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Can the US Government Avoid Default?

Discussion in 'Political Issues' started by snerd, Feb 16, 2013.

  1. snerd

    snerd

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    http://lewrockwell.com/north/north1264.html
    [FONT=Times New Roman, Times, serif]
    [/FONT]
     
  2. John_NJ

    John_NJ

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    NJ
    The next question is -- when does China collect on the US debt send their troops to seize US assets after the default!
     


  3. snerd

    snerd

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    I thought they had permanent residence in the Lincoln Room in the White House? Oh, wait, that was another hick president.
     
  4. JBnTX

    JBnTX Bible Thumper

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    Fort Worth Texas
    I think deliberate default is the plan.

    Obama wants to tear it all down and then rebuilt a utopian socialist society completely dependent on government.
     
  5. sheriff733

    sheriff733 NRA LIFE MEMBER

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    /thread
     
  6. EOS

    EOS

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    Central Kentucky
    Some folks think the dollar will collapse because they'll print money to pay off the debts. I say no, because the Government will simply default and stiff all of it's creditors.
    The owner of most of the debt is the Federal Reserve, so what does that mean?

    China won't send troops to seize assets because the cost in life and logistics would outweigh the debt we owe them. Nukes and an armed populace isn't something the Chinese would be willing to face over a debt.

    I think the most likely outcome is China demands a payment plan of
    sorts or the US allows access to some resources or something in exchange for debt forgiveness. The other debt holders are ally nations and the debt to them will be forgiven.


    I think the most likely outcome is the US becomes China's servant.
     
    Last edited: Feb 18, 2013
  7. DWARREN123

    DWARREN123 Grumpy Old Guy

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    I think most governments are near the end of their peoples money. One major player fails and others will follow.
     
  8. series1811

    series1811 Enforcerator. CLM

    It's already being done.
     
  9. series1811

    series1811 Enforcerator. CLM

    I think a major resetting of global politics is coming. It's not like it hasn't happened over and over again througout history for similiar reasons. We are not special. God has not written that normal economic rules will never apply to us.
     
  10. EOS

    EOS

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    They have no intention of paying off their debts.


    The debt wouldn't be as high as it is if they were serious about paying it off. That being said the dollar is still subject to devaluation and has an expiration date such as the case with any fiat currency. I just don't think it's there as long as we will invade any country that tries to boot the dollar. But I will still keep buying gold.

    Bernanke isn't printing money to pay off China, it's all going into the economy to give the illusion of growth to make the powers that be appear as though they are making progress. And to keep the sheep happy of course.
     
    Last edited: Feb 18, 2013
  11. JBnTX

    JBnTX Bible Thumper

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    Fort Worth Texas
    Exactly right!

    Most of it will just simply be written off.
    Deals with other countries will be made to pay some of it.

    And a massive tax increase on taxpayers will take care of the rest.

    All at the expense of the credibility of the United States and the value of the dollar.

    ..
     
    Last edited: Feb 18, 2013
  12. Atlas

    Atlas transmogrifier

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    north of the equator
    That is exactly correct.
    Many, perhaps most, are too ignorant of currency and banking/central banking to see it. They feel it everyday, in a multitude of everyday ways, but they cannot understand what it is or identify it as such.


    "All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation."
    -John Adams, 2nd president of the United States