Can anyone make sense of this?

[Miss Lynn]

Greetings. My name is Lynn and I have been a dinar holder for years. I was an active member on Frank's site until I just couldn't manage to drink the Koolaide. I've been lurking here ever since. Usually I can figure out things on my own, and have had no reason to post. If this has already been discussed I haven't found it. If so, please delete this post. This week, two news articles really got my attention, and I wanted to see what you all think. The first is about the debt ceiling, I bolded the sentences that grabbed me.

cnn.com, money section, June 19th

NEW YORK (CNNMoney) -- So little time. So little clarity. So much at stake.

It's T minus two weeks until July 1. That's the chosen deadline for the small bipartisan group of lawmakers negotiating a debt-reduction "framework" to accompany an increase in the country's debt ceiling.

Even that deadline, however, will make it hard to end the debt ceiling drama by Aug. 2, when the Treasury Department says it will no longer be able to pay all the country's bills in full without being allowed to borrow.

Indeed, the reality of the legislative process makes a short-term increase until September or October likely, some believe.

"In the next six weeks, there really isn't the time to technically draft that legislation, take it through the Congress, vote on it and have it signed," said former Congressional Budget Office director Barry Anderson at a conference held by the Committee for a Responsible Federal Budget last week.

There's another problem: It's still not clear that the group, led by Vice President Joe Biden, can even come to an agreement.

"They are probably making progress, but that doesn't mean you have a deal," said longtime political observer Norm Ornstein, a resident fellow at the American Enterprise Institute.

Nor is there any firm indication of what might be included in a final deal. Broadly, it appears there will be spending cuts, a debt or spending cap to shoot for over time and a trigger to keep lawmakers on the debt-reduction path they agree to.

Debt ceiling: What you need to know

It's also possible a deal will include some items that won't be called stimulus but which will cost money and be intended to help spur the economy since Main Street is still feeling less than robust.

For example, there's been chatter recently about extending the payroll tax cut for individuals passed in last December's $858 billion tax cut deal and possibly extending it to employers.

Spending cuts and entitlements: Reports suggest the Biden group is considering reducing anywhere from $1 trillion to $4 trillion of debt. Exactly how and over what time frame is a mystery and will likely remain so until a deal is done. Even then, don't faint if all is not made crystal clear. What has been made clear -- repeatedly -- is that Republicans want the magnitude of spending cuts to exceed the magnitude of any debt ceiling increase.

Members of the Biden group themselves have kept mum on specifics. Biden allowed on Thursday that the group has given its "first serious scrub" of the federal budget but that divisions remain over big-ticket items.

Two likely points of division are entitlement programs (many Democrats say "hands off") and what, if any, tax increases to include (Republicans still hold publicly that they will agree to none).

When the group comes to an agreement -- or just throws in the towel -- President Obama, House Speaker John Boehner and Senate Majority Leader Harry Reid will have to step in to set the terms of a final deal.

Debt vs. stimulus

That deal will then have to be sold to the full House and Senate. Some legislators will vote against any deal, and some will vote against the details of the specific deal presented.

That may be why Biden noted at the conclusion of his group's meetings last week that any package will need a heavy dose of bipartisan approval.

"Whatever gets sold, and the Congress affirmatively votes on will have to have a lot of Democratic and Republican votes," he said.

Short-term extension possible: Senate Republican Leader Mitch McConnell, appearing on CBS' "Face the Nation," said Sunday that if the package doesn't include changes to the entitlement programs Republicans might only approve a short-term increase in the debt ceiling.

Spending cuts alone won't work

If the Aug. 2 comes and goes without action, what happens next is anyone's guess.

The hope is that Treasury will be able technically and legally to continue making the interest and principal payments on U.S. debt and avoid so-called technical default. But it might have to start delaying payments to government contractors and ordinary Americans.

Some budget experts and political observers expect it will take Congress until the day before August recess to vote through a debt ceiling increase. The House and Senate are scheduled to fly the coop by Aug. 8. Or they may decide not to vote through an increase before vacation, putting the country in a particularly precarious spot.

Investors may start to doubt the United States has the political will to manage its fiscal affairs responsibly. And that could create a cascade of negative events that will hurt the country's credibility and the economy for months and possibly years to come.

---------------

OK. So I'm racking my brain trying to figure out SOMETHING OTHER THAN THE RV that could even remotely begin to reduce our national debt by 1 - 4 trillion dollars. Anyone?

So I'm thinking we have an RV. But then, with the ordeals in Greece and Lybia, coupled with today's announcement that the US is going to release 30 million barrels from our oil reserve, I'm thinking no way. Why would they release that oil? My thinking is that if we are releasing oil and we're looking at an RV, then we are not looking at a high RV or this country is in even worse shape than we thought.

Any takers on this one? Besides the fact that the so-called gurus are probably going to start using the Aug. 2nd date for the next sure thing?

Thanks-

Miss Lynn

Go RV!!!

Edited June 23, 2011 by Miss Lynn

[DinarBam]

I believe our debt crisis and the debt ceiling issue are completely unrelated to the Dinar. That has simply been the topic of wild speculation and there is no credible evidence of any connection that I have ever seen.

[Jim1cor13]

Hi Miss Lynn

Welcome to DV

Thank you for your post! There is certainly a lot to comment on

and it would take me most of the day, but I will shorten it up, I

hope!

First off, please understand that what we are seeing with the 'debt showdown'

is nothing more than a side show. The debt ceiling WILL be lifted, the feds have

absolutely NO more tools left in their criminal activity and how they have literally

sold this country out to foreign interest due to our insane monetary policies.

The actual hard stats on the U.S. debt is enough to make one sick. It is not the official

numbers that the CBO give, or any other agency, but the actual verifiable amount

of spending and "stimulus" that has been pumped into the system that is staggering.

We have a serious problem unfolding slowly, but will pick up speed in the coming months.

Do not believe for a moment that some kind of Iraqi revaluation will make a dent in the sheer

amount of debt that has been built, and right now the figure at this time *if* we include total

unfunded liabilities is approx. 90 - 100 Trillion$ +. This is NOT going to go away and we have

strapped literally generations of people here in the US with an insurmountable debt that

in all reality can never and will never be repaid.

The next phase what I have been calling for for months, will be the feds entering another

round of QE (quantitative easing) and this will likely be a much more 'stealth' action this time

around but the results can never be any different. As long as there is no job creation, other than

federal jobs, there can be no sustainable recovery.

Before I get to involved...let me just say this. We better take the blinders off now rather than later,

and realize where we are headed and then prayerfully prepare for a long difficult ride courtesy

of the US treasury dept. and the fed monetary policies. We are in a mess, and there is no

escaping the reality of what is coming.

It is not just the US, but Europe which includes the PIIGS countries already in default mode, and the

strangest thing is, in truth, the US is actually worse off financially than Greece is, or any of the other

countries that are going to default at some point. I hope that offers some insight into just how severe

this insanity has become. We are witnessing something taking place that will make 1929 - 1954

(depression era) seem like a walk in the park.

Thank you for the post and the information...it is indeed real and a complete slow break down of the

financial system is already underway. I deal with this info. daily in my work, and it often is troubling to

even have to research it, but I would rather know the truth than to be lied to by our own gov. leaders.

Have a peaceful day

All my best!

Jim

---

[quantumleap]

I CONCUR, THE 2 ARE UNRELATED TO THE DINAR, THE PENDING

RELEASE OF 30 MILLION BARRELS OF CRUDE WILL HAVE

VERRY LITTLE AFFECT ESPECIALLY WHEN OUR DAILY

CONSUMPTION IS ABOUT 22 MILLION BPD.....MORE

SMOKING MIRRORS BY OUR GOVERNMENT!!!

[Babs47]

I think it has to be the RV that they're counting on. If it were something they were allowed to tell beforehand, I'm thinkin' they would, just to calm the populace and affect the stock market in a positive way. We shall see!

[randalln]

ya they could reduce the debt. just by paying the bills instead of diverting the GDP

We are only 50% up side down now. Most people in america owe more on their car than that like 75% up-side down .And then add in their house 300% up-side down.

So you can see all they have to do is stop spending and start paying they dont even have to raise taxes .

We have a serious problem unfolding slowly, but will pick up speed in the coming months.

Do not believe for a moment that some kind of Iraqi revaluation will make a dent in the sheer

amount of debt that has been built, and right now the figure at this time *if* we include total

unfunded liabilities is approx. 90 - 100 Trillion$ +. This is NOT going to go away and we have

strapped literally generations of people here in the US with an insurmountable debt that

in all reality can never and will never be repaid.

Read more: http://dinarvets.com/forums/index.php?/topic/71752-can-anyone-make-sense-of-this/#ixzz1Q8EnJRsT

where do you get your figures ?100 trillion + haha Are you kidding thats more than china russia America and the UK are even worth ............

[af4mi]

My hat is off to you JIM. A perfect analysis, without emotions interjected.....at least on the surface. Well done!

[tandy]

My hat is off to you JIM. A perfect analysis, without emotions interjected.....at least on the surface. Well done!

Agreed...Jim did a good job on it ....well done indeed!

[LS1Hawk]

Look! The dollar is being destroyed on PURPOSE, Their going to print more money this summer which will devalue the dollar even more. You do not have much time left before the S%*T hits the fan and the 50 million people on food stamps cannot afford to feed their kids. Not to mention a crap load of Old people (Already living below the poverty line) not being able to make it month to month. If you havn't already started storing food and Water ( or at least getting a gravity feed water filter (berkey is a great brand) Your going to need AT LEAST 6 months of reserves (Im shooting for at least a year. A serious Nation Wide Lock down is right around the corner, it's only going to take a False Flag attack, or someone we Angered due to another occupation. I'm sure most of you see the writting on the wall. As for me, I'm praying this investment goes through even in a small way so I can better prepare for whats around the corner. I don't have to say that this is (Just my Honest Opinion) It's common sense. May the Lord's Grace protect this country.

Edited June 24, 2011 by LS1Hawk

[JakeInYourBox]

IMORE

SMOKING MIRRORS BY OUR GOVERNMENT!!!

Smoke and Mirrors?