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Debt Deal or No Debt Deal, Janet Yellen Heads the Fed, China and EU Cut Dollar Trade

 
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10/11/2013 03:49 AM
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Debt Deal or No Debt Deal, Janet Yellen Heads the Fed, China and EU Cut Dollar Trade


Deal or no deal. The battle to reopen the government and raise the debt ceiling is progressing. At least the two sides are talking, but I still feel like we are being forced to watch a sadistic game show where everybody ends up losing. In the end, I think everybody will lose because it is not the so-called debt ceiling that is the real problem, it is the enormous debt. $17 trillion and growing, and that doesnít include the more than $5 trillion in additional commitments we take on every year. Do I think the government is dysfunctional? NO. It is working exactly the way it should. The reason why we have separate bodies of government is that it provides checks and balances. Are both parties to blame for the mess we are in with this enormous debt problem? Yes. Letís not forgetĖthe debt is the real problem. The U.S. is coming up short $1 trillion a year! That simply cannot go on forever.

Somebody that is going to have to face that problem is Janet Yellen, who was just nominated to take over at the Federal Reserve when Ben Bernanke leaves office. The media has sung her praises, but Ms. Yellen, I do not think, is going to be some sort of savior. In fact, it will be just the opposite. A few years ago, when asked about the gigantic 2008 financial meltdown, Yellen said, ďI didnít see any of that coming until it happened.Ē Yellen didnít see anything wrong with the system before it almost totally collapsed? I donít get it. Peter Schiff will be on Monday. He predicted months ago that she would get the nod when Larry Summers was the odds on favorite to get the job. Schiff will talk about what Janet Yellen faces.

Hereís one big problem. China just arranged a currency swap with the European Union. That means the two biggest markets outside of America will not be settling trade with U.S. dollars. If you think this will not affect you, think again. This means all those dollars will not be needed anymore, and those dollars will be sent back home. When you have a lot of something, the price goes down. I am talking about inflation boomeranging back home to the U.S. One other thing, China imported more than 846 tons of gold in the first 8 months of this year. You must ask yourself, why are they doing that? You think China might want to have a world reserve currency and back it with gold? Many say yes.

One final note, even though you havenít heard much about it, the Syrian civil war is raging on. There have been 100,000 killed since the conflict started 2 years ago. And in Libya, the Prime Minister was kidnapped for a short while by Al-Qaeda linked militants and later rescued. Nothing is settled in that part of the world; and, in fact, it is getting worse.

Link: [link to usawatchdog.com]


SPACE123
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"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your counsel nor your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."- Samuel Adams

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Anonymous Coward
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10/11/2013 06:04 AM
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Re: Debt Deal or No Debt Deal, Janet Yellen Heads the Fed, China and EU Cut Dollar Trade
Well if you want something to collapse, you get the best person to do the job! It is beginning to look like that is what is going on.
Anonymous Coward
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Norway
10/11/2013 06:10 AM
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Re: Debt Deal or No Debt Deal, Janet Yellen Heads the Fed, China and EU Cut Dollar Trade
Yeller is not to be compromised with!!!!!!!!!!!!!!!
Anonymous Coward
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Norway
10/11/2013 06:11 AM
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Re: Debt Deal or No Debt Deal, Janet Yellen Heads the Fed, China and EU Cut Dollar Trade
Stay away Amerikuns. We will destroy them with the true Fourth Reich >=D
Interested_1

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10/11/2013 06:26 AM
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Re: Debt Deal or No Debt Deal, Janet Yellen Heads the Fed, China and EU Cut Dollar Trade
bump
Take the red pill now...later it will come as a suppository.
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User ID: 37271772
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10/11/2013 04:34 PM
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Re: Debt Deal or No Debt Deal, Janet Yellen Heads the Fed, China and EU Cut Dollar Trade
bump
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Not all posts on this website are intended as truthful or factual assertion by their authors. Some users of this website are participating in internet role playing, with or without the use of an avatar. NO post on this website should be considered factual information on face value alone.

"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your counsel nor your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."- Samuel Adams

"...It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds.."
--Samuel Adams

A man may die, nations may rise and fall, but an idea lives on.
--John F. Kennedy

The cost of freedom is always high, but Americans have always paid it. And one path we shall never choose, and that is the path of surrender, or submission.
--John F. Kennedy

Mankind must put an end to war before war puts an end to mankind.
--John F. Kennedy

All religions, arts and sciences are branches of the same tree.
--Albert Einstein
Necromancer
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10/12/2013 09:59 PM
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Re: Debt Deal or No Debt Deal, Janet Yellen Heads the Fed, China and EU Cut Dollar Trade
Stay away Amerikuns. We will destroy them with the true Fourth Reich >=D
 Quoting: Anonymous Coward 43392819


Keep your friends close and your Enemy ------ ?





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