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For Those Utterly Baffled By The Happenings In Washington, A Primer In Under 140 Characters
All you need to know in one tweet.
The House CR & DL bill is dead. The Senate CR & DL bill is not written. What was murky is now opaque. #CrunchTime
— Major Garrett (@MajorCBS) October 15, 2013
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Doesn't matter, the exponential function says we are fucked.
http://en.wikipedia.org/wiki/File:Exp.svg
The next doubling of debt is the end and we are now engaged in the debate... When the data line collapses the SHTF.
Although that is true.
There is always the option to abandon the exponential monetary system and go back to a less elastic currency.
This would stop the exponential growth from spiraling out of control towards escape velocity.
That being said, its almost guarenteed that we will not abandon FIAT anytime soon, the bankster class plan to ride this dead horse off a cliff, because they have nothing to lose from doing so.... they are already positioned with real-estate, gold and other real - assets , they plan on sacrificing mainstreet on the monetary alter for their own gains (power and money).
We are indeed fucked by the exponential function, if not sooner, than just a bit later....
https://www.youtube.com/watch?v=x5m1A7zoIcc
Fabulous news.
KEEP IT SHUT DOWN!!!
I couldn't believe my ears today on the ride home from work. Hannity actually floated the idea of a 3rd party because he said both parties were essentially the same. Fucking bizarro world.
The EO/Emergency Powers unilateral by POTUS draws nearer.
Followed by an impeachment. I look forward to it.
ES & NQ are rallying into the AH Close. NQ near all-time high.
I guess everything is fixed
JLee- no president has been removed from office through impeachment. Even if they did impeach him (which they won't), to what effect?
Nixon resigned when shown Congress "had the votes" to remove him.
If memory serves, the House impeaches, then the Senate votes on the penalty (Clinton). I would suspect if Obama is impeached by the House for seizing power as a dictator, and the Senate failed to remove him, then the People would remove him by force. Or so as Ben Franklin advised for "obnoxious" executives and assinate him.
“It’s very, very serious,” warned Senator John McCain, Republican of Arizona. “Republicans have to understand we have lost this battle, as I predicted weeks ago, that we would not be able to win because we were demanding something that was not achievable.”
This is a man who never saw Galaxy Quest: "Never give up, Never Surrender!"
Impeachment? Hilarious. Let's just skip the kabuki and get to the main act. If the Little Dicktator wants to go that route then he better be prepared to kill a lot of civilians...and as the latter will erase all doubts more will rally against him and his Praetorians.
Followed by a revolution.
Then, ironically, the addition of a third party would give us a two party system........
+1
But this new, opposing party, is serious.
not so... they have been planning some sort of global fiat gimmick for a long time. the collapse of the dollar will the problem that forces the sheeple to accept their next scam... or so the plan. problem-reaction-solution.
Murky...looks like cum to me....
I'm waiting for the O to tell me ... "dont move I'll get you a towel."
And what the banksters will do (which has been talked about since 2007) is buy assets for penny (not pennies) on the dollar that will be sold when deflation hits and hits hard. We will have both inflation and deflation, inflation of food and fuel and gold, and deflation of realestate.
There's still the little problem of actual physical resources. Especially oil. Perhaps if we had been on a sound money system for the past 100 years, we would have already adjusted our ways to deal with very expensive oil, but people aren't even talking about what oil going to $200+/bbl would do. And what would happen to our oil prices if the USD suddenly lost its reserve currency status? What would happen to the amount of oil that we are able to import? IMO, it would be very bad, because we haven't taken steps to deal with what happens when the US no longer gets cheap oil. The number of things that depend on oil are mind boggling. What is truly frightening is just how dependent our food production, distribution and storage is on cheap oil. The last figure that I saw was that, in North America, we put 400 gallons of oil towards producing and distributing food per person per year. That's 126 billion gallons, or 3 billion bbl per year for the US. That is a very significant chunk of US oil consumption, assuming the 400 gallons figure is actually correct, as I could not verify it to my satisfaction. I do know that even if that figure is wrong, the oil used for food production and distribution is still a very significant chunk of what we consume. Big enough that an oil shock would be a major fucking ordeal in a country with 47 million on food stamps.
Sound money may have prevented us from getting to where we are now, but it will not get us out this shitfest. There has been entirely too much misallocation over the decades.
No surprise here ... Go Obama!
I'll make it even simpler & shorter:
Kabuki Theater - follow the money in the corrupt to the core KronyCorpocracy USSA & wait for "last minute taxpayer raping."
Doesn't matter, they never read what they vote on anyways.
Nancy Pelosi's Rule # 3 of Governing: "Pass legislation in order to discover what it does/means."
Boehner needs to pass a bill entitled: "The 2013 Republicans Quit and Democrats Get Everything They Ever Wanted Omnibus Government Funding Act."
Buried deep within its 36,679 pages would be provisions defunding Obamacare, dissolving the Fed, firing 1/2 of all federal employees, and cutting taxes back to a flat rate of 5% across the board.
It would easily pass since Pelosi wouldn't read past the title until it was too late...
Legislation at it's finest!
Great idea. I'm passing this along to my Republican congressman. He's an asshole, but what the hell. Congress is just one big shit-filled intestine, so maybe this bill would be just the laxative the country needs.
I would encode it, in the event that they "glance" at it:
"efundingday Obamacareway, issolvingday ethay edFay, iringfay 1/2 ofway allway ederalfay employeesway, andway uttingcay axestay ackbay otay away atflay ateray ofway 5% acrossway ethay oardbay. "
Nancy was misquoted. She really said, "Pass gas in order to discover what it does/means."
140 char chunks of this is about as much as I can take at any point.
6 minutes later...Major Garrett @MajorCBS 3m
From @SenatorReid spox: "Sen. Reid & Sen. McConnell have re-engaged in negotiations & are optimistic that an agreement is w/in reach."
And this is what, their 4th agreement or so? But it won't pass the House....and that is the key.
Everyone overlooks that the Senate represents the States and the House the People of the United States. Who gives a damn what the States want?
Somewhere over the rainbow
Way up high
There's a land that I heard of once in a lullaby
Somewhere over the rainbow
Skies are blue
And the dreams that you dare to dream really do come true
aaaaahhhh....KABUKI!
*can you hand me that kleenex box bro?*
Definitely time to wake up the Gimp. He'll know what to do.
If only we had some really smart non-gentiles at the Fed, we wouldn't be having these problems. Oh, wait....
Good. Good.
Cloudy...
With Meatballs 2
125 bil QE next month. Gold down 10% from here. Treasuries rally.
Let's make it 150 B and gold down 25%, just for fun.
The US government is at war with the American people.
NO. 1 stompy little feet is at war with America.
He wants socialist authoritarianism.
We want our Constitution.
Well of course there's no votes... the GOP bill is total surrender to the democrats.
There was a scenario floating around... pass the GOP house bill then GO HOME TILL THE DEMOCRATS IN THE SENATE PASS IT.
DO IT. DOOOOOOOOOOOOOOO IT. Fuck em, THE HOUSE GOT THE POWER, NOT THE SENATE, NOT OBAMA. DO IT ALREADY.
+1,000
If the past week or two is any indication, this will likely drive gold prices below $1000.
The REAL deadline is not October 17... it's November 1 when food stamps are not given anymore.
I'm going grocery shopping on Halloween or maybe the day before and stocking up with a month's worth of food. If food stamps go dry, the grocery stores are going to literally turn into a warzone for a while.
thats too late !!!!!!!
Yep. Better do a grocery store run NOW...
once again: I'm in an ebt test run state. I got the call and hit the ATM and then went a shoppin' Got my winter stash. I wasn't the only one thinking the same thing. My fellow buds left me ONE BAG OF 20# rice to buy.
(there was still plenty of gallon PB jars).
Well its actually neither, some States begin as early as TODAY, submitting to the Feds, their balance amounts and numbers for the EBT transfers that occur on the 1st of the month. They were notified to STOP that process until further notice!
Which means that in those States that have to wait until say Oct 25th to submit their numbers, it could be a 10 day delay in "benefits" to catch up. So even if this ends in the next ten days, today was the zero date for some!
Could get wild on Nov 1st anyway, as the free shit army might have to wait 5-10 days to get "paid"!!
bullish.. DJIA futures up 42 points
awesome
This clusterfuck has a certain sense of ain't nothing to worry 'bout...so long as not ONE thing goes wrong anywhere, in the least. Throw in a quick, "Chinese officials announce they are growing increasingly concerned over US policy and will therefore liquidate a nominal amount of Treasuries..." and good night Oboy...
Running here on ZH with an Allstate sidebar ad "All the protection you need". Priceless. Almost as good as the Obamacare hotline number. Tyler - are you losing your touch, sold out, too busy, or what?
Don’t any of you remember who signed the Budget Control Act of 2011?
Obama signed it.
That was his opportunity to honor his campaign pledge to only tax the RICH.
His credibility would be much higher if he had Vetoed the tax increases on the non-rich.
In doing so, the president said, "Is this the deal I would have preferred? No. But this compromise does make a serious down payment on the deficit reduction we need, and gives each party a strong incentive to get a balanced plan done before the end of the year."[13]
Harry Reid AND Boehner and many House members signed it, too.
Now they’re trying to protect their ‘jobs’ by assuming we’re clueless sheep.
Fool us twice, shame on US!
Mazzy Star - Into Dust
Hey Harry Reid, just for you fuck nuts.
hahahha, my plan is working to perfection (rustles EO papers). Yes, my pretties, soon America will see what's inside, hahaha!
Reggie! Where is my new Field Marshall's Uniform?
Over by the butt-plugs and gerbil cages, honey. I like the aviator shades!
RELAX
we are golden. there will never be a default. defaults are legally decided by the ISDA. since the ISDA committe deciding if a default occurs is made up of reps from the big 5 banks that write all the swaps (and who have no reserves set aside to pay in the event of a default) there can never be a decision that a default has occurred. Remember Greece? And their sovereign debt was peanuts.
See we're all good, now rest your sweet head and have pretty dreams.
ISDA only renders a decision on default for contracts which specify that ISDA is the final arbitrator of said decision (e.g. listed credit derviatives and most OTC derivatives) - there is no mention of ISDA in US Treasury bond covenants, and the risk issue with US treasuries is far larger than the notional amount of CDS on US Treasuries that could potentially be exposed to repayment risk before the end of the year.
Damn!
Now where did I put that whiskey?!
A whole fucking year to have a budget? They have failed their constitutional mandate and 3/4 of the states should send them packing.
Amend the constitution by removing Article 1 (Congress) and Article 2 (Executive Branch). Send them packing. Let the states figure out something until we can create a better way. Step up governors. We don't need the 12 big states, only 38.
Like a decaying, biodegrading puddle of scum...
Gold should be 150 mliion billion gazillion dollars per ounce.
In 1933, The Banksters believed they would control Adolf Hitler. The result was WW2.
In 2008, The Banksters believed they would control Barry Marshall Soetoro. The result was WW3.
Listen to Levin's opening.
If we have the money, the only way we default is if Barky directs it.
That would be met with an injunction by the Supremes, impeachment if Barky has too many naked pictures of Chief Justice Roberts, or a tete-a-tete with the international bankster mobs.
Burn baby burn!
I'd bet the phrase most repeated this week in those hallowed halls is, "Get my broker on the phone again!"
Just to show you how shitty the bankers are,I read that the '30's depression was prolonged by US capital chasing high yield on German bonds,funding the 3rd Reich and all the weapons programs.But hey,everyone had a job (at Krupp).
Henry Ford was a big admirer of Hitler.Winston Churchill was a big admirer of Mussolini.Churchill was all in favor of freedom and democracy in Europe.Just don't mention India and independence in the same sentence to the fellow.
I am begining to suspect that this is all just an orchestrated show to piss off the other central bankers.
Hey look at us we can push things to the brink and reel it all back.... You poor buggers at the ECB JCB and every other funny money factory would have a shitstorm panic attack if you even let things get just a little bid bad.
naner naner do do...... don't you wish you could do what we do!!!!!
That is all Fiat printing comes down to realy. The last one standing wins. Nothing else matters.
Congress resembles a cricket match on bath-salts....we're fucked.....
Fuck Major Garret who gets more head from BO than RL et al
Fuck Major Garret who gets more head from BO than RL et al