1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

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

Discussion in 'General Forex Talk' started by dkami, Aug 30, 2012.

  1. dkami

    dkami Sergeant

    Joined:
    Apr 13, 2010
    Messages:
    744
    Likes Received:
    32
    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
     
  2. Pharaoh

    Pharaoh Colonel

    Joined:
    Oct 3, 2007
    Messages:
    19,668
    Likes Received:
    2,206
    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
     
  3. dkami

    dkami Sergeant

    Joined:
    Apr 13, 2010
    Messages:
    744
    Likes Received:
    32
    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
     
  4. FringFX

    FringFX Sergeant

    Joined:
    Jul 18, 2012
    Messages:
    391
    Likes Received:
    1
    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??
     
  5. irongoose

    irongoose Private, 1st Class

    Joined:
    Mar 26, 2012
    Messages:
    67
    Likes Received:
    0
    #5 irongoose, Sep 2, 2012
    Last edited: Sep 3, 2012
  6. pbernasc

    pbernasc Private

    Joined:
    Oct 12, 2007
    Messages:
    15
    Likes Received:
    0
    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
     
  7. FreddyFX

    FreddyFX Sergeant

    Joined:
    Oct 3, 2007
    Messages:
    338
    Likes Received:
    127
    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!!
     
  8. Leticia

    Leticia Private, 1st Class

    Joined:
    Oct 20, 2010
    Messages:
    39
    Likes Received:
    6
    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.
     
  9. ajisukarna

    ajisukarna Recruit

    Joined:
    Jul 1, 2012
    Messages:
    6
    Likes Received:
    0
    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
     
    #9 ajisukarna, Sep 3, 2012
    Last edited: Sep 3, 2012
  10. nzkiwi

    nzkiwi Recruit

    Joined:
    Aug 6, 2012
    Messages:
    2
    Likes Received:
    0
    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:
     

Share This Page