Americas IOU is at least 3 years overdue.

The documentary I.O.U.S.A has been discussed HERE on ATS but only briefly with little interest back in 2008.

It is now available on youtube and has been for quite some time:



In this documentary movie which was put together by the head of the Government Accounting Office (GAO), a bleak picture of what was projected to happen with our economy if no action was taken by get this... 2010. Well it's 2013 and not only did we not do anything about the exconomy, we exaserbated the problem by doubling the debt!!

Please take a look in the rear view mirror by watching this. Spread the word that our government, knowing where we were headed, did worse than nothing, they made the problem worse.

Past time to fix it. Not sure what to do next except prepare for the worse...

The man responsible for this video, David Walker, was the Controller General of the USA.

Paul Oneill, the Tresaury Secretary stood up to the Bush administration who wanted to hide the truth. Bush asked him to resign and he refused so Bush fired him. In turn he wrote a book to tell the story to anyone who would listen. Ultimately he was included with a few others who put this documentary together and making it available for free.

Honorable man. Do him a favor and watch it instead of getting lost in the other diversionary topics that the Bankers and Media (including ATS members) put out there as a distraction. They dont want you to pay attention to whats happening and we are so close to financial collapse it is scary.

I thought their debt was almost 12 years over due 9/11 .. China and the rest of Asia want their gold back .

reply to post by freedomSlave


You are probably correct. 2008 was the wake up call for me. Thats when I started really following the debt issue. Thats also when I watched this video. Simply un-acceptable that they havent taken any reasonable steps to address the issue.

Originally posted by freedomSlave
I thought their debt was almost 12 years over due 9/11 .. China and the rest of Asia want their gold back .

Dont forget the very high profile story about Germany re-patriating their gold.

We may be pretty close to a market crash. The market has been going euphorically upwards for a while now, with absolutely nothing to support it, other than the fed intervening.

Note that, with all past market crashes and the resultant financial panic, the market was unrealistically high beforehand. Just like now.

Many of the corporate insiders are selling their shares of stock they hold in their own companies. Also, the put options on the VIX (panic index) are at record numbers. The VIX is an index which bets on the stock market going down.

Don't know when it's going to happen, but the put options expire in April.

I know this thread is about America's IOU, but as the gov't goes, so goes the stock market....and the rest of us.

reply to post by FissionSurplus


Absolutely on topic. Thanks for contributing. I see this coming too. Soon! Personally I think the end of this quarter could hold surprise for most. I'm ready...

since the economy is a debt based one,
i'd think it's doing better than ever!


suckers!

Good, I just ordered 500 1 oz Silver Eagle coins in Green Monster Box and a 1oz Gold Royal Canadian Mint Bar to be shipped to me here in the UK. Great thing is, I also dodge my countries tax on silver lololol.

Screw the banks.

reply to post by Tuttle


I'm afraid that, based on the past, the screwed will be the people.

Originally posted by Tuttle
Good, I just ordered 500 1 oz Silver Eagle coins in Green Monster Box and a 1oz Gold Royal Canadian Mint Bar to be shipped to me here in the UK. Great thing is, I also dodge my countries tax on silver lololol.

Screw the banks.

Gold and silver will only serve you up until the store shelfs run dry. after that nobody will care about prescious metals. Food, water and survival skills along with a good plan will rule the day.

We had a water main break and people were fighting for bottled water in the stores. This happened when you just had to drive 15 or 20 minutes farther and there were no water shortages. When SHTF, you wont be able to drive as gas will be gone. Even if you have gas, the shortages will be everywhere. This is serious stuff.

reply to post by Mike.Ockizard


Gold and silver will always be worth something man, even in the craziest post apocalyptic scenario you can think off, shiny shinnies will always be worth somethin.

My thinking is however, before The Final War kicks off, gold, silver and other assorted precious metals will basicaly go through the roof, when they do I will trade the majority off it back into monopoly paper and use this soon to be worthless paper to buy provisions.

Kinda like how China are hemorrhaging dollars with vast building projects in Africa just to get rid of them lol while there still worth at least something.

As for survival, I live in a vast wilderness of resources, fresh running water, wild plants, abundance of wild animals, I pretty much live in the country. Should be fine eh.

reply to post by Tuttle


You are more fortunate than I to be close to nature. I'll have to travel by vehicle for at least an hour to begin to get further away from mass population.

On the prescious metals, I dont see them have any real value if you hold on to them through the initial downfall, until civilisation reforms and people arent as worried about food/water/essentials. After all, when you are in desperate need of the essentials, whats worth more? A gold coin or a glass of water etc. Firearms with ammunition will also be invaluable. There will be lots of gun but ammo will be hard to come by.

Originally posted by Mike.Ockizard
reply to post by FissionSurplus

 

Absolutely on topic. Thanks for contributing. I see this coming too. Soon! Personally I think the end of this quarter could hold surprise for most. I'm ready...

edit on 10-2-2013 by Mike.Ockizard because: (no reason given)

We're ready too. I've been buying extra food for storage for 2 years now, we have silver and gold, and we doubled-down on buying the VIX panic index. It's been nice and low in price lately. We typically daytrade, but we'll hold onto that puppy, because one day soon we'll wake up and and the stock chart will be a straight line up, climbing the wall.

Not that I'm glad that the market will be crashing, but forewarned is forearmed.

Thank you for sharing this. Watched this tonight. Very eye opening. Can't believe that nothing has been done to stop this.

reply to post by CatrionaBeldame


Whats worse is that they not only didnt stop it, they compounded the problem by throwing trillions more in debt at it.

reply to post by FissionSurplus


Fission, can I just buy the VIX like a stock and just hold on until a crash? or is it for option traders only?

I too see a crash as inevitable and would like to profit.

Looks like they took the video down. Heres another source