The Obama - Clinton Disaster Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : The Obama - Clinton Disaster

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: stock bull who wrote (52369)	7/6/2011 11:22:00 PM
From: Wayners	Read Replies (1) of 103300

Do you think 100% of spending goes to bond, note and bill holders? It does not. They are the ones that hold the debt. If they are not paid on time, that is a default. The rest of spending goes to entitlement programs and discretionary spending. There is no default if Federal employees are Riffed or even if they send IOUs for entitlement programs. If you think ripping of people on entitlement programs is a default, then all you have to do is look at all the times the Feds have changed the rules in the past to short change those that dutifully paid in at the threat of jail. Aren't those defaults? Did our credit rating change as a result of those default? How about in 1971 when Nixon defaulted on Gold payments in exchange for worthless paper? That was a default wasn't it. We paid the price too with outrageous interest rates for 12 years afterwards. That's what happens when the Feds really default. How about 1933 when the Feds defaulted on their Federal Reserve Notes that they printed far in excess of the Gold supposedly backing it? There was a run on banks to convert the worthless paper to Gold. Another default.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next