Could it happen

[Guest]

Could it be that with the debt crisis and the fact that we are getting deeper in debt an attempt to break the Federal Reserve. If it is and it was successful it would really wipe out the US completely. Just something to think about. Anything is possible. There is a lot of critism about the Fed right now and Obama has talked about a government bank. Watch closely. I really do want to hear comments on this and dont just say thats crazy.

[Guest]

I truly believe this regime in the White House is trying to destroy the USA and have some kind of one power nation. Nobody could destroy this economy the last 3 years without really trying.

[Guest]

I truly believe this regime in the White House is trying to destroy the USA and have some kind of one power nation. Nobody could destroy this economy the last 3 years without really trying.

Geezzzz... is that it? If I felt that way, I'd move to another country!

The issue, in my mind, would be the $ losing its status as the world reserve currency. That could be a devastating blow to our economy and the good life, as we know.

[Guest]

You're right.....that's crazy! :yuck:

[Guest]

Geezzzz... is that it? If I felt that way, I'd move to another country!

The issue, in my mind, would be the $ losing its status as the world reserve currency. That could be a devastating blow to our economy and the good life, as we know.

I will not run to another country, but stay here to help this country by voting in 2012.
Speaking of leaving this country, Alec Baldwin said that he was going to leave this country if Bush was elected. Last I seen, he is still on television and enjoying the fruits of his good fortune with his fellow progressive liberal friends, in Follywood. Too, bad.;)

[Guest]

Do a google on "World Reserve Currencies." Then read about what happened to the UK when the pound lost WRC. Not a very pretty picture. Already there are some countries that are dealing in gold only. Not a good sign. I hope that the current administration does not mess around and the $ loses WRC status. If that happens, our way of life will change quickly and not for the good.

See as of now, the cost of oil has no bearing on us. They raise the price, we crank up the presses and print more dollars. Now if another country wants oil, they have to first buy our dollars then buy the oil. When the dollar loses WRC status, that will not be the case. So whatever replaces the dollar, we will have to buy to buy the oil. We lose, someone else wins.

[Guest]

Well it depends. There at least three definitions of US debt. and bear in mind that Fannie and Freddie are not included in any of them. It is how and why politicians can manipulate their positions on this subject. So my friends here is what I learned.

There is total debt, debt held by the public or total future liabilities of the federal government.

Publicy held debt is the sum of the Treasury securities held by individuals, financial institutions and foreign governments (not china)

Total debt isis the sum of all federal bills, notes and bonds issued by the Treasury but not yet redeemed

total future liabilities- Treasury bonds held b y the federl governement and equal future pensions, health care sociual security ,etc that are promied under current legislation

So the next time one of these rascals starts talking about the debt listen carefully to his/her definition. and yes I do understand that by any definition we are still in hock up to our necks.

[Guest]

I disagree.

If you look at London right now, THEY are the center of world finance. The fact that the pound sterling lost that status was probably insignificant compared to having half the country bombed flat in WWII.

There is no reserve currency now and no amount of wishful thhinking by the Chinese will create one unless the resto of the world goes along - and we won't, that's for sure - neither will the Brits who won't even join the Euro - which is in enough trouble as it is.

I say this partially tongue-in-cheek but the only thing that will create the "world currency unit" is an alien invasion. Untill we see ourselves as human beings first and nationalities second, etc., it's just not going to happen.