[Para-Ord.45]

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http://www.youtube.com/watch?v=SgNLTb58K_Y

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[Jane Long]

Get out of all debt denominated in USD and get out of USD.

And get in to what? (Does it even say in the vid?)

[Billyv]

Couldn’t agree more, Thanks are due to the Boehner Republicans in the house; we knew there were not 41 conservatives in the Senate. They will be remembered in 2012.

[Ohioan]

Peter Schiff is absolutely correct. We have been defaulting on our debts, as standard Federal practice, ever since FDR and the corrupt New Deal began the systematic corruption of millions of Americans by spending inflated currency to fund projects for which there was no Constitutional authorization.

When you pay your creditors back with coin that is not worth what they loaned you, you default in real terms, however the Leftist & Keynesian spin doctors seek to spin it. Value in, should equal value out. But it simply has not for almost three generations.

To understand the Economics Of A Sociopath. For more on the The Function of Money.

Of course the rating agencies are afraid to really evaluate the credit-worthiness of the Obama administration. It has us far along on the path that the Wiemar Republic followed, and Peter Schiff is one of a few brave economists who is willing to call reality, "reality"; and Keynesian idiocy, "idiocy."

William Flax

[grey_whiskers]

[Prokopton]

The U.S. is too big to save. While smaller countries might be too big to fail, and other countries come to their rescue and place a safety net under them, there is no safety net big enough for the U.S.. There is not enough money on the planet to bail out the U.S.. If we go down, we will pull other countries with us, but there will be nothing and nobody to stop the fall.

[comebacknewt]

One of the few guys out there truly making sense right now.

Schiff for President!!

[TheRightGuy]

what countries stil have an AAA rating?

[Alberta's Child]

Larry Kudlow had Stephen Moore of the Club for Growth and John McIntyre of RealClearPolitics on his radio show today, and all three of them agreed that it is absurd for any rating agency to assign something other than a AAA rating to U.S. government debt.

Their rationale was very simple: "Does anyone on this planet really believe that the U.S. is more likely to default on its debt than countries like Germany, France and Canada?"

The whole idea is preposterous, though I'm happy to see S&P downgrade U.S. debt for symbolic reasons. This country really needs a slap in the face and a kick in the @ss to get our financial affairs in order.