It Dont Look Good

[vern]

http://www.midasletter.com/index.php/u-s-treasury-secretary-admits-u-s-default-is-imminent-11012301/

[CrazyHeart]

I had a strong suspicion that our situation was a bit worse than we were hearing, but this is crazy. I could never imagine.

[hallowedcontactpatch]

Unfortunately, it seems pending doom like this is the only way to get the politicians to make the tough but necessary decisions.

[vern]

If the economy is this bad and the Gooberment devalues the currency to float we are in trouble whether we are in the Canada or the US. If this is true then what we make on the Dinar will be down. No-matter what we make - even eg: $3.00-$5.00 dollars on the Dinar and we take in Canadain or US Funds we wont have enough to put thru a strainer. To me it dont look good. Anything more than what you invested is now a profit and that may come as a surprise if the bottom falls out. Find somewhere to put your money - Without sounding trying to sound stupid but i think anywhere but home is better than losing it all. Where is that i havent the slightest clue- It is bad out there and i have known that for 3 years . To have an economy that is like a strainer is one thing -To have an economy that is now like a 6 foot hole as opposed to a 1 inch rip is not my idea of holding it to gether and the GOVERNMENT better stop lieing to the PEOPLE. --- May GOD Bless you all--We need Divine direction to save what we have - (If my people will follow ME then i will provide) paraphrased--Vern

Edited January 27, 2011 by vern

[dannabo]

Doom and Gloom. Beleive it if you want to but my trust is in the Lord God Yeshua!

And investement is an investement. You know up fron that you could lose. So never invest your rent money

Your grocery money or your car payment,. Pray over every cent before you buy any dinar.

[JLT]

what if they pegged the dinar to oil?

http://iraqimillionaire.blogspot.com/2009/09/crude-peg-for-iraqi-dinar.html

and if the dollar when down in value you could pay off your debt that much easier

Let me know if i'm way off.

[Halo9678]

It's irronic that the most vulnerable, the poorest, will be the first to loose everything. One might say, "They were poor to begin with. They are truly of no consequence". And I would say that ALL life is valuable and that none of us should be made to suffer, directly or indirectly, as a result of the actions of another. This article reads as though Mr. Secretary is holding the people of the United States for ransom. Almost as if a challenge, "You, elected officials, can either let me, Tim 'Please sir, may I have some more' 'Get rich' Geithner, and my BFF, Ben 'Bank-man' Bernanake, print 'MO MONEY, MO MONEY, MO MONEY' or suffer the consquences of not being re-elected for letting your constituents starve, and most likely die, in the streets." "You can either pay now, or pay later but you will pay." Isn't that called extortion? Can't we do something about this? Maybe it's just me but it sounds like the American people are paying for the inept actions of a few who were knowingly responsible for the looming crisis.

How about this... How about we seize every freaking thing these clowns own and liquidate it. We take the proceeds, sans administrative fees and taxes, and pump it into the economy. Meanwhile, the local soup kitchens, day cares, elderly homes can have these philanthropic charlatans and sychophants do the dishes and other menial chores to include but not limited to:

changing sheets, bed pans, helping the elderly shower and perform hygeine tasks

cleaning, sweeping, mopping, dusting, the entire facility

outdoor lawn maintenance to include mowing the lawn, trimming hedges, pulling weeds, prunning, and even planting new seedlings.

perform day care responsibilites as feeding babies and changing diapers (by the way, the strained green peas most likely will come out looking like... strained green peas).

we'll call it "community service" in honor of President Obama's former community organizing endeavors. How's that for trickle down economics. By the way, the local bingo parlor is holding their annual "thunder Chilli" cook off. I hope your health insurance covers stupidity cause that event is gonna be crazy!!!

And if a stint in the "community service circuit" doesn't work, we can always expand their service to local zoos. I'm pretty sure that being pelted by monkey sh*t for a day will get their act together, muchless if they had to do it for a month or two.

[Jim1cor13]

I had a strong suspicion that our situation was a bit worse than we were hearing, but this is crazy. I could never imagine.

Hi Crazyheart

Indeed matters are much worse than anyone wants to imagine, scary too

so the natural thing most do is deny it and try and tell themselves

it will never happen. This is foolishness to approach these matters in this fashion.

This threat is not only real, it is actually "imminent". Federal reserve "easing" cannot

fix our problems. The problems are much bigger now than in 2007 - 2008 when

we were all lied to about the state of affairs. What mortgage crisis? What bank crisis?

People still ask this today who are completely out of touch with reality. They say "this is

America, this cannot happen"....well, the same people said that back in 2007 even Bernanke

said at the time, banks were "stable" and we see no serious problems. Lies, all lies and

most bought into them. We are still being lied to.

Again i will say, now 2 years and 12.3 Trillion$ later, (bail out began at 780B$ and grew into 15X that amount)

we are WORSE off than had we let the system crumble. Remember these facts next time you here a "media cheerleader" tell

you we are in recovery mode. Total fabrication....meanwhile China is making another move

to yet own more of this country....more investment from China because after all, they DO basically

own the U.S. economy because it was purposed. China is strapped with so much of our debt

instruments, and the day comes when they will "call in" those instruments...and the feds cannot

make good on them.

China knows this, so they are being given the "ok" to take what they want under every ones noses.

We've been sold out, and the people have loved the cheap goods produced from cheap labor,

consumerism at its finest. Now no jobs, no growth, constant lifting of debt ceilings, and who

has paid attention to this?

Yes, it is indeed worse than anyone wants to admit. While we wait for a RV, Rome burns and the

people sleep. I have been warning of these matters for the last 6 years and saw the housing crisis

back in 2005, and was laughed at by those I warned who were deep into "flipping" properties. The

arrogance I saw was truly unbelievable, and could never be sustained.

I told them this bubble was going to burst hard....you cannot have this kind of speculation within

the housing market and expect anything good to come out of it but a bubble, and a bubble it was.

Now those who laughed sit on several mortgages, or have outright defaulted and foreclosed. Some areas

seeing 50% or more devaluation of property prices and now we are in a double dip of decreasing

prices again according to the recent Case Shiller report...another one no one thought could happen.

It is one thing...GREED with ignorance. Nothing more nothing less and it is now worse than ever as many are witnessing

the crumbling of an entire nation(s). Do not think for a minute this is "drama". Believe me, it is real and

no amount of denial will stop the fruit of our actions over the last 20 to 25 years...especially the last

10 years.

It is insane to think that an Iraq RV, good as it will be for many of us, will some how "reset" global economies.

For how long? It is nonsense to think this way and pure hype. There is a minimum global credit requirement

of at least 100 T$ over the next several years....the only "reset" is going to be the slow and continual decay

of many nations and sovereign defaults are coming like a freight train including the USA. Why? Simply because

few have learned a thing from our past mistakes.

I will end with this...when/if there is an RV for the IQD....please be responsible and do not think all the troubles

will magically disappear. After about 1 year of jubilant shouts, and a return to arrogance by many, the reality

of the situation facing global economies and governments will hit like lightening, leaving many able to do little

other than cover their mouths with their hands wondering "how could this happen"?

We cannot afford to live in denial. We all will need much wisdom on how to handle what is coming. Otherwise,

many fortunes will be made AND lost in a short period of time as matters and facts converge to further GUT

the system as the abuses grow. We cannot afford to ignore the major players behind this fiasco...because it

is these same folks who are now taking us down the road to no return, and smiling as they soon pull out all stops

and we head into QE3 (quantitative easing-round 3)...watch wall street soon correct back 10 - 20% so they can get more zero interest funds

from Uncle Ben. The only thing keeping markets from real implosion is federal spending....and the shadow government

that is now wall street and their minion banks. They know they get what they want...look at a chart of the Dow index

at the end of August after the feds said there would be another round of "easing"...it took off like a rocket rallying

not based upon real company earnings at all...but based upon FED PUMPING. This proves that markets can no

longer stand upon their own merit....they must continue the propping. We are going to still see higher market prices

after a soon correction, but it is a temporary stall of what is to come.

What a sad unfortunate mess, and it all started when the street gurus like Goldman and JPM created their junk paper

and MBS (mortgage backed securities no one thought could fail) and sold it as if it was actually worth something...the whole

system bought into it on a global basis, until they realized they had been taken for a fool. It is now getting close to episode 2,

already being unveiled, and people really think it will all go away due to an Iraq RV?

Take precautions now, and pray for wisdom....we will all need it. This is not going away. Take concrete steps to

protect your wealth and assets from those who would seize them with a smile, and from those factors that will

erode the asset values quickly. It is going on now. We face an odd set of circumstances both deflationary as world

demand for raw materials continues to fall (see the Baltic Dry Index) and it will clear up the murky waters a bit while we

also face unprecedented bout with inflationary factors due to our irresponsible management of currency. Look at food and

energy costs. The picture becomes more clear if one stops listening to the market cheerleaders and faces the reality

of what has happened.

I would love to be more positive about our future outcome, but over the years...and the excesses...there is a time of reaping

what we have sown, and it is not good. It is obvious a few controlling interests have other plans...for your families sake, and for

your own sake, take the necessary steps to preserve your wealth and capital. No one else can do it for you. Get informed and get

prepared as much as possible, please. This is not a game.

All my best!

Jim

---

[jmcofield]

The gov. makes this apear harder to fix than it really is. If the US would take the stand we will not inport more than we export to any giveg country most of the jobs would come back an they would get their tax money,if they would do away with employment tax an add a small consumable goods tax they would get more taxes because everyone would have to pay citizen or not . Apply a large tax on companies that that are american owned an have factorys overseas an import the products back.

the bottom line is the gov has to piss some countries off an stop letting big companies regulate the laws so they can make more money

OUR GOV NEEDS TO PISS OFF A FEW PEOPLE TO STOP PISSING ON ALL OF US!!!

[Don Paul]

In other words, and without a doubt

YOU need to figure out your 'exit' strategy because there will be no Benefits, including social security for your retirement.

You many want to reconsider investing your dinars/RV into any type of US securities of funds.

[vern]

What should happen is this- ARREST them all and Stealing from the people . I think it is Treason and Pozi and a few others. What will HAPPEN is nothing because people will not get into their heads that this is real. No-one believe in FIRE and the smoke is comin thru the door. It is happening here also. HOW can a people as smart as we are supposed to be let this happen. We train our kids in the BEST Universities and Colleges and we ahve the best Forces in the world and it is all being turned on us. WEas a people have let this happen. It is coming down from the top and the best way is to take their chairs and make them stand to be counted. You really think this can be fought at the voters booth? NOPE AINT GONNA HAPPEN/ It has to come from within. Remeber If Your Body Is Sick It Will Heal Itself from within. THE SAME GOES FOR A COUNTRY FOLKS. - They stole from me to just like you and i let it happen just like the rest of you all. It is time we thot about this. Yes GOD is in control --but JESUS Himsel thru the money changers around and called them a den of theives and vipers. HE was acting in common law. Prince William is getting married - HOW doe he become SOVERGHN when he gets married----I thot we were SOVEREN--you see we have been taken and NOW we get angry? It aint gonna stop until it stops.Yes i am angry because alot of us have grandkids and family like you all- I dont want this on them-It would be wise for the younger generation to stand up now and say - we didnt make the debt and we are not going to pay for it- They deserve that i tink-----GOD Bless you all-Vern