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Collapse of the U.S. Economy?

Druidus

Keeper of the Grove
In its attempt to establish a world empire dominating every nation on the planet, the U.S. has exhausted its ability to finance the expansion and the country now faces imminent financial collapse. From all indications, it looks like 2006 will spell the end for America.Consider these five important points:

-Point #1 The U.S., Great Britain and Israel are preparing to attack Iran. As it appears the main reason for invading Iraq was to stop it from selling oil in Euros, likewise Iran has plans to dump the dollar come March 2006.

-Point #2 U.S. Treasury Secretary John Snow issued a warning recently that the U.S. Government is on the verge of collapse - as the statutory debt limit imposed by Congress of $8.184 trillion dollars would be reached in mid-February - the government would then be unable to continue its normal operations. Considering the current total U.S. debt stands at $8.162 trillion dollars, once the official debt ceiling ($8.184 trillion) is reached, the U.S. government’s credit abroad (its borrowing power) is gone. Those countries (mainly China) who presently keep America afloat by holding U.S. Treasury Notes, will most likely no longer continue doing so.

-Point #3 Bank Of America and Compass Bank managers (probably all other U.S. banks too) have been instructing their employees in the last few weeks on how to respond to customer demands in the event of a collapse of the U.S. economy - specifically telling the employees that only agents from the Department Of Homeland Security will have authority to decide what belongings customers may have from their safe deposit boxes - and that precious metals and other valuables will not be released to U.S. citizens. The bank employees have been strictly prohibited from revealing the banks’ new "guidelines" to anyone. (however, employees have been talking to friends and family)

The next time you visit your bank, ask them about it - then ask yourself, why is this information being kept secret from customers and the public - what’s really going on?

-Point #4 FEMA has activated and is currently staffing its vast network of empty internment camps with armed military personnel - unknown to most Americans, these large federal facilities are strategically positioned across the U.S. landscape to "manage" the population in the event of a "terrorist" attack, a civilian uprising, large-scale dissent ,or an insurrection against the government. Some of these razor-wired facilities have the capacity of detaining a million people.

-Point #5 The Patriot Act and the US Senate’s vote to ban habeas corpus (Nov 14th) - along with George W. Bush having signed executive orders giving him sole authority to impose martial law, suspend habeas corpus and ignore the Posse Comitatus Act, have together pretty much destroyed any notions of freedom and justice for Americans.

-Summary: The U.S. economy is broken, the United States is bankrupt - the unchecked spending by this administration, the illegally waged wars against Afghanistan and Iraq, the cost of unprecedented weapons and military build-up - have all contributed to an irreversible emergency which is threatening our nation’s existence and our very lives.

Hospitals are closing, major corporations are declaring bankruptcy and/or moving their companies overseas, the monopolized news media spews nothing but lies, and our fearless leaders have turned out to be only ruthless criminals hell-bent on destabilizing our country and robbing us all.

Be aware - we stand at the threshold of total ruin - the international bankers and war profiteers care little for our lives and families - these demons worship money and all things vile and evil - they have very much to gain from war, misery, disease, famine, chaos and death (our deaths).

We are right on the edge - the Treasury is already overextended - the U.S. government cannot (and will not) care for its own citizens’ needs, nor secure our borders against illegal aliens - plus, the whole "terrorist" thing is a cruel hoax perpetrated against a trusting citizenry - and only designed to instill fear and garner support for the genocide taking place in Iraq.

Should America (along with British & Israeli forces) launch a war against Iran, or another country, without yet paying for, or even recovering from the current losses in Iraq and elsewhere - the costs of such of an invasion will overwhelm an already crippled economy and push the U.S. over the edge into oblivion.

-Question: Considering the U.S. Treasury Notes that China currently holds (which keeps the U.S. economy going)...

Do you think China will continue to support a country’s economy (the U.S.) whose military launches a nuclear strike against its neighbor (Iran) - thus delivering a blanket of radioactive fallout over western Chinese provinces - killing hundreds of thousands, if not millions of its citizens?

I think not.

Factoring in the aforementioned points of "preparation" engineered by U.S. authorities, I’d say there’s a stinking rat in the woodpile ...can you smell it too?
This was e-mailed to me, with no author listed. I found it interesting. Do you think there is any truth at all to what they say?
 

BUDDY

User of Aspercreme
It would be interesting to know who wrote this garbage. His points are based on no fact whatsoever. The only item in the only thing that I agree with is that we are spending to much money. We could if we wanted to, pay off our national debt in one year if we wnated to by calling in the debts that are owed to us. Also, I just called my brother in law, who works for Bank of America's MArketing Department in Charlotte, NC, and he is researching point #3 for me, but has not heard any such thing. He highly doubts that it is true. I could find nothing relating to point #2 in an internet search and such an announcement would certainly be made public. I have never even heard of what is listed in point #4, see no evidence to support such, and don't believe that it is true. It is going to take a lot more than an anonymous tip to convince me of this. President Bush has called for the end or revamping of Posse Comitatus, but does not have sole authority to end it, only to suspend it. That can be overturned by the House I believe.
 

Druidus

Keeper of the Grove
I'd frubal you if I could, Buddy, but I've fruballed you too much, apparently.

I thought as much of the article, interesting as such a hypthetical situation might be.

However, on the point of calling in debts, what if the other nations are in debt as well?
 

BUDDY

User of Aspercreme
Druidus said:
I'd frubal you if I could, Buddy, but I've fruballed you too much, apparently.

I thought as much of the article, interesting as such a hypthetical situation might be.

However, on the point of calling in debts, what if the other nations are in debt as well?
Well, then maybe iot would be enough to stop giving them money. I am going to do some research and find out how much money we give to other countries and what countries they are. Then I will cross reference that with how much money we have given in the past to what countries and which ones haven't paid us back yet. I would be willing to place money on there being a lot of nations that we have goven money to, that haven't paid us back, and yet we still give them more. What would a bank do if you or I borrowed money one year, didn't even pay the interest on it, and then came back the next year asking for more? They would laugh us both right out of the place and then report us to other banks, that's what. And yet our idiot government continues to do this year after year. I say we just cut people off altogether, like what everyone else in a free market goes through.
 

Druidus

Keeper of the Grove
I can tell you off the top of my head that the U.S. lends approximately 3 billion dollars per day.

I too find this a funny situation. Imagine if you went to the bank, and you had a deficit, but then you tried to loan money to someone else from your "red" account? I doubt it'd go over well.
 

Scarlett Wampus

psychonaut
I don't know enough about economics or American politics to make much sense of that article. I know that a couple of American friends I talk to online are worried about the US economy at the moment because of Iran's plan to switch to petroeuros. They think that will cause problems especially if other countries decide to take the same route. However that's not one of the points made in that thing you were sent.
 

greatcalgarian

Well-Known Member
A very good conspiracy theory. Sound and logical.

Just to bring out one point of fact. Look at China economy, rose to 4th place last year. Look at how desperate US tried to get China to agree to float the Renminbi.

Continue to live in the Ivory tower, and ignore all conspiracy theories. It is comfortable, and whatever the conspiracy theory predicts may not happen in the next 10 years. However, Americans must face fact of rise and fall of empire. The British empire fell after WWII, though she is still tagging the US to continue to enjoy rather good fortune over the past 50 odd yrs. No one can predict when US will lost her #1 status. It will not be long, if present way of US operating is to continue.
 

greatcalgarian

Well-Known Member
Point #1 The U.S., Great Britain and Israel are preparing to attack Iran. As it appears the main reason for invading Iraq was to stop it from selling oil in Euros, likewise Iran has plans to dump the dollar come March 2006.
It is not simply just the reason of selling oil in Euros. The main reason is trying to cap China economy growth. Few years ago, China is about to get her energy source from Iraq, 9/11 allows US to go into Iraq to stop that. Now China is also on the verge of getting a long term deal of oil supply from Iran. It can easily be seen that US and coalition will go into Iran or create enough trouble to stop any flow of oil from Iran to China. Of course this is part of the reason, there are other factors as well.
If China and Canada strike a deal to get the oil sand in Alberta going, you will see US flexing her muscle to stop that unless the deal is done in US dollars and not Canadian loonies.
 

greatcalgarian

Well-Known Member
Further evidence to support the view posted:


Energy ties

China's most obvious interest is energy.

_41226410_carsagain203.jpg
Energy supply is a priority for the Chinese government



Three years ago, when Iran was already supplying 13 per cent of China's oil needs, the two governments signed a major deal which included Chinese development of Iranian oil fields.

It is a source of supply of growing importance for China - one it doesn't want disrupted by politics.

China also has a deeply-engrained reluctance to takes sides with the US against a fellow non-Western nation. Much of its current energy-driven diplomacy is on forging political alliances which exclude the West and are faithful to Chinese principles of non-interference in each other's internal affairs.
http://news.bbc.co.uk/1/hi/world/middle_east/4621182.stm
 

YmirGF

Bodhisattva in Recovery
Collapse of U.S. Economy Imminent
Written by SiberNews Media Team
Sunday, 22 January 2006

Pfffft.
 

greatcalgarian

Well-Known Member
BUDDY said:
It would be interesting to know who wrote this garbage. His points are based on no fact whatsoever. The only item in the only thing that I agree with is that we are spending to much money. We could if we wanted to, pay off our national debt in one year if we wnated to by calling in the debts that are owed to us. Also, I just called my brother in law, who works for Bank of America's MArketing Department in Charlotte, NC, and he is researching point #3 for me, but has not heard any such thing. He highly doubts that it is true. I could find nothing relating to point #2 in an internet search and such an announcement would certainly be made public. I have never even heard of what is listed in point #4, see no evidence to support such, and don't believe that it is true. It is going to take a lot more than an anonymous tip to convince me of this. President Bush has called for the end or revamping of Posse Comitatus, but does not have sole authority to end it, only to suspend it. That can be overturned by the House I believe.
This is the source for point #2, may be it is cut and paste from 2004::biglaugh:

The Path of Fiscal Irresponsibility

U.S. Treasury Secretary John Snow issued a warning: if Congress doesn't raise our national debt limit, the government will run out of cash in two months.
In a letter to Senate leaders Thursday, Snow said the statutory debt limit imposed by Congress of 8.184 trillion dollars would be reached in mid-February and the government would then lose its borrowing power. "At that time, unless the debt limit is raised or the Treasury Department takes authorized extraordinary actions, we will be unable to continue to finance government operations," said the letter, seen by AFP.

Snow warned that even if the Treasury took "all available prudent and legal actions" to avoid breaching the ceiling, "we anticipate that we can finance government operations no longer than mid-March". "Accordingly, I am writing to request that Congress raise the statutory debt limit as soon as possible."

The Republican-led Congress last voted to increase the debt limit in mid-November 2004, despite opposition from Democrats who demanded the free-spending federal government tighten its belt instead. The US debt limit sparked bitter partisan battles in the mid-1990s between a Republican-dominated Congress and the Democratic administration of president Bill Clinton, leading to shutdowns of the federal government. Once the US government hits the ceiling, it comes under threat of defaulting on its debts and can lose the ability to raise future credit on the capital markets.

Snow underlined that the "full faith and credit of the United States" was a unique selling point on the markets. "A failure to increase the debt limit in a timely manner would threaten this unique and important position," he wrote in his letter.
http://www.mediacynic.com/economy/
 
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