CountDown To Collapse?

SIC SEMPER TYRANNIS!!!
Mark Matheny
July 15, 2011

If there is anyone out there who believes that Congress and the President will somehow come to their senses and decide to cut spending while voting down the request to raise the debt limit - then you are living in Bizarro world along with those in congress and the President too!

The President has already made it clear that he will raise the debt ceiling, and Geithner has said the same thing in the recent past. It is clear to see that our Rogue government is not sincere in bringing about financial recovery due to the fact that they want to continue to raise the debt ceiling, instead of paying down the debt!
( 2+2=4 , not 5)!

Peter Schiff explains this simple formula that congress and the President are using against the American people, and that formula is called  a ponzi scheme. Threats are being used not only against the American people, but also those countries from which the United States are indebted to as well! According to Peter Schiff, the President is essentially telling China, and the other countries, " hey, if we can't keep borrowing money from you, then we will default on our loans, or simply print more moneyand pay you with devaluing currency."





Peter explains that it will only be a matter of time when the United States will have to restructure it debt due to its wreckless fiscal policies that have brought us to this disaster, and that the U.S. has defaulted before in 1971, when the U.S. dollar was taken off the gold standard. Basically the U.S. had promisary notes in the form of U.S. Federal Reserve notes that assured countries of being paid in gold. After 1971, we basically are now promising nothing to these creditors, and this is bad enough, but now Obama is using the debt ceiling more as a threat to these countries and to Americans.

Peter argues that those who are serious in congress need to vote against raising the debt ceiling, and get serious about cutting spending so that we can pay down the deficit.