US is in Trillion Dollars in Debt

Ok, here's what I found. Plz say something else than "this isn't true."
This money isn't gonna be payed back.



US Debt Clock

[edit on 16-6-2006 by Qwazzy]

mod edit: all cap title



[edit on 16-6-2006 by sanctum]

Yup its pretty true alright...

How accurate is your Debt Clock?

A: As accurate as I can make it! Every business day, the U.S. Treasury department releases new Debt figures for the previous day. I periodically get these figures and use them to adjust the Debt Clock's value so it remains accurate.

I, or rather the CGI code I wrote for the Debt Clock, then calculate the current value of the Debt by a simple linear extrapolation between the recent date's value and the value for the debt about a year previously.

I also get up to date population figures from the Census Department's Population Clock and use this to calculate each person's share of the total debt.

well it is...if thats true which i'd say it is

its the US feels they have to take care of the world and stop danger to mankind, but still be afraid to go to the hood at night

Fort Knox could pay off most of the national debt. With gold price the way they are its over 6 Trillion in gold in Fort Knox alone.

Originally posted by ShadowXIX
Fort Knox could pay off most of the national debt. With gold price the way they are its over 6 Trillion in gold in Fort Knox alone.

Or if you believe this site. No gold, nothing to pay with. Wouldn't surprise me at all.

www.apfn.net...

In the 1970's a very courageous gentleman named Edward Durrell claimed that
substantially all of the US Gold Reserve being stored at Ft. Knox was gone.
Only 1,000 tonnes or so of the 8,500 tonnes supposedly being stored there
remained. The rest had been secretly taken from Ft. Knox and shipped to
London in 1967 and early 1968 for sale by President Johnson in an ill-fated
attempt to keep the price of Gold at $35 per ounce.

Yes I remember that theory whiched turned out to be a hoax when the Gold vaults were open to prove the gold was there after that fiasco.

Local official made them prove the gold was there after those false rumours. It was a big event.

i dont believe that story but, for sure the US is broke an doesnt have a dime to add to there name. get over it shadow america its the greatest country in the world anymore

Originally posted by DalairTheGreat
i dont believe that story but, for sure the US is broke an doesnt have a dime to add to there name. get over it shadow america its the greatest country in the world anymore

Well that shows a poor understanding of how much the US is worth. Fort Knox was just a example to show how small 8 Trillion is too a country worth as much as the US.

Debt compared to GDP (Which is more important) theres alot of countries that worst off then the US 34 infact The US is the 35th most indebted country in the world by percentage of GDP at 64.7% of GDP

Heres a list of countries more indebt then the US

1 Uruguay 793.40 June 2005 est.
2 Malawi 208.60 2005 est.
3 Japan 170.00 2005 est.
4 Lebanon 170.00 2005 est.
5 Jamaica 135.00 2005 est.
6 Nicaragua 130.00 2005 est.
7 Seychelles 129.70 2005 est.
8 Greece 108.90 2005 est.
9 Italy 107.30 2005 est.
10 Zambia 104.20 2005 est.
11 Singapore 102.00 2005 est.
12 Israel 101.00 2005 est.
13 Sri Lanka 98.50 2005 est.
14 Belgium 93.60 2005 est.
15 Egypt 93.60 2005 est.
16 India 82.00 2005 est.
17 Ghana 80.10 2005 est.
18 Sudan 79.00 2005 est.
19 Jordan 77.70 2005 est.
20 Philippines 77.40 2005 est.
21 Vietnam 75.50 2005 est.
22 Panama 73.20 2005 est.
23 Moldova 72.90 2005 est.
24 Morocco 72.30 2005 est.
25 Cyprus 72.00 2005 est.
26 Honduras 70.50 2005 est.
27 Cote d'Ivoire 70.40 2005 est.
28 Portugal 69.40 2005 est.
29 Argentina 69.00 June 2005
30 Germany 68.10 2005 est.
31 Turkey 67.50 2005 est.
32 Kenya 67.40 2005 est.
33 France 66.50 2005 est.
34 Cameroon 64.80 2005 est

LINK

Man so if the US is " broke an doesnt have a dime to add to there name" Japan, Germany, France, Israel, Greece ETC.. must really be doomed

...the cia is part of the the us, do you really think we go "hey were in debt up to our eyeballs"

no

The majority of the world's gold is in the IMF. Check it out.

And as for the U.S.: most of the trillions the U.S. owe to the federal reserve, which is of course a private corporation and not a government institution.

Check out the "Money Masters" movie on video.google.com for more info.

Originally posted by DalairTheGreat
...the cia is part of the the us, do you really think we go "hey were in debt up to our eyeballs"

no

Oh so your saying they are making up debt and GDP numbers for other nations? Or perhaps they are making up the US Debt and GDP numbers

Thats ridiculous speculation until you produce any evidence that those numbers are false. You make the wild claim you need to provide the evidence to back it up or its worthless.

Originally posted by ShadowXIX
Fort Knox could pay off most of the national debt. With gold price the way they are its over 6 Trillion in gold in Fort Knox alone.

According to Wiki, the current US gold reserves of 8133.5t are worth around $180billion. Where did you get the figure of $6 trillion from? At an optimistic price of $700 per ounce that would be 243,000 tonnes of gold which is nearly two and a half times more than the estimates of all of the un-mined gold in the world.

Wiki Link

edited to add link

[edit on 17-6-2006 by Chris McGee]

Oh so your saying they are making up debt and GDP numbers for other nations? Or perhaps they are making up the US Debt and GDP numbers

Thats ridiculous speculation until you produce any evidence that those numbers are false. You make the wild claim you need to provide the evidence to back it up or its worthless.

yea im saying the government likely made up the information for the us debt.
lots of schools use that resource along with adult. If we all knew the government was in debt worse than other contries. it would make us lot ,not as good,.


[Quote]According to Wiki, the current US gold reserves of 8133.5t are worth around $180billion. Where did you get the figure of $6 trillion from? At an optimistic price of $700 per ounce that would be 243,000 tonnes of gold which is nearly two and a half times more than the estimates of all of the un-mined gold in the world
exactly, dont believe anything the government tells u shadow, they lie to make us feel better

Who are they (and all the other countries) in debt to?

Originally posted by DalairTheGreat
[Quote]According to Wiki, the current US gold reserves of 8133.5t are worth around $180billion. Where did you get the figure of $6 trillion from? At an optimistic price of $700 per ounce that would be 243,000 tonnes of gold which is nearly two and a half times more than the estimates of all of the un-mined gold in the world

exactly, dont believe anything the government tells u shadow, they lie to make us feel better

I got it from here
www.govmint.com...
But I didnt check the math which was a mistake since once you know the total ounces in Front Knox its quite easy.

You still havent produced a single shred of evidence that those Debt numbers I posted were wrong and they show alot of countries more indebted then the US. Your claim is just wild unbacked speculation until you produce any evidence.

I can argue there really is no debt and the goverment just made it up and I would have with the same amount of evidence as your arguement.

Originally posted by ed 209
Who are they (and all the other countries) in debt to?

Mainly the "money changers" aka the international bankers.

Originally posted by ShadowXIX
I got it from here
www.govmint.com...
But I didnt check the math which was a mistake since once you know the total ounces in Front Knox its quite easy.

Thats really quite strange. 147 million ounces gives a value of about $100 billion at a price of $700 per ounce. This is in line with other sites i've looked at which all put the total US gold reserve at around $180 billion.

How (and why) did they come up with $6 trillion?

On topic(and taking the debt in isolation), as a percentage of GDP it's not that bad. I'd be worried about running a large budget deficit for too long but again, the growth of the economy may be able to nullify the effects of that to an extent. They'd run into real problems if it came to a recessionary or low growth situation, though.

There isn't much better source for data on the US Government's debt than the Federal Reserve itself:

research.stlouisfed.org...

The only debt number that I myself find problematic is that which is owed to foreign investors, about $2.1 Trillion. $755 billion is owned by the the Federal Reserve itself. The rest is owned by private US investors, as well as US Federal, State, and local government agencies.

Originally posted by Chris McGee
Thats really quite strange. 147 million ounces gives a value of about $100 billion at a price of $700 per ounce. This is in line with other sites i've looked at which all put the total US gold reserve at around $180 billion.

How (and why) did they come up with $6 trillion?

I dont know why they made such a glaring error

I apologize again for using that sites information as fact.

Good thing our debt doesn't have to be paid off in "real" money such as Gold or silver.