The Beginning Of The End
The Beginning Of The End By Michael T. Snyder - Kindle Version

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Shell Game

The entire U.S. financial system has become a gigantic shell game.  While it is still in motion, a shell game can be mesmerizing to watch.  But when it ends the consequences can be painful.  So exactly what is a shell game?  According to Wikipedia, a shell game "is portrayed as a gambling game, but in reality, when a wager for money is made, it is a confidence trick used to perpetrate fraud."  Sadly, that is exactly what is happening on the global stage today.  The Federal Reserve is like a con artist that is desperately trying to stay one step ahead of everyone else.  The folks at the Fed know that the debt that the U.S. government has accumulated is not sustainable and will eventually collapse.  They also know that the U.S. dollar is eventually going to become essentially worthless.  But for now the Federal Reserve is putting on a grand show and is trying to keep everyone believing that the game is fair and legitimate.

The Federal Reserve's much ballyhooed "QE2" program has come to an end, and most Americans still don't even understand what "quantitative easing" is.

Basically, what the Federal Reserve did was zap hundreds of billions of dollars into existence out of thin air and used them to buy U.S. government debt.

It is kind of like if you are playing poker with someone and they reach under the table and pull out a gigantic pile of chips which they add to their own stack.

In the process, the big banks made a ton of money because they are the ones that the Federal Reserve was buying U.S. Treasuries from and the U.S. government was happy because all of the new government debt being issued was getting soaked up by the system.

Of course all of this is one giant Ponzi scheme, but up to this point the Federal Reserve has gotten away with it.

Meanwhile, average Americans were getting the short end of the stick because all of this new money has been causing the price of food and the price of gas to go up.

But now QE2 has come to an end.

So does that mean that  "quantitative easing" is going to be completely over?

No, not really.  The shell game continues.

The Federal Reserve has announced that it is going to continue to purchase U.S. government debt using the proceeds from maturing debt that it already owns.  It is being projected that the Federal Reserve will purchase 300 billion dollars in U.S. government debt over the next 12 months using this method.

This isn't being called "quantitative easing", but that is essentially what it is.  In fact, one CNN article is calling it "QE2.5"....

QE2 is just about done. But the Federal Reserve will still be buying massive amounts of long-term Treasuries.

In fact, the Fed's purchases over the next year will likely be at least $300 billion. That's half the size of QE2 -- even if QE3 never takes place.

But "quantitative easing" is just one example of a shell game run by the Fed.  There have been lots more.

For example, during the financial crisis the Federal Reserve started loaning gigantic amounts of cash to the big banks for next to nothing.

The big banks took a lot of this cash and invested it in U.S. Treasuries.  U.S. Treasuries typically only pay a couple of percentage points, but when you can borrow massive amounts of nearly free money suddenly they become extremely profitable.

Instead of loaning out large amounts of money to all of us to get the economy rolling again, the big banks just parked huge amounts of cash in U.S. Treasuries and watched the risk-free profits come rolling in.

In this way, the Federal Reserve helped big banks make a ton of money and they supported the exploding federal government debt load at the same time.

The chart below shows that the amount of U.S. government securities owned by the banks has increased exponentially since the beginning of the financial crisis.  This is not an accident....

The Federal Reserve does lots of stuff like this.  They know that they will probably never get audited and they know that the American people don't understand all of this financial stuff, so they get away with it.

But what if something came along and suddenly interrupted the shell games that the Fed is playing?

Well, that is exactly what this debt ceiling debate threatens to do.

If the U.S. defaults, even for a short time, all of the financial shell games and Ponzi schemes are going to be greatly jeopardized.

If Congress does not raise the debt ceiling by August 2nd, the U.S. government will start defaulting, and that would unleash a tremendous amount of chaos.

A recent USA Today article described some of the things that might happen if the government was not able to borrow any more money later this summer....

If Social Security, Medicare, Medicaid, unemployment benefits, payments to defense contractors and interest payments on Treasury bonds were exempt, that would be all the government could afford for the month. No money for troops or veterans. No tax refunds. No food stamps or welfare. No federal salaries or benefits.

In addition, financial markets all over the world would be severely rattled.  If the default only lasted a couple of days it would not be bad, but if the U.S. ended up defaulting on debts for weeks or months it really would be cataclysmic.

The International Monetary Fund warned this week that a failure to raise the debt ceiling by August 2nd would be a "severe shock" to global financial markets.

In this case, the IMF is actually right.  In fact, a "severe shock" would be an understatement.

The managing director of Standard & Poor's has told Reuters that if the U.S. starts defaulting, the credit rating on U.S. Treasury bonds that are supposed to mature on August 4th will go all the way down from AAA to D....

Chambers, who is also the chairman of S&P's sovereign ratings committee, told Reuters on Tuesday that U.S. Treasury bills maturing on August 4 would be rated 'D' if the government fails to honor them. Unaffected Treasuries would be downgraded as well, but not as sharply, he said.

"If the U.S. government misses a payment, it goes to D," Chambers said. "That would happen right after August 4, when the bills mature, because they don't have a grace period."

A lot of Americans believe that Congress should just refuse to raise the debt ceiling and let the whole system crash.  But the reality is that most Americans simply have no idea how much of a financial disaster that would be for the entire globe.

Yes, the U.S. national debt is completely and totally out of control.  Yes, something must be done about it urgently.

But defaulting on our debts and wrecking global financial markets is not going to solve much of anything.

Sadly, even if we do not default on our debts this year, the reality is that the U.S. government debt bubble is going to collapse one way or another eventually.

The path that we are currently on is not even close to sustainable.

Even as our debt expands exponentially, the U.S. economy is being systematically dismantled and we are becoming poorer as a nation.

As I have written about previously, jobs and businesses are leaving the United States at a staggering rate because of cheap labor overseas and because of ridiculous regulations.  The business environment in this country has become incredibly toxic.

Stanford University’s David Cheriton was instrumental in helping Sergey Brin and Larry Brin develop Google.  Now he is warning that the anti-business policies of Barack Obama and the U.S. Congress are wrecking the economy....

"When you look at, say, Larry and Sergey of Google, they made billions of dollars, but they contributed many more billions of dollars to the US economy. And so we should be empowering these people; we should be cultivating more of the next generation of those types. And yet, I think there’s almost a hostile attitude towards people who have been successful in this country."

As I wrote about the other day, the rate of new business creation in the United States has been declining steadily since the 1980s.  We won't have a chance at a real economic recovery until the creation of small businesses is encouraged once again.

But today businesses of all sizes are trying to avoid U.S. taxation.  Right now, the United States has the highest corporate tax rate in the entire world.  Sadly, all businesses have a great deal of incentive to avoid incorporating in the United States.

A recent article in The Wall Street Journal talked about this phenomenon....

As savvy investors and entrepreneurs search for ways to minimize the impact of the U.S. tax system, with its relatively high rates and global reach, they are increasingly incorporating overseas, tax experts say. Some private-equity firms have relocated U.S. companies or divisions to tax-haven countries. U.S. multinational companies have spun off foreign subsidiaries in tax havens. U.S. start-ups are even beginning life offshore.

Large numbers of really good companies are fleeing the United States.

What we are doing is not working.

So what is the answer?

Well, as I have said before, we need to entirely scrap the current tax system and come up with something that works in the 21st century.

But we all know that is not going to happen.

Meanwhile, our economy continues to unravel.  According to the Department of Labor, the unemployment rate rose in 210 metro areas during the month of May, and it only declined in 131 metro areas.

Consumer confidence in this country has hit a seven-month low, and average Americans are becoming increasingly anxious about the state of the economy.

Unfortunately, most of our politicians don't seem to have any answers and the Federal Reserve is just trying to keep their shell games going.

Every single day the U.S. economy is getting weaker.  Every single day we are going into more debt.  Every single day we get closer to the collapse of the entire system.

Time is running out.

I hope you are making good use of the time you still have left.

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  • joe 6 pack

    sadly it looks like the federal reserve will buy more and more and then the imf takes over and demands we follow their agenda, the federal reserve can only buy so many trasuries till it reaches a danger zone . it will cause market instability everywhere.. massive buying t bills.. well be forced to sell off public assets eventually to cover our recless spending… perhaps 3 yrs or so. its imf goal of 2014. i hope im wrong?

    • mondobeyondo

      USA circa 2013 = Argentina 2001.

  • Mark

    Let me get this straight: Defaulting now and ‘wrecking the system’ is not going to accomplish anything. But: Our debt is ‘expanding exponentially’ and our country being ‘systemically dismantled.’
    So let’s all just continue down that path until. . . until. . .

    Your logic escapes me. I think it escaped you, too.

    • Michael

      I think that I was trying to convey that we are caught between a rock and a hard place.

      Yes, we are headed toward a disaster. But purposely crashing into the nearest wall isn’t going to help things.


  • Teresa

    “But defaulting on our debts and wrecking global financial markets is not going to solve much of anything.”

    You contradict yourself. You say the games will stop, but then you seem to beg, just not now.

    Why not ? How many lost years, like Japan, do we need to have before we “allow” the crash ? How many generations do we need to lose before the fraud gets uncovered and stopped ? How many crooks get rewarded for how many years because we are too timid to put a stop to it ?

    Don’t you think that a planned default, like a Chap. 7 or 13 bankruptcy, is better for all people (except the TBTF banks) than the train wreck we’ve been living thru for the past 4 years ?

    I love your essays, but this one faltered in the resolution to find a return to prosperity.

    Just one phrase: Stop the looting and start prosecuting…

    • josh

      “I love your essays, but this one faltered in the resolution to find a return to prosperity.”

      there will be no return to prosperity, what leads you to think that anything will be prosperous after collapse happens? we will be in the greatest depression because we have no job base, no manufacturing, no return to prosperity.

    • Mike

      I agree. As painful as it is, at some point we have to accept the inevitable and “let” our economy crash. Yes, it will be very painful, probably for years. But the longer we try to put it off the worse it will be, and it will be the future generations that had nothing to do with getting us here that will bear the brunt of it. So get it over with now and then we can put our full focus on making this country great again for our children, grandchildren, and so on.

      • Prepare For The Worse And Hope For The Best

        Crashing into a wall is not the answer. It will not allow as many people to become aware and prepare for the collapse that is coming. The more time we have the better. Kick the can as far down the road as possible.
        The ones that use there precious time to prepare and establish a gameplan, the better there chances will be to survive. When this collapse is over it is possible we will be living in a period that closely resembles the 1850′s.
        This site opened my eyes and now I just need a few more kicks of the can to get the rest of my resources. Try to look at the big picture with the articles and stop critiquing little things that don’t matter. Elephant in the room. Big picture people. Add one more person to the list that gets it and thanks you Michael. May God see you out of the corner of his eye always.

  • Sierra Dave

    Call me apocalyptic, it will be pure chaos when the Dollar tanks.

    We live in a JIT (Just In Time)economy. When there is no currency, there will be no flow of goods. The banks will close in an emergency and ATM’s will be shut off. Grocery stores and gas stations will be cash and carry until they run out in a day or two.

    If the banks close, the long haul big rigs will be stranded as many use gas cards.

    Just like Weimar Germany, when the currency collapsed, the farmers sat on the food. The same will happen here.

    With so many people dependent on the government for income. When the checks stop, hungry/starving people will riot across the country.

    The cascade effect will lead to utility companies unable to provide services in a couple weeks or so. Your power company won’t accept eggs, milk, or chickens for payment. Nor could they buy coal or oil to supply their power plants with them.

    Money is the lubricant that allows the flow of goods and services in a modern society. Remove it and the whole machine comes to a grinding halt.

    Best to stock up ASAP. Human society will continue, albeit a reduced state. But getting through the chaos until things settle down could be a half year or more. The recovery could take decades.

    The Age of Fiat Currency is almost over.

    • mondobeyondo

      Reminds me of those glorious days in the early 30′s, when farmers would literally pour milk on the side of the road because prices were so low, they couldn’t sell it. The general public went hungry, or went to soup kitchens, because they had no money to buy food.

  • Arivernameddenial

    I must be in denial. I find it hard to belive that the entire economy will collaspe. I want to prepare, but I am far in debt. I am doing the best I can to not make matters worse for myself and family. We have made some progress in the past few years. I also trust God, to help us and do not want to live my life fretting about the economy. I do think that my home pantry needs to be replenished and I will be stocking up on essentials. I just keep hearing that our economy will collaspe,”eventually” and that all these survivalist companies are making big bucks via fear. I am looking for rational balance.

    • josh

      rational balance = food, water.

    • Michael

      It is already slowly collapsing. The collapse will get faster and faster as time goes by.

  • karen

    Folks should read the stuff from pastor Lindsey williams you will be really amazed, he says a lot of things you do in your articles, and that the debit ceiling will not be raised and all will crash.

    • In4mayshun

      Lindsey Williams did not say that the debt ceiling will not be raised. He stated that regardless of whether it is raised or not, the dollar will still be removed as the worlds reserve currency by the end of 2012. Trust me, the debt ceiling WILL be raised…just in time of course.

  • bobbobbobbob

    there u go again blaming the dems. lets seewho is really to blame google “walmart peasant insurance” and see what your great terroristcorp thinks of american workers=pesants I DARE U

    • Michael

      I think that I am quite hard on both Democrats and Republicans.

      I know this offends a lot of people, but I am going to call out both parties for what they are doing wrong.


      • A.S.

        Be hard on the Congress that put the Federal Reserve into power and made the Income Tax Amendment. Both were UnConstitutional and they know it, and yet, here we are almost 100 years later. If our new Congress wants to do something good, they should destroy the Federal Reserve and rescind the Income Tax Amendment.


    The Federal Reserve and the entire Banking Cabal
    is responsible for our dire economic state.
    Paid off politicians have looked the other way and our justice system has been tainted.
    It is time for the system to change and be put back into the hands of the people.
    Chaos and collapse may be the only thing that can bring back the rule of law and true economic sanity to our nation.
    THe elite of the world have brought us to this
    final chapter on purpose through deception of the masses to eventually assume total authority
    over the populations of the world. The United States is run by the marcing orders of the elite.
    Republican or Democrate it doesn`t matter since
    orders are being given from behind the curtain.
    Your not in Kansas any longer!!!


  • mark

    We can’t have it both ways. We talk about how to start working towards repairing this economy,but at the same time pols will not make the cuts to even try. The more we kick the can down the road the more power the progresives have to turn us into their idea of a country. I understand the need to prepare and the more that do so the better off freedom loving peolpe will be. If enough folks take the time to do it now, what a difference it would make. It seems to be wishful thinking enough will take heed and buy food or other supplies for their needs. When the collaspe occurs it will be hard if not possiable to buy these things. If the debt ceiling is not raised, the cuts will take place very quickly and we will go into a much deeper depression than the light one we are now in. How bad it will get is not known. It depends on who ruthless people will become. I do believe the longer we put off this debt problem the more pain we will endure in the future. It is time for families in this country to start taking care of the elderly themselves, for social security has to change. I understand that nobody likes to discuss the third rail, but we must. We are broke and there is no trust fund with money in it. Most of the money that I paid went to pay for my parents benifits. It is just another tax that is supposed to go into the general treasury. If you don’t believe me look up Helvring vs Davis from May of 1937. I know the pols have promised you a rose garden, but the flowers have been already cut and all that is left are a bunch of thorns. Wake up America and let’s depend on ourselves for a change and not some political type from Washington.

  • estamos jodidos

    Hmmm, US Debt? Imagine you get are driving a car. You stop at a light, then when you start, you find the Accelerator is stuck in the full throttle position, and the brakes don’t work. You are now in a scenario where a crash is inevitable. Should you try to deliberately crash the car immediately when the probable outcome is of lesser consequence? Or do you try to avoid traffic, swerving and speeding up, hoping against hope that the problem will fix itself? When you find that there is no way that this will end well, perhaps you should go for the least catastrophic outcome.

    BTW, Thank you for your blog. This is insightful and timely. I appreciate the efforts you put forth in trying to get people informed, and at least challenging them to be aware and to think about our current situation.

  • greg L

    The government is going to pull out all the tricks this year and next for the election. Then watch out for 2013.

  • McKinley Morganfield

    The sky is falling default hysteria is male bovine excrement. Somewhere around $30 billion is due to bond holders come August. Incoming tax revenues from July will easily cover that amount many times over. Geithner & his boss are threatening to intentionally default by choosing to not pay bond holders, something which they will never do.

    The Bernanke, as noted in this article, has created trillions in the last 3 years; funneling over $3.5 trillion into Geithner’s hands during this period of time. So even if there was nothing in the Treasury to pay the bond coming due in August, Bernanke would create another $30 billion in a few seconds. The power players – Obama, Geithner, Bernanke, congress, the big banks, the IMF, S&P, and all the other bond rating agencies around the world – know this is true.

    Don’t buy into this faux crisis. They are trying to get you to take your eye off the ball. They are using the public’s ignorance as an excuse to keep kicking the can down the road instead of making the hard decisions necessary to address our debt crisis.

    • JKLong

      We will just have to see what happens. Prepare as you see fit and keep your trust in the good lord. Those who do will make it through and the ones who simply deny the truth and go about their immoral happy go lucky facebook lives will be in for a surprise.

  • Paul

    Like the stock market.
    The first buyer at an IPO really invests money in a company, anyone who later buys his shares and all following buyers speculate on the rise and fall of the price of these shares, and the expectations of dividends.

    The last owner is the loser. He can’t sell his shares when nobody wants them.

  • Alan Emerson

    Refusing to raise the debt ceiling is not the same as a default. It is the same as cutting up the credit cards. The federal government would be forced to live within its means.

  • Otown Right Guy

    How can the Fed say QE2 is ending when they are still going to “purchase” treasuries? Of course, they have no choice, because otherwise there would be a domino-like default chain reaching around the world many times over. The answer to failed central planning is always more central planning.

    Got gold? or silver?

  • James

    “I hope you are making good use of the time you still have left.”

    In 2007, when SHTF in real estate (at least where we live), my wife and I scrambled to clean up our lives before we were taken down. We sold our 2 houses at a loss, we got degrees in healthcare (using our savings), and we decided not to have children. Ever. Today, we rent a house that is in foreclosure and will be going up for auction in a town where there really is no money left. We each drive used vehicles with no car note on them. We have taken multiple classes on self defense using firearms and we’ve built a mobile stockpile of necessities. We have a friend who planned ahead of us and bought an abandoned campground years ago about 100 miles away with a stocked pond and its next to a 10,000 acre nature preserve. We are looking into building cob houses on that property and so far, its working out well.

    Sadly, most people I know and work with have no idea of what’s coming and are indeed not making good use of their time. One fellow I know is moving to California for “work” in a few days and his health insurance just ran out. He’s a recovering addict and has no college degree. Another guy I know just moved to Florida for work and also to go to school. Florida guy just found out when he got there that the job was gone. We have multiple friends who are getting married and plan on starting big families.

    Do they read the news? The REAL news? Sadly, no. And they do not listen to the gentle words I use in warning them of what is to come. What else can one do? It seems hopeless for the masses. It is a great burden at times, to feel like you know a powerful secret that can take down the world as we know it. But it’s not a secret. It’s in front of everyone’s face. They just ignore it or are too stupid to decipher it’s meaning.

    None of us really know how badly society will collapse. America has many bright minds still and hard workers too. I think there will be a brief period of anarchy and whomever survives will be left with the privileged task of starting over. But I may be wrong. The collapse may be devastating and there may be no return to what once was.

    “I hope you are making good use of the time you still have left.”

    You’re ************ right, Mike. You can bet on it.

    • Johnny Paycheck

      Glad to hear you took some self-defense classes. Those guns will keep you safe for a day or two when Mad Max and The Road Warriors come to eat your dried food, steal your women and burn your camp to the ground.

      And let me know how it works out when you try to drop-kick a sixty foot wall of water and one hundred foot wide crack in the ground (the way things are going).

      • Green Mountain

        Hey Paycheck: If you don’t have anything nice to say to anyone, why don’t you just pack up your hate-filled nonsense and get out of here. No one will miss you.

      • Save the Republic

        So Johnny, what exactly have you been doing to prepare that has so much more of a positive outlook than James?

      • James

        I read your reply twice and I looked up apocalyptic movies. You do realize you have referenced Mad Max, Road Warrior, The Road, Deep Impact, and 2012, all movies that portray a future that has almost no chance of actually happening? Self defense is just a small percentage of what what time will be devoted to survival. I could go on but I think it would be in your best interest to turn the TV off and pick up a good book (Start with The Encyclopedia of Country Living). If you’re on this site, then you must be concerned about the future. That’s good. Try not to waste your valuable time with hollow critiques that help no one.

        Be well.

  • Nostraquedeo

    A default and collapse is the only way to wake people up. You have to let the addict hit bottom hard not soft. As for the rest of world, we have carried them long enough. They don’t even realize how dependent they are on us. Maybe if they were on their own for a while they would learn to appreciate the US again. The whole system is whickered so let’s start fresh. Let go back to our founding ideals. Why support a system that tries to destroy our foundation.

  • Gary2

    What we are doing is not working.

    So what is the answer?

    Again Michael this is an easy one.

    tax the rich and spread the wealth! (I bet you knew that was what I was going to say:)

    • josh

      when collapse happens will you shut it about taxing the rich?

    • doctorjay317

      Tax the rich? How naive can you get?

      Tax laws are written by the rich.

      Would you drop a hammer on your own foot?

      There are so many of the ‘other guy’ around.

      Let them foot the bill.

  • http://myhome todd


  • patriot Alice

    If the world’s banks can’t even survive the collapse of Greece, which is the tip of the Derivatives (Credit Swaps) uninsured $500 trillions+ ICEBERG, **** we are in the last years of the world as we’ve known it….More bailouts for the PIIS of Europe, shadow defaulters waiting in the bushes, and the USA are coming…Debt upon debt is their solution….It’s all they have left…****…

  • http://theeconomiccollapse jackieR

    Businesses can move off shore when they feel that taxes/regs have gone too high. Now for mainstreet, where can they go in order to take advantage of less taxation? We cannot afford to bail and we also cannot tell someone that we are going to raise fees or more taxes so we can find a new source of revenue. Where are we going to find more revenue to keep paying for everything going up every year? When will things start going down for a change?

  • Anthony

    What I would like to hear is what people really think will happen when the system comes crashing down. I don’t deny that it WILL come crashing down in one way or another, but you can’t really believe that TPTB don’t have an idea of what’s going to go down, they engineered it with the help of the banks and corporations. They will control the outcome. So what are the US and the world going to look like in five years?


    “The merchants of these wares, who gained wealth from her, will stand far off, in fear of her torment, weeping and mourning aloud, ‘Alas, alas, for the great city that was clothed in fine linen, in purple and scarlet, adorned with gold, with jewels, and with pearls! For in a single hour all this wealth has been laid waste.’ And all shipmasters and seafaring men, sailors and all whose trade is on the sea, stood far off and cried out as they saw the smoke of her burning, ‘What city was like the great city?’ And they threw dust on their heads as they wept and mourned, crying out, ‘Alas, alas, for the great city where all who had ships at sea grew rich by her wealth! For in a single hour she has been laid waste.’ Rejoice over her, O heaven, and you saints and apostles and prophets,for God has given judgment for you against her!”

  • Maria

    Inside Job – Charles Ferguson

    Watch it!

    It will blow your mind!

    Rated PG-13 and is not for children.

  • stan

    We have a huge brewing crisis, and at this most important time in our history, we have the most inept leader we have ever had. I listened to Obama’s news conference yesterday for a while till I got sick. He is pathetic. I still can’t believe he is our president.

    What a mess.

  • Markus

    Default USA means these:
    1. closing down all foreign military bases, disengage from most world scenarios including Afghanistan… do you know how much all the US war machine costs?
    2. devalue the dollar by 90% or more, all prices will skyrocket, especially oil for private transportation hence:
    a. collapse of the food chain transfer.
    b. immediate stop of all gov related money transfers.
    BRIC will rule the world in less then 5 years and they will impose USA the toughest measures ever conceived. Just like the 50 years separation of Germany was decided in Yalta during the WW2, a dismembering of USA could be imposed on the federal structure by simply not accepting federal currencies but only single state one’s backed by local commodities.
    Wait and see.

  • Covington

    For all intensive purposes by virtue of the “Feds” money printing, QE1 or QE2 (whatever you call it)the US is already defaulting on its loans. The elite know that the debt is unpayable even if the Gov’t were to raise taxes 100% or confiscate a 100% of the wealth. The only option is to print money. To pay the debt with more dollars but of less value. This a stealth default which buys time along the way to introduce the New World Order gradually. That is what this whole excercise is ultimately about.

  • mondobeyondo

    I’m not that worried about the debt ceiling. It’s just political theater, and not very good theater either. If I wanted to see a real play, I’d rather watch Hamlet, or maybe West Side Story (sigh.) Point is, they’re gonna raise the debt ceiling. They always raise it.

    When August 3rd comes around, you’ll find that the debt ceiling will have been raised to $17.6 trillion dollars. The credit line on Congress’s Visa card will get another extension. Everything will be just fine and dandy. For a little while longer at least.

    • mondobeyondo

      $17.6 trillion is just a shot in the dark. Just picked some arbitrary number out of thin air. If they do in fact raise it to $17.6 trillion… I will be very scared! I’m not a prophet or psychic…

  • Sierra Dave

    todd – America is one of the biggest funders of the IMF. Even in this “kick the can” environment. I don’t see how the IMF will get the money to bail us out.

    jakieR – Part of Texas’s job growth is businesses moving WITHIN the US to the most business friendly environment possible.

    Now we have word Geithner is leaving. Let’s see if he goes to work at some bank that made billion$ do to his polices or if he heads for the hills.

  • DownWithLibs

    I am especially enjoying the other Obama Admin. tactic of “Divide and Conquer” through class warfare. They just don’t let up.

    Thanks for helping me connect the dots on these complex issues.

  • Johnny Paycheck

    On the bright side, at least we will have Obamacare. If I can shoot my way to a dentist, I’ll barter with him to finally remove my wisdom teeth. Maybe he will accept my collection of BeeGees records.

    Let’s hope he has some ether and novacaine left over.

    • mondobeyondo

      Yup, gotta love Obamacare… Dr. Spock could do the major brain surgery, Dr. Pepper could provide the IV infusion, and Dr. Greenthumb could supply you with all the drugs you need. And you’ll get a nice big bill from Aetna, too! Open it, and you may get a heart attack. Oh no, back to the ER AGAIN?!?

    • moses737

      Sorry Johnny Paycheck. Your paycheck is obviously not to high. Because if it were; you wouldn’t need Obama Care. Yet, Obama Care will be the finishing touch of the globalist International Bankers/Illuminati devils to say who lives and who dies. It will give Obama and the coming Presidents the ability to control life in America. And it is a very dangerous and evil law and bill and will lead to our total enslavement.

      Rely on Jesus for you health care; and don’t take their coming, mark of the beast chip, that will turn you into their zombie brainless slave, when you take it. And if you take their mark (chip) in your forehead or hand; you will forever be cursed by God, 24/7, and forever, because it will mean that you have joined Satan and his antichrist beast leader and their workers; according to Revelation 13 and 14:9-11.

  • PaulF

    Sierra Dave, you must be a Java programmer.

    “There you go again, blaming the Dems.” Is this the FIRST essay of Michael’s you’ve read??

    As for the threats of doom over a shutdown – it’s political posturing. This plays into the Democrats’ hands.


    For as much therefore as your treading is on the poor, and you take from him burdens of wheat: you have built houses of hewn stone, but you shall not dwell in them; you have planted pleasant vineyards, but you shall not drink wine of them.

  • Matt


    People are giving you a hard time over supposed “contradictions” in this article but I really don’t see them. We are in an extremely terrible position. Yes, a default will be catastrophic; but so is kicking the can down the road another year or two.

    I myself am coming from the position that this corporate-controlled kleptocracy of a government we live under wants collapse, wants chaos, wants riots, wants a starving and desperate population who will beg for the federal government to step in and offer them salvation.

    At that point of desperation the population will accept the curtailment of civil liberties and will beg for what they’ll view as a benevolent savior government when in fact it will be a draconian high-tech fascist state of such an absolutely horrific degree it’ll make the Nazi or Soviets look like Jains.

    Thanks for all of your work!


  • http://home todd


  • http://YAHOO RICHARD


  • Forte

    I know this is irrelevant but have you guys noticed how the NFL and the NBA are now having lockouts. Well i think this is being done to lower the moral of US Americans. Everything is going down the drain, there’s nothing to look forward.

  • Vic

    If ever there was a time to turn towards the Lord in personal and national repentance, it is now. He is the only one capable of delivering his own from this morass of our own making. All who trust in man and man-made solutions will be sorely disappointed. This is not to say that we shouldn’t prepare. We should. But preparation without faith is trusting in the hand of man, and is folly.

  • Sierra Dave

    PaulF – I’m not a programmer. And my post does NOT point to either Democrats or Republicans. They are both equally responsible.

    I look to history and cause and effect. Many of us have war-gamed how a collapse might play out.

    Todd – Any legal or bureaucratic wranglings will have to be quick. 1-2 days without resupplying food and fuel distribution centers will lead to riots. If the chaos gets too widespread. There won’t be any way to stop the avalanche.

  • Glench

    Raising the debt ceiling will simply enable our politicians to continue wasting our tax dollars.

    Not raising the debt ceiling will force the government to finally do a reality check on itself, and hopefully cause the stooges in power to pull our troops out of the mideast, downsize the government beaurocracy, cut entitlements (welfare) to those that bleed the system, scrap the IRS as Ron Paul has stated, scrap corporate taxes and regulations so more people will find jobs, and invoke a trade policy along the line that states ‘if you want to sell your goods here, they have to be manufactured here from start to finish (no final assembly crap)’…

    Anyone who thinks the government should raise the debt ceiling is a fool…

  • A.Thought

    Well I have been reading most of this communities thoughts for some months now and we always seem like we worry about details of this or that. I would hope that most of you are using your remaining time to fulfill your Great Commision and gently encouraging others to find their Creator’s Hand in all of this. I’m not talking fire and brimstone but in the love we all should be having for one another. I mean some of us believe that this is the close of the Age of Grace. And we are all running out of time to make ourselves right with Him and eternity. It’s a decision each of us are held to account to and it breaks my heart to think that most in this community are missing the boat completely. This is not a boat you want anyone to be missing. Marantha – a thought

    • Michael

      That is a very good thought.


  • TucsonKK

    A few very wrong things in this article-
    Some corporations pay very little tax using tax code “LOOPHOLES” and yes they don’t want any rules(pollute our earth,fracking,dump waste in our water,wall street failures,etc) They are overseas for cheap labor!
    Maybe if they paid their fair share and we stopped all the wars and yes modify entilement programs and food stamp programs we really could get our debt under control.
    GREED & POWER are in control.

  • Ben Dover (America)

    What can Americans do to fight the New World Order?

    1. Turn off or throw away your T.V.
    2. Think for yourself.
    3. Question all so-called ‘Authority’
    4. Get out, and/or stay out, of debt!
    5. Use cash, trade or barter as much as possible, rather than debit cards and credit cards
    6. Get rid of grocery store ‘discount’ cards –grocery stores provide this information to insurance companies.
    7. Bank at a Credit Union, or any alternative to the ‘TBTF’ Banks, that participated in the 2008 Banker Bailout.
    8. Invest as much as you reasonably can in precious metals – especially silver.
    9. You have the right to own a firearm, to protect yourself,and your family. Read the 2nd Amendment.
    10. Buy products “Made in America”
    11. Start your own garden
    13. Meditate or pray – reduce your stress!
    14. Get exercise!
    15. Read a book (here is an excellent book recommendation: Psychological Warfare and the New World Order:The Secret War Against the American People )
    16. Listen to soothing classical, jazz, ambient, or other alternative music
    17. Watch ‘Freedom to Fascism’–a film by Aaron Russo (can be found here:
    18. Watch ‘Why We Fight’–a film by Eugene Jarecki (can be found here:…r_embedded)
    19. Watch ‘Endgame’–a film by Alex Jones (can be found here:
    20. Below is advice from John Perkins’ book, entitled THE SECRET HISTORY OF THE AMERICAN EMPIRE (The Truth About Economic Hit Men,Jackals,And How To Change The World), pp. 322-329.

    “AVOID SHOPPING AS ‘RETAIL THERAPY’ (Instead, jog, meditate, read, or find some other solution).
    SHOP CONSCIOUSLY – if there is something you must have, purchase items whose packaging, ingredients, and methods of production are sustainable and support life.
    PURCHASE AT CONSIGNMENT AND THRIFT STORES –where everything is recycled.
    Write letters telling Monsanto, De Beers, ExxonMobil, Adidas, Ford, GE, Coca-Cola, WALMART, and other labor exploiters and environment destroyers
    DOWNSIZE (your car, home, wardrobe) – everything in your life (and don’t buy what you don’t need)
    SUPPORT/SEND MONEY only to non-profits, radio stations, and other organizations that promote JUST causes.
    VOLUNTEER your time and energy to such organizations.
    ENCOURAGE stores to buy from local growers, producers, and suppliers.
    Shop at your LOCAL FARMERS’ MARKET
    AVOID DRINKING WATER THAT IS FLUORIDATED (only your toothpaste should have non-industrial fluoride)
    INSIST that those who use your money – banks, pensions, mutual funds, companies – make socially and environmentally responsible investments.”
    21. Invest in precious metals (especially silver).
    22. Research every company whose products or services you buy
    23. Research every organization to which you donate your hard-earned money
    24. Vote with your dollars!
    25. Watch ‘The Secret of Oz’– a film by William T. Still (can be found here:
    26. Get prepared for when the U.S. dollar TOTALLY COLLAPSES – You’ll need 1) Water, 2) Food, 3) Vital Medicine 4) First Aid Kit, etc.
    27. Global, non-violent, NON-COMPLIANCE is the answer, of We the Plebs, to the ‘elite’ New World Order!
    28. Find alternatives to EVERYTHING that they’ve set up, to entrap you in THEIR system.
    29. What would happen if 200 MILLION AMERICANS refused to pay their taxes, in 2012? (Just a hypothetical question)
    30. Familiarize yourself with the concept of BOYCOTT
    31. Corporate Membership in the CFR (Council on Foreign Relations):
    32. Don’t ever join a ‘secret’ society
    33. Watch ‘Global Warming or Global Governance’ ( )
    34. Educate yourself. Thomas Jefferson: “If a nation expects to be ignorant & free, in a state of civilisation, it expects what never was & never will be.”

    Expand the above list,and share it with everyone you know!

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