The United States is at war, and we have been for a very long time now. But this war did not start with any discernible military or violent act, its roots are far deeper and more pervasive….the war has been raging in our financial markets and worldwide economic system….and the United States of America has lost this war.
Things are going to get very, very ugly in this country. In this world. Time for us all to stand together.
Read the attached article carefully,
“The U.S. government has to come to terms with the painful fact that the good old days when it could just borrow its way out of messes of its own making are finally gone,”
“China, the largest creditor of the world’s sole superpower, has every right now to demand the United States address its structural debt problems and ensure the safety of China’s dollar assets.”
“International supervision over the issue of U.S. dollars should be introduced and a new, stable and secured global reserve currency may also be an option to avert a catastrophe caused by any single country.”
“It urged the United States to cut military and social welfare expenditure. Further credit downgrades would very likely undermine the world economic recovery and trigger new rounds of financial turmoil, it said.”
China holds most of the debt, but we hold the nukes.
What is better,guns or gold? If you only have gold, and I have a gun, I can take your gold.
For all the talk of default on the debt,and what it would mean, on USA ability to borrow, treasury bonds went lower yesterday. And will continue to be low regardless of ratings agencies ratings. Since there are, OUR RATING AGENCYS, that AAA rated all the MBSs that were sold around the world, who really believes them anyway?
Our Navy ” that is larger than the next 17 largest navies in the world, combined” will make sure US currency is accepted around the world, and when some punk like Gaddafi, tries to only accept euros for oil, we treat him the same way we did Iraq, when Saddam tried to pull it.
The USA is still has the safest most secure not backed up by anything fiat currency in the world.
Matt,
This is off subject, but I thought it was something you should know, and may want to commit on.
Payday lending preys on our communities, stripping billions of dollars of wealth every year – from families who can afford it least. Now the big banks, like Wells Fargo, US Bank, 5th/3rd and other banks are getting into the act, offering their own predatory payday loans.
The OCC is taking public comment on this plan until August 8th – tell the OCC NO to bank payday lending and NO to putting bank greed over people!
https://showdowninamerica.org/submit-occ-comment
My comment to the OCC.
Dear Acting Comptroller Walsh:
Payday lending, because of the economic downturn is being used by more and more middle class people who are just barely hanging onto their situation.
We have many loan sharks in prison, who charged lower rates.
Do something for the American people!
The Banks can and will continue this service, at a far lower rate if you require that they do so.
Sincerely,
John Earl Anderson
Pretty ill post. I have been using Squarespace from day one and it’s just great.