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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: TideGlider who wrote (92531)	10/8/2010 12:08:04 PM
From: tonto	2 Recommendations Read Replies (1) \| Respond to of 224714

Let it run! That is great news for traders...long and short.

To: TideGlider who wrote (92531)	10/8/2010 12:38:48 PM
From: lorne	1 Recommendation Respond to of 224714

TideGlider...."The other problem is the US government is now getting to the point that it can no longer sustain paying the interest on its Treasury Bill debt through normal means. Once the bond traders get a sniff of this – coming in the next few months – they will cut the US government off at the knees and plunge the Dollar even lower. The bond traders are ruthless; they don't care what happens to the country – they care first and foremost about profits. This is where the consequences of decades of abuse to our credit system will finally come home to roost. We have been able to postpone our consequences for quite some time; but, in effect, all we've done is make the end result worse by not dealing with it when we should have. And now it's going to be a big wake-up call for everybody. The timing on it? It sure looks close to me; I don't see any way out. TGR: When you say "close," what's close? Greg McCoach: I think we're going to see some events this fall. The fiscal year-end for the United States is in October; the new fiscal year begins November 1. The fact the US government can't keep up with the interest payments on its T-Bill debt is going to become well known. These problems on top of the derivative problems are like ticking time bombs; we don't know exactly when they're going to go off, but we know they must. Look at the banks; the banks have held all this money (TARP and economic stimulus) that was supposed to go back into the economy to help business owners, homeowners and generally stimulate the economic recovery. I say: "What Recovery?" None of that money got to where it was supposed to go. Why? The banks are selfishly holding the money to bail out their own rear ends because they have these derivative problems that haven't been solved.".... Full article >>>> goldnews.bullionvault.com