All this borrowing will come to a complete halt if the world's financial powers deem the dollar is no longer the Reserve Standard Currency. Which is well on it's way to being achieved. Because Congress and this president have no will to correct our financial mess and instead print billions a month to infuse the market with false growth...looks good statistically until you realize that's all new borrowed money and we can't pay our old debt. Media will tell people our maximum debt this year is 17 trillion dollars which is patently untrue. More accurate estimate is 20 trillion but then if you look at long term unfunded and increase interest due to our lower credit standing that debt number balloons to 34.3 trillion in national debt. Scary number!<quoted text>
The simple response to Obamaís request for more money is ďHELL NO!Ē He should be sent to Singapore and have his ass beat like his ancestors got for the money he has already wasted especially on any liberal agenda. I would also like to see liberals either euthanized or deported to Gitmo or somewhere right along with all Queers. They are absolutely disgusting useless here and purely parasites on our society.
IMF is moving away from the dollar as it's currency instead opting for SDR's-currencies of members of the IMF and using SDR bonds instead of US bonds. The only reason we have been able to continue to borrow is because the U.S. is the only country which has our currency as the Reserve Currency Standard. We can print our own money which we are doing billions of dollars a month and flooding Wall Street with a "false" sense of well being when it's new borrowed money we're doing it with not actual sustainable growth in the market through capitalism. Fake market results but the wealthy are playing the game and laughing all the way to their individual off shore accounts.
Unfortunately unless Obama and Congress start being responsible stewards of this country with a long term budget which balances our revenue with expenditures we will not only be downgraded again but we will lose status as Reserve Currency in the dollar. If that happens it won't matter who you are or how much money you have in a U.S. bank your life will change dramatically. Remember Cyprus.
Guess where our family's portfolio's investments are? Precious metals and a few select investments which are also a hedge against more generic investments. Don't leave all your money in a US Bank in US dollars the value of your "cash" is getting less every day. If you travel abroad like in India they don't want dollars or US dollar backed credit cards. No they want other foreign currencies because our dollar is losing value. Taj Mahal tourist from America are finding their credit cards back by the dollar and cash dollars aren't wanted. Who would have imagined that would happen to America?