Posted on 12/07/2012 6:44:59 AM PST by SeekAndFind
No doubt. But it is Congress that spends the money - OUR money, that is, which they take to be theirs.
But the media says we’re at the fastest deficit reduction since WWII, and that Obama has a blockbuster plan for the budget (/sarc)
Then again, when you look at the source, it’s Bob Cesca
I likes your thinkin’, MrB...
I think the political jerks in DC know what is coming; but they also think they personally will not be affected since they (think) they have amassed enough wealth through decades of being corrupt to weather the storm. If the SHTF in a massive way, however, (and it looks like that’s a good possibility) no one will be immune. It’s going to get really ugly.
What if the gov held a T-bill auction, and nobody came?
I’m in Illinois. Our “firewall” is already in flames.
The "Primary Dealers" always come.
That's one of the conditions of being a "Primary Dealer".
The problem will arise when the rest of the world stops pretending the Benbernank isn't then buying the T-bills from the Primary Dealers with freshly-printed dollars and starts pricing oil in something other than US dollars. That means that to buy oil we have to buy some other currency with dollars, and that's when the music stops.
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