America's default, in Russian. - page 40
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For some reason I imagined the following:
A company of soldiers (in what they were wearing, or whatever they had time to wear) in a bathhouse getting their shoelaces, and everyone knows that they will be the last to get such ...nitya. It is not clear where it is better to be the first, but with good footwear, or the last, but with bad footwear.
I've been thinking, Americans owe a lot to everyone, but in what currency will they repay their debts? )
In their own, or in the one they took.
The currency in which American bonds are backed is dollars. There is nothing else.
They will not pay back debts because it is physically impossible. The fact is that the economic system in the U.S. can only borrow, not repay. Well, it is also supposed to reduce the growth of debt, but in no way get rid of the debt.
The point is that the problem is not the foreign debts - it is a pyramid scheme and all the suckers will get nothing when it collapses "And the king is naked!". More accurately they can order the production of bond paper, if they need it of course, but no more than that.
The bottom line is that the economic crisis is already within the pindostan. That is, for the former lenders outside, they can only service the debt by adding interest to it. But that will not do much good because the number of creditors, that is, those willing to lend does not grow, but the volume of debts on the old debts does. Domestically, the budget is already bursting at the seams. That is, there is no longer any kind of long-term budget and all attempts to somehow curb it boil down to where and how to cut budget expenditures. Generally speaking, it is no longer possible to pass a budget in the USA for a year or half a year, as the situation is changing every day and not for the better. Something similar happened in the USSR under Gorbachev before Pavlov's reforms. It ended with the denomination of the ruble. The money can't be denominated in US dollars, there will be a lot of technical problems, because the biggest part of those dollars is outside the borders of the country.
The Japanese economy has also been hit by Fukushima. Japan urgently needs money for reconstruction, but the central bank does not have enough of it. But they do have a lot of American bonds - the so-called foreign currency reserve.
US risks war with Russia and China
(Translation from English)
Original source: US risks war with China and Russia
There is talk of Washington being advised to arm the revolutionaries in Libya. Do you think this is a good idea?
PAUL CRAIG ROBERTS: They are already arming them. That is the uniqueness of the Libyan uprising. It's not a peaceful uprising; it's not taking place in the capital. It's an armed uprising that's coming from the eastern part of the country. And we know that the US is involved in the fighting, so they are already armed.
- Can this military intervention be compared to the intervention in Bahrain?
- We don't want to overthrow the government in Bahrain or in Saudi Arabia where both governments are using violence against protesters because they are our puppets and we have a major naval base in Bahrain.
We want to overthrow Gaddafi in Libya and Assad in Syria because we want to kick China and Russia out of the Mediterranean. China has made massive energy investments in eastern Libya and relies on it, along with Angola and Nigeria, for its energy needs. This is an attempt by the US to deny China resources - just as Washington and London denied resources to the Chinese in the 1930s.
What is the interest in the protests in Syria? - And the wikileaks website demonstrates that the Americans are behind the protests. We have an interest because the Russians have a naval base which gives them a presence in the Mediterranean. So you see that Washington has intervened in Libya and is putting more and more effort to intervene in Syria because we want to get rid of the Russians and the Chinese.
But we don't say anything about the Saudis - how they treat protesters or anything about the violence used against protesters in Bahrain.
- Are you saying that the ultimate target of the attack on Libya is the oil factor?
- It's not just about oil, it's about Chinese infiltration of Africa and China lining up supplies for its energy needs. Maybe you are aware that the International Monetary Fund has released a report saying that the "American era" is over and that within five years the Chinese economy will overtake the US economy and then the US will become the second largest economy in the world, not the first. So Washington is trying to use the bloc, to use its superior military and strategic capabilities to prevent China from getting resources and to slow down the Chinese economy.
This is the main reason for the CIA's activism in eastern Libya and why the protests broke out in the east and not in the capital as in other Arab countries, and the reason why the protests are armed.
- Do you think the diplomatic isolation of Libya was the only reason for this military intervention?
- I don't think that's the main reason. The main reason is to kick China out of Libya, which is what is happening. Before the campaign started there were 30,000 Chinese there, then 29,000 were evacuated.
It is also payback for Gaddafi's refusal to join the US Joint Africa Area Command. It became operational in 2008 and was the US response to China's entry into Africa; the US created a military response to it and Gaddafi refused to participate - he said it was an act of imperialism and an attempt to buy an entire continent.
The third reason is that Gaddafi in Libya controls an important part of the Mediterranean coast. It's the same with Syria.
I think these two countries simply stand in the way of American hegemony in the Mediterranean and the Americans certainly don't want an influential Russian fleet based there, nor do they want China pulling energy resources from Africa.
Washington was caught off guard by the outbreaks of unrest in Tunisia and Egypt, but quickly realised that they could use and hide behind Arab protests to evict Russia and China without a direct confrontation, so the protests in Libya and Syria were staged.
We know for a fact that the CIA has been fomenting conflict in eastern Libya for some time, this is a known fact. The publication of telegrams on WikiLeaks proves that the Americans were involved in fomenting unrest in Syria.
We did not provoke unrest in Egypt, Bahrain, Tunisia or Saudi Arabia. We are probably responsible for the protests in Yemen because we are using drones and strikes against some tribal elements.
So, the difference is that the Americans have had their hand in things in Syria and Libya, organising demonstrations, giving money and so on. There are always disgruntled people who can be bought or promised.
- Now drones are being used in Libya. Where are they controlled from? Technically they can't fly from Italy due to lack of fuel, so where from?
- I don't know, maybe from US military vessels. I think the last drone report was from a naval officer.
I would like to add something. Probably the biggest risk, and a risk that is ignored, is China's attitude. Chinese companies are losing hundreds of millions of dollars as a result of this intervention. They have 50 massive investments there, everything goes down the toilet and China clearly perceives the intervention as an act against them. They have no illusions as they don't read the New York Times or Washington Post and don't believe all that crap. They only see America's actions against China.
- Are you saying that America wants to throw China out and replace these investments with American companies?
- That's right. I also think the Russians are beginning to realise that events in Syria are against them and their base.
We're basically starting to have a conflict with two major countries: China, whose economy is probably better than America's because the Chinese have jobs; and Russia, which has an unlimited nuclear arsenal. We are starting to push very strong countries in a very reckless way. We are being reckless and dangerous.
Once Russia and China come to the conclusion that the Americans simply can't be treated rationally and are determined to somehow subdue and damage them, any kind of escalation could result. This is a real danger and we could be facing a major war.
- Italy relies heavily on Libyan oil. What can you say about Italy's role as a NATO member in Libya?
- This is another unique point about the Libyan intervention. Why is NATO at war in Africa? The North Atlantic Alliance was formed to defend against a likely Soviet invasion of Western Europe. The Soviet Union has been gone for twenty years. With the help of the US and the Pentagon, the alliance has been turned into an auxiliary force and NATO is now engaged in a war of aggression in Africa. This is a war of aggression, a war of attack.
So, these are unusual events. Why are they happening? We did not use NATO in Egypt, Tunisia and we certainly will not use it in Saudi Arabia or Bahrain, so it is strange - a NATO war in Africa. An explanation is needed.
Yeah. If you want peace, prepare for war.
Here is an example of how current US presidential candidate Donald Trump is reasoning:
Source: http://www.tagesspiegel.de/weltspiegel/donald-trumps-traum-vom-praesidentenamt/4100912.html
Libyen? "Ich würde reingehen und mir das Öl holen. Ich würde mir das Öl holen und diesen ganzen Babykram stoppen." Nach mehrminütigen Varianten der immergleichen Botschaft gelingt es dem Interviewer, eine Zwischenfrage einzuschieben: "Wir sollen also Ölfelder stehlen?" - Trump reagiert sanft, wie man ein unverständiges Schulkind zurechtweist. "Ich bitte Sie, wir stehlen doch nicht. Wir holen uns nur die Kosten zurück für unseren Einsatz."
Which in German means:
- Libya? I would go in and get the oil and stop all these childish pranks," says D. Trump.
- You mean we should steal the oil fields?
- Please, we're not stealing anything. We are only reimbursing our expenses for the military operation.
So business is business. If you have been robbed, it means that in line with US terms, what you have stolen is just a compensation for the cost of the operation.
So, foreign countries will help us by dropping bombs on our heads, so that we could understand their democracy and demand compensation for those bombs.
Is it possible that D. Trump will be the next president of the U.S., as he now balances between first and second place judging by the ratings? And in his speeches he explains quite unambiguously, but quite clearly and most importantly, quite understandably to every Yank, how easily all current problems of the US can be solved at someone else's expense. They are now going to put an end to childish pranks with respect to countries that possess energy carriers once and for all.
what year on 16 May?
US Treasury warns of default by early June
The US is at risk of defaulting as early as early June if President Barack Obama's administration and Congress fail to reach an agreement on raising the public debt ceiling.
This was announced by the US Treasury Department, ITAR-TASS reported today with reference to the London newspaper The Financial Times.
According to the ministry's calculations, the debt ceiling - $14.3 trillion - will be reached by 16 May this year. After that, the United States will be unable to pay its debt obligations.
The Financial Times notes that a dangerous confrontation has now arisen in Congress between those who push for severe austerity measures to reduce the giant national debt and supporters of continuing to stimulate economic growth through expanded lending. As a result, the authorities are unable to agree on an increase in the level of public debt.
Source: http://news.finance.ua/ru/~/1/0/all/2011/04/27/236547
Is a debt crisis a matter of time?
According to the expert, the growth rate of US and EU debt could become a catalyst for a new crisis in the financial markets. At the same time gold will remain in priceDebt problems in the U.S. and the Eurozone may become catalysts of a new major crisis in the financial markets. In the meantime, "real" assets like gold, oil and wheat will remain in the price. Nonna Donets, an expert on investment and risk-management in stock markets, said about it in her exclusive article for Liga Finance.
Restructuring of public debt of EU countries can "launch" a crisis of the banking sector. In response to Greece's desire to restructure its debt for five years, the European Central Bank announced: "Those countries in the Eurozone, which have applied or plan to apply for emergency financial assistance from the European Union, risk "to launch" crisis of the banking sector in their countries ... ". In the worst-case scenario, this could lead to a repeat of the Lehman Brothers Holdings Inc. story. The optimistic scenario for such countries is that public debt is reduced to a minimum, while debt restructuring could "cut off" the country from foreign markets. In order to do so, financial reforms need to be adopted where appropriate cash flows are channelled into debt reduction.
If you recall, the US is also in technical default pending, America's debt will hit the ceiling in 5-7 days... Theoretically, the size of the national debt, set in 2010, cannot exceed $14.29 trillion. This prediction is easy to obtain based on the known rate of borrowing money. Republicans and Democrats are bumping heads over austerity programs or tax increases, each side trying to tie a vote around the technical issue of setting a new borrowing ceiling to their prescriptions for "saving the nation.
What is the state of the national debt and what happens if the people's servants do not agree? Officially it is believed that the debt is currently at $14.268365 trillion. If the figure of $14.294 trillion is reached, the technical default status will put the US economy into a mode that is not desirable for the shareholders of this country. At least until July, the U.S. will be able to maintain orders of magnitude close to the current unlimited borrowing of money through manipulation of the expenditure and income items. Plus, America owes the poorest countries of Africa and Asia.
But there are several reasons to worry about breaking the debt ceiling, and they are both political and economic. The political machine has inertia and is not always well managed from behind the scenes: there are always "mute radio operators" and "blind gunmen". But even if congressmen manage to "fix" the situation, there are still a couple of unpleasant moments.
China has no intention of increasing the size of its debts and is noticeably cutting investment in US treasuries. Russia is driving the trend exactly in line with China. Investment growth on the British side is likely to be fictitious, designed for reporting purposes: old friendships allow for more tricks than that. Japan will not play with as much greed as before, although oaths of allegiance are being made from the island of Honshu. The Arab sheikhs have enough problems now, and at the very least will not invest big money in paper - they need to solve problems with their own revolutions.
Moreover, the debts of the US are not only formed by the purchase of loan bonds by foreign governments. It is also owed by the corporate sector, which is even less controlled than the public sector. A cautious retreat to prearranged positions can begin, ending in the usual panic and flight from this type of investment. Where? In gold, oil, wheat. In this case, the cost of borrowing will rise sharply and the cheap U.S. money will run out. In such an environment, the most common things usually become valuables rather than bonds, stocks and debt packages.
Nonna Donets,
Expert on investment and risk management in stock markets
Source: http://finance.liga.net/economics/2011/4/27/articles/21688.htm
A super-volcano could destroy two-thirds of America!
Don't you take that into account?
A super-volcano could destroy two-thirds of America!
Don't you take that into account?
The volcano has erupted three times, but it's only a minor lava eruption.
So far, not two-thirds.
There's also this information on the same website: The U.S. will have a new silver and gold currency.
The cycle of Supervolcano Caldera is about 600,000 years old. It last erupted 640,000 years ago. The time has come....))))