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Author Topic: When US debt ceiling is lifted . . .  (Read 4723 times)
ronwan
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21 Million is enough.


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July 14, 2011, 09:04:03 AM
 #41

- What is gonna happen to those country who stored USD as their GDP ?
Is this gonna make BTC value doubled/tripled because of usd value dive ?
What do you guys think ?

Absolutely nothing will change.  The debt limit is raised every few years with the party in power claiming cats and dogs and assorted ocelots will rain down if it's not lifted, while the party without power claims the other is totally reckless and irresponsible.  A few years later the two parties swap positions and go at it again.  No one is dumb enough on either side of the political divide to risk default over a few political sticking points.


Citizens of Ancient Rome thought it could go on. The fall of that empire was financial. The fall of all empires are financial. Politicians can't cut and that brings it to an end. 

Not as good as gold, BETTER.
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cbeast
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Let's talk governance, lipstick, and pigs.


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July 14, 2011, 11:22:58 AM
 #42

Empires usually collapse from within.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
JohnDoeZ
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July 15, 2011, 09:33:00 PM
 #43

what is gonna happen if us debt > us gdp ?
japan looks ok to me  Huh

any thoughts ?
CurbsideProphet
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July 15, 2011, 09:43:39 PM
 #44

what is gonna happen if us debt > us gdp ?
japan looks ok to me  Huh

any thoughts ?

It's already happened twice in recent history.  During World War II and the 2008 financial crisis.

1ProphetnvP8ju2SxxRvVvyzCtTXDgLPJV
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July 15, 2011, 09:56:20 PM
 #45

what is gonna happen if us debt > us gdp ?
japan looks ok to me  Huh

any thoughts ?

It's already happened twice in recent history.  During World War II and the 2008 financial crisis.
so US is never gonna pass 100% because US is the printer machine ? = usd inflation ?
Iam not accountant so really don't know.
is my conclusion correct ?
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July 15, 2011, 10:01:51 PM
 #46

The US already defaulted in 1936 and turned all of the country and the labor of its citizens to the banks.
cbeast
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July 15, 2011, 10:12:38 PM
 #47

I don't feel too sorry for lenders that financed a country that goes into wars willy-nilly against their own laws. So the US goes into default, so what? The worst thing that will happen is that money will be printed to pay debts and then re-issued to get people back to work. It doesn't mean we must sell our children for medical experiments.  Tongue

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
CurbsideProphet
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July 16, 2011, 12:01:26 AM
 #48

what is gonna happen if us debt > us gdp ?
japan looks ok to me  Huh

any thoughts ?

It's already happened twice in recent history.  During World War II and the 2008 financial crisis.
so US is never gonna pass 100% because US is the printer machine ? = usd inflation ?
Iam not accountant so really don't know.
is my conclusion correct ?

Debt to GDP exceeded 100% during both those periods I mentioned. 

1ProphetnvP8ju2SxxRvVvyzCtTXDgLPJV
JohnDoeZ
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July 16, 2011, 07:35:42 AM
 #49

according to this charts http://www.usgovernmentspending.com/federal_debt_chart.html
and this chart http://www.usgovernmentspending.com/downchart_gs.php?year=1792_2016&chart=G0-fed&units=p
US already breach 100% since 2002  Huh

lets see.. according to this data https://secure.wikimedia.org/wikipedia/en/wiki/List_of_Presidents_of_the_United_States

1989   5482.1   2.79   a - George H. W. Bush (R) (January 20, 1989 - January 20, 1993)
1990   5800.5   3.81   a
1991   5992.1   4.49   a
1992   6342.3   4.58   a
1993   6667.4   3.83   a - Bill Clinton (D) (January 20, 1993 - January 20, 2001)
1994   7085.2   2.87   a
1995   7414.7   2.21   a
1996   7838.5   1.37   a
1997   8332.4   0.26   a
1998   8793.5   -0.79   a
1999   9353.5   -1.34   a
2000   9951.5   -2.37   a
2001   10286.2   -1.24   a - George W. Bush (R) (January 20, 2001 - January 20, 2009)
2002   10642.3   1.48   a
2003   11142.1   3.39   a
2004   11867.8   3.48   a
2005   12638.4   2.52   a
2006   13398.9   1.86   a
2007   14061.8   1.14   a
2008   14369.1   3.19   a
2009   14119   10.01   a - Barack Obama (D) (January 20, 2009 - Incumbent)
2010   14508.2   8.92   a

why is D loves to make (+)plus signs to (-)minus signs, while R loves to make (-)minus to (+)plus ?
specially George W. Bush (R) (January 20, 2001 - January 20, 2009) , he can makes -1.24 to 10.01

I'm at lost here... the D & R makes the opposite actions.
I don't know witch is good for a country who holds international currency  Huh
I'm not good at economy, any thoughts ?
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