Geithner says U.S. Government will default on debt

[lahism7]

Life's a bitch,death is her sister and sleep is the cousin.Thats the only world order!

[Togwando]

Personally I think it is a deliberate and protracted effort to destabilize the US. I refuse to believe that the banks and governments do not have the brain power to not see this one coming. I personally think that there is a thought out plan being carried out here to establish the need of a one world governance and economy.

[carl16760]

buying time for computer and weapon advancement...the next war will be with China...and it will be the mother for both sides...their getting everything set up like preppers...when reports of them big shots bugging out of the US. look out...

[BobbyWarrenMiller]

No country has been able to support fascism for long. Needlessly murdering citizens of other countries in order to control their natural resources will catch up with you. "In God We Trust" is bullshit. The truth is "In Weapons of Mass Destruction We Trust". The perfect justice would be for cities like Paris, London, and New Your City to become garbage dumps filled with tents, soup lines, and rats, lots of rats. Then the damn hypocrites could have some meat in their soup.

[splicedenergy]

@BobbyWarrenMiller So you copy paste the same exact paragraph everywhere, for your info the US citizens themselves have been demanding the wars and conflict to cease for years now. So don't play this card as if the people are the same type of people as the government people are. They simply refuse to bring our guys home. I think its a religious thing. I don't think its about any resources. Sure that was a good theory in the beginning but that just doesnt fit anymore. Self fulling prophecy likely

[JohnnyBGood11]

I have been thinking about this too; Obama wants the dollar to fall for a global financial crisis so that some type of new world order can start to take place and to take away the United States Constitution, in the process disarm everyone so that the NWO can make us all slaves; that is the end game and get rid of people ..Jesse Ventura said it best the elites want most of us gone!

[colombo14]

the reason why they're buying time is because the truth is that the USA currency has no real value, they're financing the war using monopoly money (printing money with nothing to back it with) , and they'll keep doing this until it defaults. then they will be introducing the Amero (new currency for USA ,Canada and Mexico) anyone who has any American dollars will be automatically broke when this happens.

[astro7894]

Of course they want to buy time. The longer they are in power the better for them. Its all about the preservation of their power. Pure and simple. Money is power, and while the control it (ie: delaying the collapse) they control people.

[heplannedus]

hi, please consider these years they are important : 2001 sept, 2008 sept ,2015 sept - 7 year gaps..7 is Gods holy number . big events happen in 7years in the bible, this pattern is exactly what is happening right now, the answer is in joseph, this is the time of famine it will last 7 years if im right. A new system will appear round about 2015.

[heplannedus]

please read the book of genesis it will show the answer to this crises,during the famine the money failed , people were in great debt to the goovernment , the government took control of food,people, animals, and property . A new system of taxing was formed to enslave the people. 7 year pattern.

[heplannedus]

hi, please consider these years they are important : 2001 sept, 2008 sept ,2015 sept - 7 year gaps..7 is Gods holy number . big events happen in 7years in the bible, this pattern is exactly what is happening right now, the answer is in joseph, this is the time of famine it will last 7 years if im right. A new system will appear round about 2015.

[Crysis482]

It's Americas fault if they collapse, they let all their buissnesses go to China and let the US collapse. All they care about is money, while they sit back and line their pockets the people lose their houses, cars, and everything the worked hard for. If they do default on the debt ceiling, I don't doubt their won't be another great depression. But this time people will end up leaving the US and going to places like Canada, Europe, ETC, And staying there.

[237butterfly]

they just want to hold on to there power as long as they can

[pgram]

Part 4: or to spend more money with chances to maintain public services like mediaid and ss# but add on to debt is growing every second. To answer your question I have no clue the government is buying time and why we were/are in war with Iraq. Everybody please reflect on the Fall of Rome. I dont really go into all conspiracy theories but America is corrupt its no secret since the Nixon and the watergate, the death of JFK, and the Florida recount.

[pgram]

Part 3:In order to fund this war the gov't had to create securities and bonds to sell with no idea how to pay back. So I guess this leads up to our dilenma today that in order to try and lower unemployment and revive our economy the government must spend (Please refer to the ad and as curve) but the government is not raising enough revenue through taxes to pay their debt inevitable catching the United States in trap.The cut back spending to pay their deficit hurting the economy or (to be cont)

[pgram]

Part 2: In Fiscal Policy in order to revive an economy Gov't must increase Gov't Spending or/and decrease taxes. The Bush Admin. did a shit load of spending to the war which was the lowest multiplier ( please refer to multiplier effect) instead of making bridges and schools that can help us and our economic in many ways like employing workers, raising consumption or creating business for more local businesses.Bush spent so much that he created a deficit and in order to fund (to be cont...)

[pgram]

Part 1 comment : I dont know the full story about our economic nor am I an economist but I do think that the hugest thing that set the United States economy as a whole is by government spending on the war and the collaspe of A.I.G. . What our GDP consists of is (Consumption+Investment+Govern­ment Spending+ Net Exports). The two vital factors in this equation is Investment Monetary Polciy (like the interest rates and money circulation) and Fiscal policy which government spending. (to be cont..)

[lordblazer]

@ChimeraWarrior73

part of me agrees with this, part of me who is benefiting from this system isn't, but I only benefited because I knew how to play the game, adapt to arbitrary changes in rules and pretty much navigate my way to a BA, soon to begin earning an MS. I saw most of the known world, and speak four languages. I think though if this system collapse it will give us a chance to try something new, allow new ideas to surface because right now only uncreative old men are being heard.

[apieceoftofu]

i hate the way you talk fast and drop the ends of your fucking words. makes it impossible to understand.

[lambergino]

@apieceoftofu I didn't have any trouble understanding it... and english in not my native tongue

[numbnuts234567]

If the US defaults, there will be a lot of people getting on boats and making the ninety mile crossing between Florida and Cuba. But this time they will be heading towards Cuba.

[MonacoRocha]

Why don't you speak Slower so we can understand what you r saying you Idiot !!

[jesse2076]

@MonacoRocha are you slow?

[ProsperityGlobal]

there is a danger that the US, UK, Japan and Italy could all default that is 4 economies in the G8, this is a major issue.

[lordblazer]

@ProsperityGlobal

kinda is a major issue when half of the G8 defaults.

[cnmmnc8852]

Hey Timmy Geithner! Hey Hank Paulson! Hey Ben Shalom Bernanke! Hey US Terror State!

PULL THE PLUG! BRING IT DOWN!

We’re ready in the Patriot Community.

We’ve spent decades fortifying, preparing and planning and we’re ready for the gates of hell.

BRING IT ON!

If you make another threat and don’t pull the plug, then YOU ARE FAKES and TOTAL FRAUDS.

You’re a scared group of wimps but we’re ready so…

BRING IT ALL DOWN!

[sixxdegree]

nwo



[videolover61]

@organicmofo

New world airport? What the hell are you talking about?!

[76reliant]

Obama believes in fascism/socialism...To him, this is fine, since raising the debt ceiling would help fund obamacare...Kick the debt down the road till the next election....It's sooooo important to not raise the debt ceiling....This is the next major battle....liberals will lie and say we have plenty of money, while conservatives will say we don't...The liberal press will do its usual pictures of old women sitting on a park bench, but if the U.S. quits spending, it will be forced to cut..

[Goontrader2]

@76reliant

- Research how many times the debt ceiling has been rasied, and by what party.

- Research who was the president when the national debt first hit a trillion.

- Find those answers and you might have a different view.

- Oh yeah, and stop watching fox news.

[76reliant]

@Goontrader2 Research who started social security and all these other ENTITLEMENT programs, which are bankrupting us....This debt isn't going to get better, unless massive entitlements are removed or greatly changed...obamacare is just another way for govt to have more control & spend more..you liberals don't understand more govt means less freedom....I don't care who would be in office right now---don't raise the debt ceiling and start cutting entitlements...the u.s. dollar is on life support

[lordblazer]

@76reliant

entitlement programs isn't what caused this debt. I am sorry but stop parroting this lie. Social Security was running a 2.1 trillion USD surplus.Everyone pays into it. It is the people's money. The US only spends 15% of its GDP on social spending compared to the big 30% on its defense spending(this number might be higher actually), and recently was giving free money to financial institutions that fucked us over. In a sense you're just someone spewing shitty ideology ignoring reality

[MrJohnadams76]

@Goontrader2 stop arguing about parties they're both the same. both of you need to wake up from the two sided babble.

[krb1911]

Two reasons why they will not end the wars in the Mid East and may even escalate them (Libya). First, control of oil. Second, if I were planning to eventually declare Martial Law, possibly using foreign troops or contractors, I'd want many American troops out of the country, especially Army and Marine Corps active duty infantry. They are hard core troops and mostly patriots. They will not participate in implimenting Martial Law and would side with the people.

[profaneslave]

Fuck Geitner, Lil spoiled Zionist millionaire owed 25K in back taxes when Obama (under orders) gave him the job of treasury secretary. Washington's moves are better than watching southpark baked.

[jcb570]

well when the dollor will not buy oil we will allreadr have troops there on around the oilfills we already control them some what and when i say we US and friends

are gov dont know much but thay know oil makes there car go

[normski262]

THE NWO are working to a plan! this is all engineered, the complete and total global collapse will occur next year 2012. this year will see the BIG build up to it although it's been ongoing for some time now. They are right, 2012 is the Armageddon. Ring side seats, to end of the world!!! We all goin down man!

[DKPrepper]

I belive that the elite are enjoying the profits between the Fed rate (loaned to the banks at ,25%) and 3.5% tresureys. I have been saying for almost a year that they will enjoy this as long as the dollar can still buy stuff. Hopefully it will last a long time for them. The longer the better, a preppers work is never done.

[lordblazer]

@DKPrepper

I think a US defaulting might be a good thing, and trust me China will definitely be screwed. The whole global economy is screwed once the US defaults. I think if this happens possibly new players will be allowed to even sit at the table let along participate. Maybe we can get the reforms needed then, otherwise I think people will blame others, fuel racial hatred, and start murdering each other. Ignorant people seem to always rule over us all in the end.

[jimprjayp]

Just two comments. One; do you think China knows the extent of this conspiracy? I'd guess no even though they know more than our Congress based on the fact that the rest of the world owns a dictionary and actually uses it i.e. conspiracies are a fact of life occurring daily or "What is OPEC?"

And two; why is congress OK with putting people in charge who openly want to run a 'world' economy when their proven track record shows their ineptness at running a smaller economy?

[nodesnetwork]

The optimal month for collapse from the perspective of the common person is April. Why? That gives you time to prepare for winter.

[mattyelle1]

@FEDRESERVEOWNDU yup, that's y I'm buying physical silver. To bust the manipulators. Yup banisters have influenced gov for over 100 years in the US, but now it's also corporations that influence gov. But really, to mention JP Morgan or Goldmann Sachs is marginal...the biggest players are undoubtably the Rothschild.

[mattyelle1]

3 simple words for delay: New World Order

Bush said it, Clinton said it, Blair said it, Soros said it, W. Bush said it, and now even Obama at the UN said it.

Want to know more about the NWO? Just take a minute to study the Denver Airport murals or America's Stonehenge.

[FEDRESERVEOWNSU]

we are being manipulated by the central banksters (ours is the federal reserve) they take our money and maniputlate markets, pit one country against another. that is why china is so powerful right now, they are aligning the asian governments into the central banking system or NEW WORLD ORDER.

[mattyelle1]

@FEDRESERVEOWNSU Well said pal. They will use the easily conforming Chinese to run the center of their NWO. That's why America has been supporting Chinese business by buying everything they do while the Chinese have rarely bought American products. This is due to border tariffs. America will be left to bleed itself to shear animal instincts in a battle against crime and famine. I'm planning on being ready.

[FEDRESERVEOWNSU]

@mattyelle1 : it is not america that supports the chinese, it is the shadow government run by the central banking system that runs the united states governement...follow me: link the Federal Reserve and its cash flows to the banking system(goldman sachs, JPmorgan) this arm of central banking manipulates the markets. LINK corporations run by the central bank cartels are legal entities in the US that use its profits to pay off our politicians and they make the laws that favor the Elites...

[blastforyou]

@FEDRESERVEOWNSU In the era of gold backed dollars this situation could not be realized(a $14 trillion debt obligation) and the interest payment alone is around $500 billion annually and the real possibiliy of the interest rate doubling and we could find outselves in a situation of the Greek government default. In the U.S we have one of 20 people drawing SS disability and we are heading into a situation where hyper inflation will seem to be a easy way out(but it won't).

[videolover61]

Little Timmy Geithner looks like a bat...he's evil...

[neanam]

@videolover61 he dose look like a bat....evil scoun booger

[milkgass]

THE GOLD.IT HAS TO BE THE GOLD.THEY ARE EATTING IT.

[drchiodo]

Oil. Preserve Petro-Dollar status. That's why the US is in the Middle East. Without that, there would be capital flight away from the US$, must faster than now.

[mariasman100]

Never attribute to malice what can be explained by incompetence. Our political leaders have no spines. Would you expect anything of a pure democracy, which is what the U.S. has effectively become? Many decades of deceit has woven such a convoluted web that our "leaders" have no clue how to fix things. Telling the truth is not an option among those in power as they have been complicit for too long. Hence, nothing will change outside of revolution. I believe that the smartest within the circle...

[mariasman100]

... of power and influence see a high liklihood of a continued decline in the prominence of the U.S. dollar in international finance. Our dependence on imports (particularly oil) necessites action. This explains our presence in Iraq and Afghanistan. Establishing a military presence will facilitate our actions abroad in unforeseen circumstances as that region will likely play a key role in future events. Iraq is attractive for its oil reserves. Afghanistan is attractive for its mineral deposits.

[Myrmecia]

@mariasman100 "Afghanistan is attractive for its mineral deposits." Just as the British, then the Russians and now the Americans/NATO discovered, you can't hold Afghanistan. Mining companies are going to fare no better unless they operate in ways that get the approval of about 100 tribes that have influence over the land between the mine and the coast.

[REOGURU]

Its my opinion that they are buying time in order to complete a convincing "false flag" event that will precipitate a war in the Mid-east. As that "false flag" event unfolds, the US population (and perhaps those other countries) will clamor for safety/security and be willing to trade their remaining freedoms in order to have it. The military/commercial state will be complete then. Expect other things such as chipping people, a world currency, & world tax. That would be my guess.

[JamesD2023]

They want to delay the collapse in order to buy more time to strip us down and weaken us more so we won't be able to fight. They're worried were still a little too strong.

[swami24u]

the reason may be that they are planning some thing, to convince americans that the change that has to happen is patriotic and we need to sacrifice a standard of living .to be a true american or something like it . won't leave Irag because of oil and afganastan I really don't know ?

[tenagliac]

It's a game of hot potato. Passing the ticking budget deficit back and forth. Hoping it blows up on the other party. But then what ? Buying time to stall the repo man ? What will he take ? And who is he ?

[Brie217]

I have wondered the same thing...why are they waiting to pull the plug?

[MAXBLAYLOCK]

They want control of the lithium deposits in Afghanistan

[brown55061]

To the outsiders it may look like they are just "buying time" but the elite class is getting insanely rich through the greatest wealth transfer in history. In the first bailout there was no cap on the max they could take, and they are still taking. As one pundit put it, the execs from JPM, Goldman, Citi and BoA received more money in bonuses than the entire nation of Viet Nam grossed that year. So around 150,000 math nerds screwed Americans out of billions, if not over a trillion now.

[brown55061]

continued...

They will never pull out of the middle east because the US still pays it's debts to the Arabs by controlling oil flow. This determines the petrodollar's status, which is also the vehicle for them to increase their wealth. Plus, the ruling class of new age doctrine folks believe in using the US military to dictate events until the big war prophecies that they are trying to self fulfill to bring about their maitreya.

[Myrmecia]

@brown55061 - What did the execs from JPM, Goldman, Citi and BoA do with the money? Over a trillion - where did it go? And where is it going? Whatever they are buying, someone else is selling.

[burnoutnt]

Its a waiting game, they need to be able to control the middle east governments to profit from their oil, since that is not working as planned, it has delayed the process. Will it ever happen, who knows.

[Djw0071]

I have small children too, feel your pain. I believe the delay is simply to prevent catastrophe from happening today instead of tomorrow. no politician wants to be blamed for the worst. If Obama was smart he would throw the election in 2012...

[argentummolonlabe]

I would say a controled collapse is their goal. If the country is shocked into a default, too many people would be forced to wake up. There are probably other things tptb need to happen in their timeline as well. The middle east I see as the war machine continuing with their empire. Looking for more war. My two cents....great videos!

[matahaari]

I don't know... maybe a global restructuring is in the works, possibly a collaboration between western officials and financial interests who want to maintain dominance. Maybe conditions aren’t chaotic enough yet to implement. The US military may play a mercenary role because that's about the only leverage the US has. Whatever... raising the debt ceiling seems like a delay tactic.

[pardonwhat]

There is likely multiple national defence strategies that are colluding to deal with the crisis but there is no grand scheme other than to avoid total collapse. They don't know what to do and the only action is to prop using the only mechanism available. In the absence of any solution the collapse will likely start in the foreign exchange markets some day.

Easy options will probably be taken despite the existence of any conspicuous future folly.

Hobsons choice!

[dreamstorm]

The speculative comments beneath me are coming from very intelligent "out-of-the-box"-thinking people. Phenomenal reasoning in trying to figure out what ulterior motive the US government has in continuing to kick the can down the road. Keep the discussion up!

[ccharlie100]

They need a crisis. They need a BIG crisis, one big enough that the people will support unlimited executive action, which of course will be marshal law. They cant do it with emediate action, it has to be built like a bubble, slowly, so that enough people get acclimatised to the idea that the crisis that followed was unavoidable. Here in the UK we have The Civil Contingencies Act 2004. It is sitting there waiting to explode like an anti-libery time bomb, but they still need the excuse to use it.

[Deadwill720]

i think the only reason they are taking there sweet time devaluing the dollar is so that we become poor at a slow and steady pace, kinda like boiling a frog you cant just throw the frog in boiling water it would jump out, but if you put it in cool water then turn up the heat, he would pass out and yum frog legs. but we the people are the frogs, in this case once we are totally broke we turn on our neighbors because most of the people will not know what the real cause of these problems are.

[1x93cm]

they have to raise the cieling

the thing is- in their mind the only other alternative is WW3 once our creditors finally say fcuk you which they're doing right now- perilous times indeed

[Myrmecia]

@1x93cm - "the only other alternative is WW3" It is indeed fortunate that military strategy is not left to YouTube pundits who think the only alternative to perfect peace is conventional war, Hollywood WW2 style. Of course there are alternatives!

[1x93cm]

@Myrmecia if you read what i wrote you'd see I'm not advocating that

i said " in THEIR mind, the only other alternative to default is WW3"

which, i think is quite accurate when you look at THEIR actions

[Myrmecia]

@1x93cm "in THEIR mind, the only other alternative to default is WW3" Could be. But even "THEY" need food, clothing, fresh air, water, environmental services and a host of servants, businesses, suppliers, entertainers, tradesmen and other non-elite to survive. They are not going off to another planet. I think they are greedy and selfish, but not (all) plain dumb. WW3 would likely be about serious destruction within mainland US - maybe even the Hamptons.

[1x93cm]

@Myrmecia have you checked the news lately- alot of the ex bush officials and even some ex Obama staff are leaving the country for their estates in S. America and elsewhere- not just gov't officials but also the ex CEOs of fortune 500s

[Myrmecia]

@1x93cm "alot of the ex bush officials and even some ex Obama staff are leaving the country for their estates in S. America". I missed that news. I recall GWB bought about 100,000 acres in Paraguay while still president, but didn't realize it was part of a wider movement. I hope someone is tracking this and putting up the retreat locations on the web. They think they are leaving the suckers to stew, but I reckon a few Americans might just pay them a visit if TSHTF.

[nonsquid]

Right now we are exporting our inflation to China as they peg their Yuan to our Dollar. Our inflation is being exported to any nation that tries to depreciate their currency faster than we are. Look at the inflation for food in Japan and Europe. It is brilliant if you think about how we outsource our inflation. As soon as China decides to stop buying foreign reserves and appreciate their Yuan, our days are numbered.

[1x93cm]

@nonsquid and that is when WW3 will begin

[johnwilsonriley]

Biometric Scanners at airports! There going into Govt building, and reports of mobile Scanners are out! Once they Scan you, they can ID and track you with Cameras and Sensors. This technology exists and is in use, but we're not yet Data based, thus the war on terror, and Scanners to "Protect us"? Biometrics are the key to a cashless world! Cash control equals total control! They're buying time to get a control grid in to thwart any chance of resisting their plans for our and our families Future!

[veritasfiles]

... the real problem is our structural issues with regard to Medicare, Medicaid, Social Security, and presumably the new Obamacare plan. And of course, the underlying problem that won't go away is our having moved from productivity based savings & savings based capitalization to a debt-based model that requires exponential growth in a finite resource environment. These problems are fundamental have MUCH MUCH MUCH more to do with our insolvency issue than any wars that we may or may not fight.

[Myrmecia]

@veritasfiles - "... the real problem is our structural issues ..." I agree.

[veritasfiles]

I have one substantial disagreement. Let's just stipulate that the wars are entirely bad, for the sake of this argument. Ending those wars would do ALMOST NOTHING to get us out of insolvency. The 150 to 250 billion we borrow to spend on the wars is a substantial sum, but we are running a 1.3+ TRILLION deficit each year. It's so tiresome listening to people talk about ending the wars, as if that's much more than a drop in the bucket. The cost of the wars is a major problem, but... CONT'D

[ellorybockting]

What do I think? Honestly, I wish I knew, I think the pieces that are moving now are moving in places we can't see. Or at least I can't see them. To be totally upfront, I almost think that even the banksters are having some second thoughts. As if to say, "oh crap.... this is it" Cuz this could lead to exposing them completely. But that's probably just hopeful thinking on my part.

[xchainlinkx]

they are just stalling...they know its inevitable and they know they are figured out. its just a matter of time before the house of cards falls and people start raiding their own billion dollar mansions which they lynched the resources from the common people.

However, this will keep happening again and again until we change society to prevent people from wanting to take over resources as such...

[NovusChaoMundi]

There's a bigger crises ahead, gasoline disruptions, peak oil and an oil induced inflationary environment like the one we had in the 70s but worse.

[whiskerchild]

@carp60rd

I agree, or they would've shut down the internet ages ago.

[Kblues80]

Many great points....one last Swooping vacuum suck of all the wealth, food, etc… and then they shut the doors.

[Travinyle1]

going according to plan

[dmhappy2777]

"To protect from all enemy's Foreign and Domestic" I think there are some Domestic power's that are working for some Foreign enemy's ....If your a cop or a Judge or a DA or any of you elected Officials that swore an Oath to protect this Country Your either in on it..Which makes you a traitor or your willfully blind because of your pay check which makes you a whore traitor...Because there is no doubt that a Major Crime is being perpetrated right before our very eyes!!!!!

[556Triggerman]

They are kicking the can down the road...Nero fiddled while Rome burned....The only way for them to get and stay in power is to pander to a base that demands special kick backs...That is all it is...Everyone in the country can see many ways to solve the problems we have...Yet, it eludes the politicians.

[bentontruth]

Anyone in USA looking for a little known unique way of re directing their currency to acquire real assets like long term storage food, air to water filtration systems, silver and gold? Give me a shout, I got something for you

[centervilletn]

Geithner is using hte same ole scare bullshit paulson used...THE SKY IS FALLING!!!!..i say let if alll

[BIGBKELtheGOD]

@ramonetukes

"i believe they are trting to get their underground cities ready..."

Who is to say that these bastards don't already have them waiting beneath our feet now!

[BIGBKELtheGOD]

You have raised an excellent question.

My answer is that they are delaying a Global Revolution. Not a National but International catastrophe that would make any riot that we have ever seen look like a a kindergarten class running around during recess!

[arcanekrusader]

They will kick the can until after the next pres election

[joegore1]

I think all this has to do with peak oil. We are keeping our tap in the middle east as the supplies start getting short. Could be we are trying to arrange the collapse to happen all over the world so that no area has an advantage over the rest. Any way you look at it, we are toast.

[btigtime2]

Ummm they can not pay off the debt... Our money represents debt.. so the supply of money is increased when the debt is increased... so inorder to inflate, the debt must always go up

[ABGrhino]

We have never left a country we were in. Even the CIA and some military are still in Vietnam. It is pure and simple, CONTROL. Its always about control. If they focused on lowering gas prices . just that alone would reverse the economy, but their true goals is to control us.

[WulfBand]

Think about this, how can a business or govt take out any debt when they are in Bankruptcy ? YOU CAN'T, it's all a Massive FRAUD being pushed onto the US citizen who is then expected to pay back all this debt that is being acquired ILLEGALLY.

This has to be the Biggest Govt Mafia Robbery perpetrated against a country in the history of mankind and all the US citizen are asleep and most of the ones who are awake don't give a shit if they get screwed anyway.

[WulfBand]

According to the Library of Congress if you read the 1933 Bankruptcy Act we have no Govt. It was ABOLISHED & every branch associated with it. The Trustees for the Receivership were the UN that didn't even exist until 12 years later and the IMF.

This included abolishing the position of the Sec of the Treasury.

I SMELL A RAT, our govt exists in NAME ONLY, after that it doesn't matter what our govt does because it's not lawful anyway & their ALL Puppets for the IMF & the Queen who owns the IMF.

[10iggi01]

if ignorance is bliss then let me be miserable.

[docsimonson]

I think the likely reason for delaying defaulting on loans is to give the elite more time to prepare themselves and their loved ones for the coming disaster. What does that look like? Stockpiling wealth, certainly, and maybe even finding a new country to call home. I know that if I were directly involved in destroying this country, I wouldn't want to be around when it fell.

[wisewolfe]

@docsimonson interesting answer. i think a delay actually delays a revolution. a default would send bonds cratering and along with it the remaining "wealth" of the american people. if the bonds are worhless so is the currency and opec nations will have a hard time justifying exchanging there valuable resource for worthless green pieces of paper. and once that link between the dollar and oil (petrodollar) is severed all the inflation we've exported to other countries returns home to america.

[docsimonson]

@wisewolfe Here's the scary thing. Many of the elites are buying metals. I don't know about other commodities. Gold, silver and platinum will translate into any other currency very easily. If a global currency is established, they could easily trade their holdings in commodities for that currency. They probably wouldn't even have to do that. All they would need is the knowledge that the currency was about to go live. They are the first in line, when the dollar is worthless it opens to the public

[JP5466]

The Tuscon shooter should have taken Turbo Timmy out instead. The US people would've threw a party.

[whitemike7]

@JP5466 True, "I used Turbo tax software"-Geithner. Funny how some people get a job that controls the I.R.S.

[magichandpuppet]

Peak Oil. Everything in our current economy depends on oil and the dollar's reserve status, including the existing power structure of the powers that be. Any backup plans which might exist must be very, very ugly for most of us. Perhaps their "Plan A" is to hope for a miracle and pretend everything is fine until they can't anymore. War is a convenient next strategy as it gives them excuses for the forthcoming mess that is unavoidable. It also gives them direct access to the "enemy's" oil.

[SleestaksRule]

I love the message but you sound on speed or limited time?

[StormCloudsGathering]

@SleestaksRule - I have a 6 month old daughter. So... limited time.

[WOLF333999]

@StormCloudsGathering: No time to lose. Default now before she'll consume all your resources.

[philosopherking1776]

@StormCloudsGathering I have the answer you are seeking. We are delaying insolvency at least long enough to destabilize the middle east through riots, wars, etc, which will allow oil prices to skyrocket to an astronomical amount, then start pumping our oil, not to mention by getting us involved in a war, it will displace much of the blame which should have been directed at our politicians. Finally, it allows the banks time to divert much of the wealth into the commodities market. My 2 cents.

[MrNukinFutz]

I think they honestly do not know what to do, so better to keep things running while they make preparations??? Maybe getting ready to have military ready to be mobilized here in the US? Maybe FEMA camps who knows...

[collapseprep101]

p.s. let us hope the world will forgive our arrogance, We the People will pay a much higher price than we are paying now for our hubris. The ark of the universe is long, but tends to lean toward justice, MLK

[collapseprep101]

they know that an outright default would confirm the idea that government cannot solve the woes of there voting block, and would confirm the ideas and justifications behind the Constitution, as for the middle east, pure evil, better to take from those who cannot defend themselves then admit to the American people they may have to trade there hummers in for a prius. It will be over soon . The world & american people are turning against this pitiful joke of a government. 1 minute till midnight

[Richlz28]

I believe they are setting us up for another War.

[jschue58]

There are major earth changes upon us and greater ones ahead. They want to keep the economy going until major earth changes come to America. Look at the flooding in Australia and Brazil. Australia, contrary to the news is because of land rising off of its eastern coast.

[yaplonglong]

14 Trillion into 100 million functioning, working Americans. i.e $140K/ working American.

It does not include County, Muni, State, corporate, undisclosed (Toxic wastes), personal debts, .... the number is probably 5 to 6 times larger. There is no way US can pay back even at $140K per working American - unless you tax them to death. The present Government just kicks the can down the road so the next gov will pick up the hot potato. Or - if they let the truth out - US will be in total bedlum.

[TABOOVSKNOWLEDGE]

It's plain to see that they are purposely wrecking the global economy!

It's just the next bunch of tyrants trying to rule the world!

[erin7375]

I think they are only putting off the inevitable because they haven't managed to get us to a point yet where we are starving and too oppressed to fight back.

[Twitchy229]

Buy time = getting the last drop of cheap oil from Middle East. After the last cheap barrel has been delivered to Galveston, TX then troops can come home.