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Old 12-25-2012, 05:08 AM
Danny B Danny B is offline
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Join Date: Oct 2012
Location: L.A. Ca.
Posts: 4,547
Return to a gold standard

The topic of a return to a gold standard has been around ever since we left the gold standard. America left the gold standard to pursue empire. War is very expensive and can't be executed with a fixed-wealth economy. Wars, of any consequence, must be executed on credit.
The capitalist West had a stronger credit rating than the socialist U.S.S.R so, we competed until they went bust.
http://www.professorfekete.com/artic...ntedToKnow.pdf

Foreigners hold $ 5.48 trillion of U.S. debt and $ 2.8 trillion needs to be rolled over in the coming year. The FED is on track to print $ 1.02 trillion in the coming year.
The debt ceiling is reached in about Feb. The paralysis of the fiscal cliff was predicted by economist Dick Eastman. Should we have an equal paralysis for the debt ceiling, GOV will default.

Pastor Lindsey Williams said that we were going to default in 2012. A few months ago, he related that there had been a change of plan and we would not default in 2012. It would take a lot of reading but, you would discover that pastor Williams has a history of very good accuracy.
A default would probably be structured as a Force majeure.
We would claim that we were broke and just were unable to pay. The general opinion is that this won't happen until Q2, 2013.

There are very credible claims that GOV has stashed away several hundred $ trillion.
CAFR1 Home Page
Gary North claims that this is BS but, his arguments are worthless.
There have been numerous situations in GOV where they claimed to be broke but the local CAFR report showed tons of mostly hidden money.
A while back, the state of Wisconsin screamed that they were broke and had to do enormous layoffs. I went to the State website and clicked on the CAFR report. "Page not available" Check with your webmaster.

When Orange county lost $ 1 billion and screamed BROKE, somebody dug into the CAFR report and found $ 16 billion in profitable investments.
CAFRs: The BIGGEST Secret - $60 Trillion Invested By Fed, State, And Local Governments!
The screaming died out and the money was ACTUALLY THERE.
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