Home » Posts tagged 'Federal government of the United States' (Page 2)
Tag Archives: Federal government of the United States
The U.S. Has REPEATEDLY Defaulted | Washington’s Blog. (FULL ARTICLE)
It’s a Myth that the U.S. Has Never Defaulted On Its Debt
Some people argue that countries can’t default. But that’s false.
It is widely stated that the U.S. government has never defaulted. However, that is also a myth.
Catherine Rampbell reports in the New York Times:
The United States has actually defaulted on its debt obligations before.
The first time was in 1790, the only episode Professor Reinhart unearthed in which the United States defaulted on its external debt obligations. It also defaulted on its domestic debt obligations then, too.
Then in 1933, in the midst of the Great Depression, the United States had another domestic debt default related to the repayment of gold-based obligations.
Donald Marron points out at Forbes:
The United States defaulted on some Treasury bills in 1979 (ht: Jason Zweig). And it paid a steep price for stiffing bondholders….
- Top bankers warn of dire consequences if America defaults… (reuters.com)
- Is There Life After Default? (txwclp.org)
- Boehner: U.S. Is On A Path To Default (talkingpointsmemo.com)
If Congress doesn’t raise the debt ceiling soon, the U.S. government won’t be able to pay its debts. Here’s NPR’s simple (and complete) illustration to who the government owes money to — all the holders of U.S. Treasury debt, broken down by category and by how much government debt they hold. It would appear the government’s ponzi self-financing may be exposed for all to see… (and is it anywonder the Chinese are complaining?)
- U.S. Government Shutdown and Debt Limit (shakemyheadhollow.wordpress.com)
- Is America A Bubble? (washingtonpost.com)
- Solution to the âShutdownâ: The Fed Could Simply Cancel $2 Trillion of Government Debt (rinf.com)
- 12 Very Ominous Warnings About What A U.S. Debt Default Would Mean For The Global Economy (thesurvivalplaceblog.com)
A U.S. debt default that lasts for more than a couple of days could potentially cause a financial crash unlike anything that the world has ever seen before. If the U.S. government purposely wanted to damage the global financial system, the best way that they could do that would be to default on U.S. debt obligations. A U.S. debt default would cause stocks to crash, would cause bonds to crash, would cause interest rates to soar wildly out of control, would cause a massive credit crunch, and would cause a derivatives panic that would be absolutely unprecedented. And that would just be for starters. But don’t just take my word for it. These are the things that top financial experts all over the planet are saying will happen if there is an extended U.S. debt default.
Because they are so close together, the “government shutdown” and the “debt ceiling deadline” are being confused by many Americans.
As I wrote about the other day, the “partial government shutdown” that we are experiencing right now is pretty much a non-event. Yeah, some national parks are shut down and some federal workers will have their checks delayed, but it is not the end of the world. In fact, only about 17 percent of the federal government is actually shut down at the moment. This “shutdown” could continue for many more weeks and it would not affect the global economy too much….
- Financial analyst warns U.S. debt default would trigger a Great Depression (patriotrising.com)
- China Warns U.S. About Debt Crisis (aworldchaos.wordpress.com)
- Government Shutdown Careens Toward Oct. 17 U.S. Debt Blowout (12160.info)
- Debt ceiling: Understanding what’s at stake (cbsnews.com)
— An unmistakable sense of unease has been growing in capitals around the world as the U.S. government from afar looks increasingly befuddled — shirking from a military confrontation in Syria, stymied at home by a gridlocked Congress and in danger of defaulting on sovereign debt, which could plunge the world’s financial system into chaos.
While each of the factors may be unrelated to the direct exercise of U.S. foreign policy, taken together they give some allies the sense that Washington is not as firm as it used to be in its resolve and its financial capacity, providing an opening for China or Russia to fill the void, an Asian foreign minister told a group of journalists in New York this week.
Concerns will only deepen now that President Barack Obama canceled travel this weekend to the Asia Pacific Economic Cooperation Forum in Bali and the East Asia Summit in Brunei. He pulled out of the gatherings to stay home to deal with the government shutdown and looming fears that Congress will block an increase in U.S. borrowing power, a move that could lead to a U.S. default.
The U.S. is still a pillar of defense for places in Asia like Taiwan and South Korea, providing a vital security umbrella against China. It also still has strong allies in the Middle East, including Israel and the Gulf Arab states arrayed against al-Qaida and Iran.
But in interviews with academics, government leaders and diplomats, faith that the U.S. will always be there is fraying more than a little….
- Analysis: US Reliability Questioned Overseas (abcnews.go.com)
- Analysis: US reliability questioned overseas (boston.com)
- Analysis: US reliability questioned… (fox10tv.com)
US Government Fails Honesty Standards of 12 Year Olds
Government leaders have been caught in lie after lie about spying … but keep on spouting new lies:
- The heads of the intelligence services have repeatedly been caught lying about spying … again andagain and again and again. Security expert Bruce Schneier writes: “This is getting silly … Now they’re just looking shiftier and shiftier.” It has gotten so bad that a leading groups concludes: “US Government Fails Honesty Standards of 12 Year Olds“. And even liberal publications are forced to conclude that Obama is intentionally lying about spying
- Obama says he’ll rein in spying … but his words and deeds indicate that he won’t. Indeed, Obamaappointed the fox to guard the chicken coop
- While the Obama administration is spying on everyone in the country – it is at the same time themost secretive administration ever (background). That’s despite Obama saying he’s running the most transparent administration ever…
- Ponzi schemes proliferate (bostonherald.com)
- When an SEC Equity Receiver may, and may not, Use the “Ponzi Presumption” in Fraudulent Transfer Cases (thecreditorsrightsblog.com)
- Bitcoins Are Money, Judge Rules in Bitcoin Ponzi Scheme Investigation (news.softpedia.com)
- This Ponzi Scheme of Government Financing Will Not Continue Forever (goldsilverworlds.com)
- The Scam Of Zero Interest Rate Policy (planet.infowars.com)
- The Reality of Gold and the Nightmare of Paper (safehaven.com)
- Fixing the Fiscal Gap: A Smart Idea Backed by Both Parties (Seriously) (businessweek.com)
- Study: U.s. Debt Obligations $70 Trillion… (breitbart.com)
- News from 2010 … America is bankrupt (jng1234.wordpress.com)
- Student Loan Bubble – Bursting Or Not? Delinquencies Falling in 2013 (confoundedinterest.wordpress.com)
- $1.2 Trillion Student Loan: The American Ambition Buster (econmatters.com)
10 Chemical Weapons Attacks the U.S. Government Doesn’t Want You to Know About | A Lightning War for Liberty
- Michael Calderone: Obama Admin Denies AP Requests For Syria Evidence (huffingtonpost.com)
- The US government has used more chemical weapons than all other countries combined (paulcraigroberts.org)
- BP sues US environment agency over government contracts ban (independent.ie)
- BP sues US over ban on new contracts (bbc.co.uk)
- BP sues U.S. alleging abuse of power after 2010 Gulf spill (rawstory.com)
- BP sues US over Deepwater Horizon contracts ban (standard.co.uk)