Three cheers for United States of America for hitting a new milestone

dkami

Sergeant
Messages
746
Quote "If you haven’t heard yet, the United States of America just hit $16 trillion in debt yesterday. On a gross, nominal basis, this makes the US, by far, the greatest debtor in the history of the world.

It took the United States government over 200 years to accumulate its first trillion dollars of debt. It took only 286 days to accumulate the most recent trillion dollars of debt. 200 years vs. 286 days. This portends two key points:

1. Anyone who thinks that inflation doesn’t exist is a complete idiot;
2. To say that the trend is unsustainable is a massive understatement.

At an average interest rate of 2.130%, Uncle Sam will shuffle $340 billion out the door just in interest payments this year… and it’s a number that’s only going up. To put it in context, China owns so much US debt that the INTEREST INCOME they receive from the Treasury Department is nearly enough to fund their entire military budget."

Read full story here Some clear thinking on the debt

And if you are thinking hell I'll just buy up physical gold or other metal you might want to read How bankrupt governments will confiscate your gold here How bankrupt governments will confiscate your gold

So if you got a bit of time waiting for your next setup like I currently am waiting for AUD to hit a bottom so I can load up again This is a great site with a lot of articles and may interest you Sovereign Man: Offshore Business, Global Opportunities, Freedom and Expat News
 

Pharaoh

Colonel
Messages
19,717
A couple of the other debt clocks out there, like at U.S. National Debt Clock : Real Time, that show we still have a week or two to go.

Overall, it's still horrifying news.

Yes, governments may try to confiscate gold and silver, but their success rate will be limited. Buy it in small quantities and don't keep it all in one place. These two articles should help with that and other issues tied into the Euro and Dollar financial meltdowns:

http://www.forexpeacearmy.com/forex-forum/forex-basics-boot-camp/3033-wealth-protection.html

http://www.forexpeacearmy.com/forex-forum/forex-basics-boot-camp/17128-wealth-protection-ii.html
 

dkami

Sergeant
Messages
746
Yes horrifying alright and the saddest thing is I don't think the country's that have these massive debts can or will ever pay it back,they would rather go bankrupt or go to war than pay their bills!

It's a shame Felix deleted that thread he did a while back(cant remember what it was called now but everyone that read it would know what I'm talking about) as so many parts ringed so true

Thanks for the links of your older threads Pharaoh I found they have some good advice and was a good read
 

FringFX

Sergeant
Messages
391
interesting links. I will definitely view them, thanks.

indeed, there is unprecedented uncertainty out there, it's beyond comprehension.
they are keeping it afloat, but the questions are for how long and what happens next??
 

pbernasc

Private
Messages
15
Feel a bit political ... not that any of what you say is wrong ... well. some is, but I won't enter the discussion because I know it's not objective anyway, just I do not appreciate unsolicited politics in my incoming emails. Watch out how you use your mailing list, this is election year and rhetoric is ok on openly politically biased websites, not on this one.
take it easy
 

FreddyFX

Sergeant
Messages
359
Governments will find more ways to close down banks and steal the savings of the various people there.
It happened to me in the past, it will happen to others in the future.
Just having the SEC do a probe will shut down a banks operation for good, as panic sets in and people will try to get their savings out ASAP!!
 

Leticia

Private, 1st Class
Messages
39
Like it or not, money and politics -- cant separate the two. We all need to get involved and make our voices heard any way we can. Vote for the candidate who has proven himself ultra successful with money/business.
 

ajisukarna

Recruit
Messages
5
edit

this opinion really made ​​me realize the meaning of real gold as a medium of exchange. as long as these people think that money is a medium of exchange and to keep the history of bank and money
 
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nzkiwi

Recruit
Messages
2
The USD is not the only currency around. Sometimes I live in Thailand(one of the advantages of being a Forex trader) and I am sure the Thai baht will still buy everything I want even if the USD becomes so much toilet paper. The same goes for the Ringit and even the Rupee or Rupiah. Relax and enjoy being in the best profession in the world. :cool:
 
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