should be prepping, and if the USA default is the catalyst to start you prepping then I'm all for it. More power to you.

I just think that a BOB, in the UK, isn't the way to prep for this potential event. That make sense?

edit on k091410bamMon, 14 Oct 2013 09:14:09 -0500 by khimbar because: (no reason given)



posted on Oct, 14 2013 @ 09:13 AM
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khimbar
reply to post by redshoes
 


And a bug out bag will stop that how exactly?


I need a couple of semi trailers to bug out. I'll stay put and make coffee and cookies. I wonder how much coffee FEMA has in their warehouses. If they don't have any, we will all be zombies.



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