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America Passes $13 Trillion In Debt
Total US debt per today's Daily Treasury Statement was $12,989,095 million. Also today, the US Treasury auctioned off $42 billion in 2 Year debt. This means that as of this moment, assuming the new debt were to settle today, the US has $13,031,095 billion in debt: congratulation America - you have now passed lucky $13 trillion in total debt. But don't worry, we won't stay here for long. At the current rate of issuance, $14 trillion will be passed in 8 months, and $15 trillion in another 7. By the end of 2011, we estimate total US sovereign debt to be about $15.5 trillion. For some recent vivid examples of prosperity courtesy of runaway debt issuance, please see Argentina, Japan and Greece.
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Let's Rip It Up
http://www.youtube.com/watch?v=lrhGtXCGn6M
Thanks for the link. Didn't know what I was missing.
It's too late -- She's Come Undone!
She's come undun
She wanted truth but all she got was lies
Came the time to realize
And it was too late
this debt only proves how rich we are....dow 35000 baby!!
$13 Trillion? Hell, that calls for a martini.
Well, since debt = money doesnt that mean we are now the richest we have ever been?
Where are the hats to commemorate the occasion?
Come on guys , take it easy on ben, he said he was "comfortable" running a 13t debt.
No worries - Congress about to pass another 200 bil to get unemployment benefits thru the elections by Friday - wohoo 30 bond at new low yields - no worries buy everything!
If you have One World Government, would you still have national debt? One world government would maintain a single currency. It would control all rescources and all production. It would allocate those as seen fit.
Since it controls rescources in Africa and production in Asia and markets in Europe it would be a never ending circle of supply/demand. It would loan funds to private enterprises to pay the salaries of those buying the goods.
Items would be priced so workers could eat and slave for the carrot luxury goods.
Other than national debt, how is One World Government different from what we already have?
that certainly seems to be where we are headed, do you think the Chinese and Russians are as willing as we are to give away our soverignty? Europe is already there...Africa has none....South America mostly Euopeanized.....
I don't understand why they don't just print it and pay it off with one round of massive QE and get it over with and set the debt to 0!! And we then hit reboot in congress with a couple of new amendments.
Amendment 1: No branch of Government can control anything having to do with the money supply. No interest rates, no money printing no debt issuance etc.
Amendment 2: No person who receives more than 30 pct of their salary/wealth from the government including private government Cos. can vote.
Amendment 3: Flat tax of lets say 20 pct. Tax code cannot be longer than 2 8 1/2 x 11 pages with size 10 font single side.
I have a few other suggestions including double the sentences for government officials for crimes of the same nature as those committed by private citizens.
And here they come around the bend.
Its garbage USD cabbage by a head,
and here comes more toilet paper currency wiping up the rear.
Ladies and germs- its over, this race has officially gone to shit.
Its not a small world afterall anymore!
There's no debt that can't be paid back with newly printed money.
Print up some $1000 Obama FRNs and we're done!
Default on the Fed and bring back Silver Certificates.
Money doesn't grow on trees. If it did, it would be finite in supply!
USD = Monopoly Money
Check this link
Nial Ferguson on the history of sovereign debt crisies, default, inflation and the bond markets:
http://www.piie.com/events/event_detail.cfm?EventID=152&Media
(kicks off at about the 12min mark)
Thanks for the link.
Fantastic stuff.
And to beat all, Ferguson is a raving Goldbug too!
(See last question of the Q&A vid)
After charting the rothchilde dynasty, anybody would be!
When certain parties are aware of the new financial system implementation, spending will continue. Default is a given.
As long as Sovereign debt is kept under the radar, the game of musical chairs continues. Once 'In Ponzi Scheme we Trust' is discovered at the peasant level, the system will self destruct rapidly. Personally, I don't want this to happen. Why? The new system is far worst. In the present system, certain parties cannot continue to cater on two sets of rules. Allowing immoral, unlawful actions to continue will ultimately bring down the very system that comprises of trust & confidence.
Party Games - July 7, 2008
http://www.youtube.com/watch?v=vRG4ezOdoI0
In closing, we don't have too much time left. Two years max is all you have.
No music links tonight. Have a great evening ZH'ers.
Wow. What an auspicious occasion! This calls for a gift... but what do you get for a government that has everything? (Yet oddly, actually has nothing?)
only 13 trillion, we're good for it.
Get to tha choppa!!!!!!!!!!!!!!!!!!!!!!!!!!!!
http://www.youtube.com/watch?v=l6NXnLv9pj4
I've posted it once, and I'll post it a thousand times for it to sink in....
US Debt To GDP
http://www.marketoracle.co.uk/images/2009/Jan/us-debt-gdp.gif
It is over 350%. This is doom.
There are only two avenues of eventuality. Default and depression, or hyper inflation/stagflation. These conditions, either of them, will lead to societal instabilities.
The talking heads of DC, Wall St, and MSM are you selling you up the river. They are lying. The US is trapped in debt that will not and cannot be paid back, the political machines and government are being held hostage to private interest, and the bottom 90% of the population is being liquidated to the poverty line.
Ready? Spiritually, mentally, physically, politically? Time to ask yourself some tough questions.
+10
+10
Well said.
350%! You are quite the optimist there my friend. If you add up the unfunded entitlement and off balance sheet stuff you're talking more like 800%. Of course, with these kinds of numbers a few hundred percent understatement is not gonna change the end result all that much. There will be much wailing and gnashing of teeth.
it is actually well over 800% once you take into account unfunded liabilities (pensions, medicare, SS, etc etc)
Hey wait a minute, is that a coincidence or do I need to put on a tin foil hat or something?
All we have to do is give 110 percent 28 hours a day and WE WIN!!
I have a single 100 trillion dollar note on my wall (Zim). So, USA has a little way to go yet....
http://maxkeiser.com/
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[KR45] Goldman Sachs, Undeclared Enemy of the State
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http://www.learner.org/resources/series58.html?pop=yes&pid=819#
..
peak oil is gonna be a beeeetch!
peak oil appearing on the beach.
.
http://ac360.blogs.cnn.com/2010/05/25/the-oil-is-on-the-beach/
.
the decision to prioritize capture of spewing oil rather than
terminate spewing oil is increasingly appearing really dumb and
criminal.
epic fail!
live feed tomorrow as BP attempts the "plug" tomorrow.
watch out for a relief rally "if" they succeed.
Its one of the good platform for awareness of people. Keep sharing such stuff in the future too. xbox 360 s