US reaches debt ceiling tomorrow

Fact is, no one is talking about raising the debt ceiling.

Everyone is focused on Libya and Japan.

America will reach the debt ceiling PROBABLY TOMORROW.

When it's reached, no more deficit spending.

Also, the total debt, not just that subject to the ceiling, could pass the legal threshold as early as tomorrow (pro forma for settlement).

Of course, those suckers are probably gonna do a vote during the night and raise it... but you never know, if the tea party people hold the line and block the vote, it'll be fun.

Don't raise the debt ceiling : default.

Raise the debt ceiling : Bernanke will do QE3 and commodities will continue to skyrocket.

Or you know, the elite might decide to pull another crash while nobody is watching.... and this time it'll be the ultimate crash.


Even if congress wants to raise the debt ceiling, they still need to pass it in both houses... and they need the votes. That would probably take at least 2-3 days.

So government checks might be running late.

So what are the long term implications if the debt ceiling isn't raised?

Originally posted by princeguy
So what are the long term implications if the debt ceiling isn't raised?

Either cut the deficit to 0$... or print massive amounts of money.

Cut the deficit to 0$ : GDP crashes 10-15% in the first year.

Print massive amonts of money : hyperinflation.

reply to post by Vitchilo


Yeah, it's going to be very interesting but at the same time I feel like this will be a non-event. It will be interesting to see if the tea-party actually stick to their word.

Must be why they are pumping stocks so hard today, because when the ceiling is breached, its gonna crash and yields are going way up.

Well...


Raise the ceiling !1

Can you prove this? Do you have a source showing the debt ceiling, (credit limit) be reached?

Sorry. didn't see the link.
Zerohedge huh? How trustworthy are they?


Oh yeah, I predicted they would raise it weeks ago. I just know they will.

They will do everything they can to keep it going as long as they can. I believe the phrase " It'll work until it doesn't" fits this pretty well.

Originally posted by Vitchilo
Or you know, the elite might decide to pull another crash while nobody is watching.... and this time it'll be the ultimate crash.

[atsimg]http://files.abovetopsecret.com/images/member/bcfc336a0662.jpg[/atsimg]

They will just raise the ceiling
again

HYPERINFLATION here we come

To early into bogging you down in the war ,they wan't to pull the rugg out for certain .But they will need to get America more intrenched first .They want to default and cripple the country , but they need to soften your bellies somemore with hyperinflation .That way you will be more willing to work in ammunition factories for peanuts or join the armed forces for secure (but small) wages .

DEFAULT!!! We owe the money to a private banking cartel whose inception was to put We the People in debt and then extract everything they could from us! F them! Tell them to go pound salt and tell them to go find another country to savage. We don't owe these demons a dime!

I say we pay them back in copper jacketed lead. Copper is valuable as is lead. FRNs are worthless pieces of paper. We'll pay our debts using the aforementioned and if that is unacceptable they can go find another country to conquer with their fiat, BS, paper notes.

Trading my notes for copper jacketed lead has never bothered me. What bothers me is those running the show are hell bent on making sure those of us who see through their charade are disarmed.

LOL.......Good luck fellas!! It didn't work out too well for you in 1776 nor will it work out well for you in 2011!

It would be interesting to see if that earthquake predicted to happen on the 31st of this month occurs. That would be the perfect away for the elite to secretly rise the debt ceiling while tending to the crisis, although I seriously doubt the earthquake will happen.

Did you see this from the comments section of the link..........

Spending for FY 2011

~$3.3 trillion (or $3,300,000,000,000)

= $3.3 E+12 / 365 --> $9,041,195,890 per day

= $9,041,195,890 / 24 --> $376,712,329 per hour

= $376,712,329 / 60 --> $6,278,539 per minute

= $6,278,539 / 60 --> $104,642 per second

Hundred grand a second. There went another million while I typed this out.

Originally posted by bozzchem
DEFAULT!!! We owe the money to a private banking cartel whose inception was to put We the People in debt and then extract everything they could from us! F them! Tell them to go pound salt and tell them to go find another country to savage. We don't owe these demons a dime!

I say we pay them back in copper jacketed lead. Copper is valuable as is lead. FRNs are worthless pieces of paper. We'll pay our debts using the aforementioned and if that is unacceptable they can go find another country to conquer with their fiat, BS, paper notes.

Trading my notes for copper jacketed lead has never bothered me. What bothers me is those running the show are hell bent on making sure those of us who see through their charade are disarmed.

LOL.......Good luck fellas!! It didn't work out too well for you in 1776 nor will it work out well for you in 2011!

I concur. Default and maybe some foreign companies will come invest their money into some private companies in the US instead of dumping it to the treasury so these bastards can spend away whatever they want all backed up by money made off the sweat and toil of the American people.

If you have too much stuff in your house and it is stacked to the ceiling you either need a bigger house, or you need to have a garage sale.

- They could raise the ceiling
- Sell land and military secrets
- Allow the Fukushima reactors to blow up and then absorb Japan's top minds and companies into the U.S. while canceling the debt we owe them
- Set fire to the house and claim the insurance.

Then banksters and corporations have already gutted our country by looting as much money as they could from us and the FED, removing all manufacturing, and by moving millions of jobs overseas. Sounds like they are going to set fire to the house and allow it to crumble. But who knows maybe the next world changing false flag event will happen, or aliens will land. Or, maybe both.

Originally posted by Vitchilo

Originally posted by princeguy
So what are the long term implications if the debt ceiling isn't raised?

Either cut the deficit to 0$... or print massive amounts of money.

Cut the deficit to 0$ : GDP crashes 10-15% in the first year.

Print massive amonts of money : hyperinflation.

It's not that clear cut. If we need to print that much money just to keep at current economic levels, then how is it going to be hyper-inflationary?

The problem will always go back to issuing money as debt. A growing economy needs more and more money. Our economy has basically gone from 0 to 50 in the last several decades without the amount of actual money in circulation increasing by much. Debt is not money. The government should continue it's level of spending but they just need to do it with real hard printed money rather than borrowing money to do so. End taxes and simply print the money we need to operate the country at a high level. I don't really give a damn about the dollars purchasing power overseas.

Stop the curent government spending and we have huge deflation as no one will be able to afford to buy anything.

I don;t understand how this is not getting more attention. If the morons in our government mishandle this situation it's pretty much the nail in our coffin.

reply to post by wtf1is1happening


You know, I am hoping for the crash. I really, really want this system gone. I mean, at least we can go about having some resistance once everything falls down.

I will have my art supplies, I SHALL BE FINE! AIJIAHAHAHAHAHAHA

Now official, the US has breached the debt ceiling!

Treasury Sells $29 Billion In Bonds, Bringing Total Settled US Debt To 14.311 Trillion, More Than The Debt Ceiling

And now the relevant news: the most recently disclosed total debt was 14,211,567,662,931.23 as of March 28. This excludes the settlement of all of this week's auctions which amount to $35 + $35 + $29 billion (including today) or $99 billion. Adding the two amounts to $14,310,567,662,931.23. As a reminder the debt ceiling is $14,294,000,000,000.00. In other words, the total US debt just passed the debt limit - break out the Champagne!

But not REALLY... YET.

Granted there is a buffer of $52.2 billion between the total debt and the debt actually subject to the ceiling, meaning that America is not in default, yet. Therefore, the total debt subject to the limit assuming full settlement right now is $14,258,341,662,931. Which means the US is now $35.7 billion away from a bona fide breach of the debt ceiling.

35.7 billion left... it'll last about a little more than a week, and THEN it'll be REAL DEFAULT.

So if congress doesn't pass a debt ceiling hike in the next 10 days, it's over.