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

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

  1. Pharaoh

    Pharaoh Colonel

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    This issue transcends election year politics. The national debt keeps expanding under each administration. The rate varies a bit, but overall, it's faster and faster no matter which party is sitting in the Oval Office or controlling one or both houses of Congress.

    It comes down to the basic problem that politicians figured out that they can keep voters happy by spending more than is collected in tax revenues. It won't matter who wins which election when the interest payments on the debt become too great. Both parties blame the other, but they've marched hand in hand throughout decades building this debt and passing it on.

    The final consequences of this policy of borrowing and spending could easily make the Great Depression seem like a small inconvenience.
     
  2. eme ogbonnaya ogba

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    So who do we follow now with these alarming realities staring up in ones face. Euro, Us , Uk or buy prcious metals. All seem to suck....
     
  3. Pharaoh

    Pharaoh Colonel

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    I'll stick to diversifying currency holdings and grabbing more physical metals.

    Paper metal (contracts, efts) is like paper money - a default on the value is always possible. Get the real thing and hide it well - just not so well that you can't find it again. :p
     
  4. irongoose

    irongoose Private, 1st Class

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    Look up a movie on the net titled the secret of oz.
     
  5. Pharaoh

    Pharaoh Colonel

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    I'm still working my way through that first movie link. Interesting info, but I wish they had a shorter version.

    Oh, as long as people are stocking up on gold and silver, grab some extra non-perishable food too. That's covered in my Wealth Protection articles. Even if the economy never fails, other natural catastrophes can make a can of food temporarily be worth its weight in gold. Ask anyone who has ever been through a bad hurricane.
     
  6. bobspez

    bobspez Recruit

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    There's all sorts of doomsday scenarios that are possible...even worse than the debt. For example, in the mid 1800's there were massive solar flares that melted telegraph wires in the U.S. We are expected to get these types of flares again sometime in the next hundred years. Flares of the same magnitude that melted telegraph wires would basically wipe out all unshielded computer chips, which would disable nearly everything .... electricity, water, cars, and wipe out all electronic currency, banking, all industry, communications, all government services. It would be Mad Max time. The only medium of exchange would be force. In time, roving bands will kill you for your food and water unless you are living in some invisible hiding place.
    Currently, even in spite of this knowledge, the majority of personal and business computers and all the mechanical devices with embedded computer components (all electronics, almost all machinery) are not shielded. The debt is small potatoes in comparison.
    In the absence of some natural disaster like killer solar flares, regardless of the debt, the government cannot allow safeguards like FDIC, and Social Security to fail, because if they do fail, then society goes up like a burning city during a blackout. At that point it's every man for himself, and currency of any kind is basically worthless.


     
  7. gagolek

    gagolek Private, 1st Class

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    does anybody here knows what part of this debt belongs to china?:confused:
     
  8. Pharaoh

    Pharaoh Colonel

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    That's it. Less than an hour ago, usdebtclock.org rolled over the $16 billion mark.

    Should we throw a party or just skip straight to the violently ill hangover?

    As for who holds the debt, there's some info here:

    United States public debt - Wikipedia, the free encyclopedia

    Also, remember that through the magic of printing money, the US government can use that printed money to buy more debt.
     
  9. FringFX

    FringFX Sergeant

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    regardless if it's election year and whoever is the president, if the debt keeps ticking up, you will surely notice it. how can you deny or ignore billions of debt? debt is never a good thing; a lot of people, accountable and innocent, suffer from it.
     
  10. FringFX

    FringFX Sergeant

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    you seem to be rooting for somebody in particular.
    the downside to choosing a businessman to run the country is, well...... he may treat the country as a gigantic business enterprise. holding power over many institutions is going to be bad for the people, specially if the businessman president is always after maximizing his profits.

    a country needs a president who is for the people, not for profits. i am not sure if most countries can claim that their ruler is really for the people.
     

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