More nails in the coffin? US hits legal limits of its debts

[Bioshock]

Here is an eye opening video of the future fall of the dollar and the loss of its position as the worlds reserve currency.

It is from Stansberry & Associates Investment research group.
http://yourdaddy.net/2010/12/20/the-end-of-america/

Also, as a side note to having the right person in goverment.There is no right person.
Everyone who is in power of a nation is being lead by people from behind the scene,aka a puppet.

I am going to mention a few thing that might seem very extreme but when looked at with
an objective eye you can truely only come to one conclusion.

My personal belief is that we are being hearded into a new world order.
If you want to make your own judgement on this then do so by research the following :
New World Order , Bilderberg Group , the 13 ruling families , Bohemian Grove , the one world currency

just my limited 2cents.

 

[Outlander]

There is something you are overlooking here. You are assuming that if we can't borrow more money then we will pay our bills first. Unfortunately, it has not worked that way for a long time. Because the dollar is the base for the International Monetary Fund we have the option to simply print more money. We know this is a very bad idea and will cause inflation, but as long as that option is on the table we will do it. This will cause a slow devaluation of the dollar and gradual inflation. The issue is that we are in such poor financial shape that it is now a very likely possibility that we will lose our position in the IMF as the dollar being the base currency. There are already powerful countries calling for that. If this happens the value of the dollar will plummet overnight and that is when we will see hyperinflation. We have to prevent that to have any chance of getting past this crisis.

If we do not put people in office that are really going to go after this problem then the rest of the world will eventually lose patients and drop the dollar from the IMF. I'm not a Trump supporter, but I will use something that happened to him to illustrate this. A couple of decades ago Trump was in serious trouble. He was over a hundred of million dollars in debt and the debts were due. He was unable to make the payments. If the banks had thought that he was unable to pull out of it they would have foreclosed on his properties, taken some loss and walked away. As it was, they did think he could recover and because of that they literally had hundreds of people working to figure out how to restructure the loans to save him. They did it because they had faith in him. If we don't get the right people in office in the 2012 election, there is a strong possibility that we will lose the faith of the international financial community and that is when they dump the dollar from the IMF and we are screwed. If they do that the U.S. will turn into third world country almost overnight.

Wow go abroad for two weeks and suddenly...BAM....here we have it! I tend to agree with you Bear and while I hope that "We the People" install the right leaders in 2012 we have to look at what we can do to lessen the impact on ourselves and our loved ones. As to being a third world country overnight......I believe we are a lot closer to the brink than most people realize or are willing to acknowledge.