TheInvisibleHand

Originally Posted by TheInvisibleHand

Rick Santelli Radio Interview: Discussing the National Debt, Interest Rates, QE3, and other fun stuff!

*Click Here To Listen *

http://www.netcastdaily.com/broadcas...012-0203-1.asx

Hopefully, you all have some gold and silver!

Originally Posted by TheInvisibleHand

Source:Business Insider
Joe Weisenthal

Finally, a logical warning on US credit.
Moody's is out with a comment saying that if there's no imminent progress on the debt ceiling fight, the US credit rating will be cut.
This makes total sense, and we applaud Moody's for doing their job: Identifying an imminent (real) issue, and sensibly advising (ahead of time) about what could be a threat to US debt holders.
This should help put an end to this idea that a technical default would be just fine, and that somehow all this brinksmanship would be good for US credit somehow.

READ FULL ARTICLE....

Stacy Kaper
National Journal

Saturday, May 14, 2011 Treasury Secretary Tim Geithner said if Congress fails to lift the debt ceiling and the U.S. defaults on its obligations “this abrupt contraction would likely push us into a double dip recession,” painting the most explicitly dire prediction to date of the consequences of inaction.
In a heavily-anticipated response to Sen. Michael Bennet, D-Colo., who asked Geithner to document the economic and fiscal impacts of failing to lift the statutory debt limit, the Treasury secretary detailed a chain reaction that would cripple the economy, costing jobs and income.
“A default would inflict catastrophic far-reaching damage on our nation’s economy, significantly reducing growth and increasing unemployment,” said Geithner in the letter to Bennet which was dated May 13. “Even a short-term default could cause irrevocable damage to the economy.”
Geithner has imposed ...

You be the judge, it seems we have increased the debt ceiling every other quarter recently. In Dec 2009 there was a big debate about raising it to 12.4 trillion. In less then 2 yrs they are again battling to raise it over 14.9 trillion.

I guess another money printing is party is in order!

PEOPLE FORGET DEBT=SLAVERY!

Great commentary on Geitner's letter to Reed and the debt ceiling, dollar destruction, one world currency, metal prices, and bullion confiscation.

Tags
China, Geitner,Reed, debt ceiling, wakingthebull.com. gold, silver, dollar, crisis, inflation, euro, bullion confiscation

Congress has to vote to raise the debt limit, sometime between April 5th and May 31 or the 14.3 trillion dollar debt ceiling will be reached.

Source:
Presstvusdesk | January 14, 2011 | 0 likes, 0 dislikes
The U.S. public overwhelmingly opposes raising the country's debt limit even though failure to do so could hurt America's international standing and push up borrowing costs, according to an Ipsos poll released on Wednesday.


Some 71 percent of those surveyed oppose increasing the borrowing authority, the focus of a brewing political battle over federal spending. Only 18 percent support an increase in debt ceiling.




The poll underscores the tough task ahead for U.S. lawmakers as the debt nears its current ceiling of $14.3 trillion. Treasury Secretary Timothy Geithner last week warned that a failure to raise the borrowing limit in the coming months could lead to "catastrophic economic consequences."


...

14 Trillion whats next? Gold and silver on the dips!