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What would happen
MVP
Member Posts: 23,453 ✭✭✭
I am no financial wizard and far from even a checkbook balancer, but what would happen if the US just told their debtors that we do not plan on paying anything? What could they do? kick America out of the world order club?
Comments
Still have a treaty or mutual defense but just pull out all our forces.
They would say that the boys were good and the paper gave them the idea. Then Obumer would say that he would be proud to have him for a son. Then the owners would go to jail for killing an upstanding person and not waiting 30 minuets for the police to get there.[xx(]
I am no financial wizard and far from even a checkbook balancer, but what would happen if the US just told their debtors that we do not plan on paying anything? What could they do? kick America out of the world order club?
The current federal budget relies on borrowing about 42 cents out of every dollar being spent. Obumnuts proposed budget for next year calls for borrowing 44 cents out of every dollar spent. If the Federal government defaulted on its debt, where would it get the 44 cents out of every dollar it expects to spend?
If you were managing your own personal expenses by borrowing 44 cents out of every dollar you spend, and you decide to stiff the credit card company, what do you think would happen?
to this point our word on things has always been our bond, no matter what other countries may do.I would like to think we would continue as such. Are you perhaps French?
Born and raised in the USA[:)]
quote:Originally posted by MVP
I am no financial wizard and far from even a checkbook balancer, but what would happen if the US just told their debtors that we do not plan on paying anything? What could they do? kick America out of the world order club?
The current federal budget relies on borrowing about 42 cents out of every dollar being spent. Obumnuts proposed budget for next year calls for borrowing 44 cents out of every dollar spent. If the Federal government defaulted on its debt, where would it get the 44 cents out of every dollar it expects to spend?
If you were managing your own personal expenses by borrowing 44 cents out of every dollar you spend, and you decide to stiff the credit card company, what do you think would happen?
That is beyond my comprehension. Other than my home mortgage, I don't owe a dime to anyone and never have. I've always paid cash... even when I was homeless.
I am no financial wizard and far from even a checkbook balancer, but what would happen if the US just told their debtors that we do not plan on paying anything? What could they do? kick America out of the world order club?
quote:Originally posted by MVP
Makes sense Mark. I worry about my investments vanishing into thin air. I have another 20 years until I retire.
If you think you don't fully understand it, let me tell you how poor my comprehension is. I still don't understand why the relationship between the Federal Reserve and the United States isn't criminal activity.
Worrying about your money vanishing into thin air might not be so unreasonable, since that's where it came from.
Many years ago money was made of precious metals, mostly gold or silver, and was worth its weight. Then for convenience we changed to paper money backed by precious metals, worth what the note said it was worth. Then for reasons no shared with me, we changed to paper money backed by the faith and credit of the United States.
The way I understand it, now when the United States needs more money they go to the Federal Reserve and ask for a few billion, or now a few trillion. The Federal Reserve can't just print money, they have to have something to back it up. The United States cuts a check in the amount of money they want printed. The Federal Reserve prints the money which becomes part of the debt and trades it for the check. Now the Fed has a check to back up the printed money. What backs up the check? Well, the printed money of course.
WAR.
Some exuse would be found for making America to be something evil and an invasion would result probably by China who is the new emerging superpower. And no superpower exists unless at the pleasure of the banksters.
But this will never happen because voters are too dubm to vote in anyone who would address the real problem.
Our future is poverty and slavery.
Advanced Member
Equatorial Guinea
18313 Posts
Posted - 02/27/2011 : 3:46:34 PM Show Profile Email Poster Reply with Quote
I am no financial wizard and far from even a checkbook balancer, but what would happen if the US just told their debtors that we do not plan on paying anything? What could they do? kick America out of the world order club?
Since they own more of our building then we do they'd probably kick us out of our own country.
what would happen if the US just told their debtors that we do not plan on paying anything? What could they do? kick America out of the world order club?
Well, the USA's credit worthiness would instantly go to zero, and before too long, the dollar would essentially become worthless.
Needless to say, this wouldn't really be good for anyone.
EG: Got money in the bank? Not anymore you don't!