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America will default on its debt August 2nd


steveflex7
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Obama said in his speech today that if nothing is done to prevent it, August 2nd will be the first time in America's history that it has defaulted on its loans, and this could have huge ramifications on the economy and the nation as a whole. Wouldn't it make sense that the RV must happen before this date to avoid this happening. This is what I am thinking. Thoughts and Comments ???

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Obama said in his speech today that if nothing is done to prevent it, August 2nd will be the first time in America's history that it has defaulted on its loans, and this could have huge ramifications on the economy and the nation as a whole. Wouldn't it make sense that the RV must happen before this date to avoid this happening. This is what I am thinking. Thoughts and Comments ???

I do understand the frustration about this, but I believe that they will come to an agreement on the debt ceiling. They will raise it, but they will get a lot of cuts in the spending before it is approved.

Unfortunately, there is no choice, and I am not even sure if there is a right way to get it done. It will be okay!

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you must understand 1 major thing......If Iraq were too RV their currency, it wouldn't be for the benefit of the USA or the world economy, it would be for the benefit of their people. I don't really think they give a crap about our situation

I see people post this all the time and I can't help but sit here and shake my head.

You must understand something. Iraq is more concerned about the world economy then you apparently realize. Iraq is interested in rebuilding their country. How do you suppose they are going to get the materials, equipment and man power to do this if the rest of the world collapses? It is easy to see things in black and white. However, there are plenty of gray areas to consider as well. Every aspect of each countries economy has ramifications on others. If it weren't for the fact that the US sent them billions in US bills they wouldn't have been able to make the progress they have, their own economy would still be in shambles. Yes, I know their economy was in shambles because of the war. Lets not forget we removed the tyrannical dictator that brought unspeakable atrocities against his own people and their neighbors. The Iraqi people and the majority of their government are extremely thankful for what we have done for them. Yes, there are members of the government and citizens, not to mention the terrorist groups, that oppose us, but by far the majority know they are much better off now becoming a free democracy then they were. Granted their democracy is moving along at a snails pace but perhaps you should look up how long it took the United States to draw up and ratify our Constitution, Bill of Rights, Declaration of Independence and then create our government. As slow as it seems it is going there, they are way ahead in the timeline when compared to how long it took us.

They will do this for their people but they will also do this for the US and the rest of the world.

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I see people post this all the time and I can't help but sit here and shake my head.

You must understand something. Iraq is more concerned about the world economy then you apparently realize. Iraq is interested in rebuilding their country. How do you suppose they are going to get the materials, equipment and man power to do this if the rest of the world collapses? It is easy to see things in black and white. However, there are plenty of gray areas to consider as well. Every aspect of each countries economy has ramifications on others. If it weren't for the fact that the US sent them billions in US bills they wouldn't have been able to make the progress they have, their own economy would still be in shambles. Yes, I know their economy was in shambles because of the war. Lets not forget we removed the tyrannical dictator that brought unspeakable atrocities against his own people and their neighbors. The Iraqi people and the majority of their government are extremely thankful for what we have done for them. Yes, there are members of the government and citizens, not to mention the terrorist groups, that oppose us, but by far the majority know they are much better off now becoming a free democracy then they were. Granted their democracy is moving along at a snails pace but perhaps you should look up how long it took the United States to draw up and ratify our Constitution, Bill of Rights, Declaration of Independence and then create our government. As slow as it seems it is going there, they are way ahead in the timeline when compared to how long it took us.

They will do this for their people but they will also do this for the US and the rest of the world.

I appreciate your point of view, but I will respectfully agree to disagree and if I'm not mistaken I'm pretty positive the Declaration of Independence came first :)

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I will split hairs of sorts and agree that Iraq could care less about us or our problems.

However, there are people that understand all too well that the USA will be a necessary friend to get them where they ultimately want to be.

Then in time, they will drop us like an hot potato to move on to potentially become a world power.

Again, just my opinion.

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you must understand 1 major thing......If Iraq were too RV their currency, it wouldn't be for the benefit of the USA or the world economy, it would be for the benefit of their people. I don't really think they give a crap about our situation

You must understand, the United States is holding all the cards. When we say go, it will happen.

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You must understand, the United States is holding all the cards. When we say go, it will happen.

If what you say is true then this would've happened probably last year. The IMF and Iraq hold the cards my friend. Sure, we've heard all of the rumors that the USA holds trillions of dinar but

I would love to see somebody show proof of this. You won't find it. Keepm had a great post a few days ago talking about it

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you must understand 1 major thing......If Iraq were too RV their currency, it wouldn't be for the benefit of the USA or the world economy, it would be for the benefit of their people. I don't really think they give a crap about our situation

Actually not totally true. As I understand it Iraq must make reparations to a lot of countries, including the U.S. for the sins of Sadam. And THAT is kind of scarey when you think what it would mean if we were made repsonsible for all the CIA wars and CIA ruined countries around the world.... oops.

It is possible that some of that reparation will come in the form of the Dinar RV. In fact, knowing how crooked the Fed Corp is , you can bet they made a sweetheart deal for themselves.

Sometimes I think this is behind the struggle between Malaki and Shabibi. Malaki is working for his own benefit within Iraq; Shabibi is paid off by the Fed Corp. to push the revalue.

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I appreciate your point of view, but I will respectfully agree to disagree and if I'm not mistaken I'm pretty positive the Declaration of Independence came first :)

Yes, but our independence from a tyrannical government did not come from another country invading us and then supposedly "setting us free".. it came from within, on our own, with our own wits and guts, and flew in the face of all european monarchies. We scared the crap out of europe. We were for a long time branded outsiders... even terrorists by the methods we fought battles. Now we sit about and call the kettle black... too funny...

The Dinar will stabilize the world's currencies (All the government central banks have them in reserve...)

Edited by wavggg
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Actually not totally true. As I understand it Iraq must make reparations to a lot of countries, including the U.S. for the sins of Sadam. And THAT is kind of scarey when you think what it would mean if we were made repsonsible for all the CIA wars and CIA ruined countries around the world.... oops.

It is possible that some of that reparation will come in the form of the Dinar RV. In fact, knowing how crooked the Fed Corp is , you can bet they made a sweetheart deal for themselves.

Sometimes I think this is behind the struggle between Malaki and Shabibi. Malaki is working for his own benefit within Iraq; Shabibi is paid off by the Fed Corp. to push the revalue.

Yes, but our independence from a tyrannical government did not come from another country invading us and then supposedly "setting us free".. it came from within, on our own, with our own wits and guts, and flew in the face of all european monarchies. We scared the crap out of europe. We were for a long time branded outsiders... even terrorists by the methods we fought battles. Now we sit about and call the kettle black... too funny...

The Dinar will stabilize the world's currencies (All the government central banks have them in reserve...)

Iraq must make reparations, this is true! But the sins of Sadaam lie with the Kurdistan people and Kuwait. You can love your CIA conspiracy theories all you want but it doesn't apply.........Wavgg, the Dinar may stablize the world economy, but for you to say that it was their intention is stupid and uneducated if not Guru inspired. I do not need your history lesson because I am more than educated in how our great nation came to be. Guys, I want this to happen soooooo bad, I know we all do. Hell, it would make all of our lives so much easier if this turns out the way we want it to. But the fact of the matter is that it lies with Iraq and how their government feels it would benefit their people the most. You and I are just along for the ride

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