Rep. Garamendi: 'President... use the Constitution'

Representative John Garamendi (D-CA) joins the show. Rep. Garamendi is advocating for the "Constitutional option" as a fail-safe backup plan on the debt limit if the political game of chess we're seeing fails to raise the debt ceiling.

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[ytgv3fc7]

@Redfingers there are 3 ways to default and hyperinflation is one of them.

ht tp://youtu.be/AZUZ0kTiOF0?t=7m­34s

USA is 100% tapped on revenue now.

[ytgv3fc7]

@Redfingers

ht tp://youtu.b e/AZUZ0kTiOF0?t=6m10s

now India is trading GOLD FOR OIL with Iran.

4 months later and the US dollar is on its way out in global trade. Russia, India, China, all making deals for global trade with no US dollars allowed/accepted.

The USA is in bigger danger now of default than EVER before.

Gold has no bubble. Gold is immune to bubbles. Only soft assets can be a bubble. HARD assets are simply the only value that ever existed.

PAPER has bubbles. GOLD can't.

[ytgv3fc7]

@Redfingers Technically that's precisely a default. Failure to pay is default. Hyperinflation is failure to pay. And you're completely tapped for revenue. Flat out broke. We're talking TENS OF TRILLIONS not little tiny billions. The USA is in total danger of default. It's mathematically impossible to avoid it. A non-default requires NO HYPERINFLATION and BILLS PAID IN FULL. This can't be done. Carved in stone fact, as good as done.

[Redfingers]

@ytgv3fc7

That is technically not a default.

The United States has a printing press to the world reserve currency. That's in addition to the fact that we are no where near tapped as far as revenue is concerned. Tax breaks are being handed out to multi billion dollar corporations like candy, and if you remember correctly, Congress just extended the Bush era tax cuts.

The idea that the United States was in danger of default was complete and utter bullshit, political theatre.

[ytgv3fc7]

@Redfingers That is a default, it's called hyperinflation. The printing won't work because the currency will be vaporized as it's used to pay those debts. The debt won't even get paid so that's why it's a default. It's nonsense to say hyper-printing is not default. It is default.

[Redfingers]

@ytgv3fc7

That's not a default, that's called inflation. And yes, it is a serious issue.

[ytgv3fc7]

@chiefkyle1 good luck. So far I have on good recommendation: Brazil, Norway, Germany, Australia and so far I'm seeing things are OK enough to stay in Canada (pending the Fukushima global fall-out for the Northern Hemisphere, so we'll see). People are already escaping with their cash & freedom & saying how happy they are about it (stormcloudsgathering, msungs, slobomotion, quite a few more if you ask around)

[ytgv3fc7]

@Redfingers Smart people know there will be a default and it will be called money-printing. As the new dollars are issued the currency will collapse before the debts are paid, leaving those with gold rich & those with dollars absolutely dirt poor.

[ytgv3fc7]

"pool the pension funds, both public and private"

DID YA CATCH THAT?

Private retirement pensions, with no permission for the money to be confiscated, would be confiscated to spend as the government wants and then be called "infrastructure". It will just go to pay interest to China.

You heard it word for word. Ditch all your retirement cash, get it in gold & bury it. Use goldmoney.c om/related to store gold OVERSEAS and IMMIGRATE NOW.

Time to run from1936 Nazi Germany aka USSA. Run, rabbit, RUN

[ytgv3fc7]

@chiefkyle1 There's an easy way to ensure your children's children's children are not on the hook for the debt. Emigrate, give up US citizenship now.