Posts Tagged ‘reserve currency’

Obama Promised The World, Delivered 1970 Vietnam: Highest Ranking General Murdered Since 1970 And Obama

August 6, 2014

Ah, Vietnam.  I remember it well.  The military won every single battle.  But it was LBJ’s Democrat War.  And the Democrats surprised LBJ by viciously turning on their own president at war and demanding America be defeated.

FDR and Harry Truman firebombed Dresden and Tokyo.  I mean, bad as Democrats always were with money and debt, they at least used to share the belief in God and the decency of moral values that meant if you went to war, YOU ACTUALLY FOUGHT THAT WAR TO WIN.

Those halcyon days before the Democrat Party turned into the party of pure, self-destructive evil have been gone since the 1968 Democrat National Convention when Democrats violently rioted.  You know, for peace.  Kind of the way Obama’s domestic terrorist buddy Bill Ayers planted bombs and murdered judges and police officers for peace.

There’s a term for it: “peace at any price.”  It might sound good in theory – assuming you are a complete moral idiot – but the way it works out is Jane Fonda going to Hanoi to mock American POWs and help the communists with their propaganda.  The way it works out is for John Kerry to throw away all the bogus medals he basically pinned on his own chest and dishonestly testify under oath that he personally witnessed war crimes (only to take it back when it was pointed out that if he personally witnessed war crimes and didn’t report them at the time HE HIMSELF WAS A FELLOW WAR CRIMINAL).  The way it works out is for an Obama to utter threats about “red lines” and then never do a damn thing to defend the American credibility he just put on the line only to piss away.  The way it works out is for America to bail on its treaties and its allies and allow our enemies to run roughshod over the world.  Oh, and of course to mock, demonize and trivialize the people who were right all along.  The way it works is to intervene in such a stupid, shortsighted and self-serving political way that it guarantees a mess that will haunt America for decades to come.  The way it works is for Obama to piss away all the sacrifice that we won in Iraq and pull out all our troops who would have prevented a terrorist organization even worse than al Qaeda from creating a terrorist caliphate which they have said all along would become their base to launch their next strikes at America and at Israel.  Oh, and then blame the people who warned you about the stupidity of what you were doing from the start.  The way it works out is for a president to invite thugs and tyrants to his stupid events so he can reward thuggery and tyranny.  As even the liberal Doyle McManus of the liberal Los Angeles Times pointed out.

Peace at any price means demonizing our ally Israel and taking the side of the terrorist organization Hamas which deliberately employed a strategy of forcing Israel to kill Arab civilians by digging tunnels under hospitals, mosques, schools and homes and urging people to remain to die as martyrs rather than leave before attacks that Israel warned were coming.

ISIS has run roughshod over Syria, where Obama dithered and failed, over Iraq, which Obama pissed away.  And now it is running roughshod over Lebanon as it metastasizes.

The world is not only more unstable under Obama than it has ever been under Obama’s presidency; it is more unstable than it has ever been throughout Obama’s entire LIFETIME.

This radical community organizer has failed America.  He has failed the world.  He has failed the human race.

Peace at any price is evil.  Democrats are evil.  Their way – like the way of Hamas whose side they take – is the way of suicide.

As a conservative – which means as someone who does NOT urinate and defecate on the Holy Bible – I understand the meaning of the words “This will happen because these evil prophets deceive my people by saying, ‘All is peaceful’ when there is no peace at all! It’s as if the people have built a flimsy wall, and these prophets are trying to reinforce it by covering it with whitewash!”

There is a God.  Democrats have shaken their fist at Him – and forced America to shake a nation that had until Obama been a “nation under God” to shake its now leftist-collectivist fist at God.  As I wrote, Obama has so removed America from God’s protection it is beyond unreal.  The Democrat Party is the official Party of the wrath of God.

And when a nation falls under the wrath of God it gets to repeat all of its very worst failures as it spirals down the toilet ball toward its own destruction.

And so Afghanistan becomes Vietnam, Party Deux.

And here is a beautiful little illustration of that:

U.S. officials identified the general killed in Afghanistan on Tuesday as Maj. Gen. Harold J. Greene, who became the highest-ranking U.S. military officer killed in combat since 1970.

Greene, who was on his first deployment to a war zone, was involved in preparing Afghan forces for the time when U.S.-coalition troops leave at the end of this year. An engineer by training, he was the deputy commanding general, Combined Security Transition Command-Afghanistan.

Pentagon spokesman Rear Adm. John Kirby said earlier that the assailant fired into a group of international soldiers at the Marshal Fahim National Defense University at Camp Qargha, a base west of Kabul, and was subsequently killed.

Another 15 people, roughly half of them Americans, were wounded. Among the wounded were a German brigadier general, two Afghan generals and an Afghan officer, whose rank the Afghan Defense Ministry did not provide.

The attack occurred during a site visit to the university by coalition members.

Ministry spokesman Gen. Mohammad Zahir Azimi said a “terrorist in an army uniform” opened fire on both local and international troops.

The Qargha shooting comes as so-called “insider attacks” —  incidents in which Afghan security turn on their NATO partners — largely dropped last year. In 2013, there were 16 deaths in 10 separate attacks. In 2012, such attacks killed 53 coalition troops in 38 separate attacks.

The Army’s top soldier, Gen. Ray Odierno, issued a statement Tuesday evening saying the Army’s thoughts and prayers were with Greene’s family as well as the families of those injured in the attack.

In a 34-year career that began at Fort Polk, La., Greene, a native of upstate New York, earned a reputation as an inspiring leader with a sense of humility. He had been in Afghanistan since January.

At the time of the Sept. 11, 2001 terrorist attacks Greene was serving at Fort Leonard Wood, Missouri, and when the U.S. invaded Iraq in March 2003 he was a student at the Army War College in Carlisle, Pennsylvania, at the rank of lieutenant colonel.

Greene flourished in the less glamorous side of the Army that develops, tests, builds and supplies soldiers with equipment and technology. That is a particularly difficult job during wartime, since unconventional or unanticipated battlefield challenges like roadside bombs in Iraq and Afghanistan, call for urgent improvements in equipment.

In 2009-2011, for example, he served as deputy commanding general of the Army’s Research, Development and Engineering Command and senior commander of the Natick Soldier System Center at Aberdeen Proving Ground in Aberdeen, Maryland. During that tour of duty he gained the rank of brigadier general, and at his promotion ceremony in December 2009 he was lauded for his leadership skills and ability to inspire those around him.

Lt. Gen. Stephen Speakes applauded Greene for a “sense of self, a sense of humility” and an exemplary work ethic, according to an account of the promotion ceremony published by the Times Union of Albany, N.Y., which called Greene an Albany native.

“In every job I had we got things done that I think made our Army better, and it was done by other people,” Greene was quoted as saying. “All I did was try to pull people in the right direction and they went out and did great things.”

Greene earned a bachelor of science degree in materials engineering and a master’s degree in industrial engineering, both from Rensselaer Polytechnic Institute in Troy, N.Y. He later studied at the University of Southern California and also attended the U.S. Army Command and General Staff College at Leavenworth, Kansas.

In 2010, he spoke at the opening of the Social Cognitive Networks Academic Research Center, a research facility at Rensselaer Polytechnic Institute with the mission of improving the Army’s understanding of social, information and communication networks, according to the Army’s account of the event.

“We’re in a fight now with an enemy that’s a little bit different and uses different techniques … and networks are a key part of that,” Greene said.

He said finding patterns in the tactics of insurgents was difficult because of the way networks evolve and otherwise change. So the goal was to bring to light the patterns and determine how to anticipate and influence the actions of insurgents.

“The enemy is every bit as good as we are at using that network to our detriment so this is essential work, this is about defending our country,” Greene said. “You must know that there is a direct application on the battlefield and we’re using it today, but we don’t really understand it yet so this is a critical element.”

His awards include the Legion of Merit, the Distinguished Service Medal, a Meritorious Service Award and an Army Commendation Medal.

The Associated Press contributed to this report.

Obama’s response reminds one of Hitler in his bunker, screaming orders that no one is bothering to follow as he loses again and again and again while promising ultimate victory to the same deaf ears:

White House: The U.S. Has Made “Tremendous Progress” In Afghanistan
“There is no question that significant progress has been made in disrupting that terror network [Al-Qaeda] on the ground in Afghanistan,” Earnest told reporters on Tuesday after the killing of a U.S. Army general.
By Maria Santangelo
August 5, 2014

(TRNS) – The same day that a U.S. Army general was shot and killed by what the Pentagon believes to be an Afghan soldier, White House Press Secretary Josh Earnest told reporters Tuesday that the United States has made “tremendous progress” in bolstering the security situation in Afghanistan.

“There is no question that significant progress has been made in disrupting that terror network [Al-Qaeda] on the ground in Afghanistan,” Earnest told reporters during his daily White House press briefing. ”There is no doubt that the policy and strategy that this President put in place has… ensured that we are mitigating that risk posed to Americans both here in the United States but also around the globe.”

While Earnest said the attack on American military personnel in Afghanistan is “traumatic and tragic,” he stressed ”there is no doubt that over the last 12 years that threat has been significantly degraded.”

Earnest highlighted that the United States’ mission in Afghanistan over the last 12 years has been focused on “disrupting, dismantling and defeating the Al-Qaeda leadership” by ensuring that the Afghani government possesses “the support and resources necessary to provide for their own security.”

As a result of this mission, Earnest stated “we have seen a decline in the casualty rate of American personnel [in Afghanistan].”

Rep. Ed. Royce (R-Calif.), head of House Committee on Foreign Affairs, released a statement about the attacks, acknowledging that “in recent years, there has been some progress lessening these ‘green-on-blue’ attacks. But obviously not enough, as made clear by today’s tragedy.”

Earnest directed all questions concerning the rank of the general and the specifics surrounding the attacks to the Department of Defense, which is currently undergoing investigations.

“Peace, peace, when there IS no peace.”  And everyone who isn’t an abject fool knows it:

They offer superficial treatments for My people’s mortal wound. They give assurances of peace when there is no peace.”

Do you know what I call this passage in Jeremiah 6:14 and the above passage I quoted from Ezekiel 13:10?  Barack Hussein Obama’s foreign policyWhich is in unprecedented shambles while Obama golfs.  And which we’re assured by Obama’s fools that we should be proud of as our nation begins to circle the drain of history.

Obama’s foreign policy is to give continual assurances of peace when there is no peace, to offer superficial treatments for our national mortal wound, to constantly deceive and to build flimsy walls and reinforce those flimsy walls by covering them over with rhetorical whitewash.

Obama’s personal response to the most senior general killed since 1970 was pathetic personal indifference.  Obama didn’t bother to even mention it.  It’s completely irrelevant to our Community Agitator-in-Chief.

Three-quarters of all Americans killed in Afghanistan occurred during the time of Obama and his failed policy with his same “timetable for withdrawal” that doomed America to defeat in Iraq.  So if the Obama White House were actually honest in their metric about “a decline in the casualty rate of American personnel” being a measure of victory, then “victory” occurred with George W. Bush as president.

Just as VICTORY occurred with George W. Bush as president in Iraq when he DEFEATED the terrorists and left an Iraq so safe and so stable behind that Obama and Biden boasted about it and took credit for the safety and stability.

What the Taliban in Afghanistan are doing is biding their time because a depraved FOOL told them precisely when America was cutting and running.  And they knew that they could begin to attack us as we were pulling out and make it – rightly – appear that they were DRIVING us out.  And then they will re-create their caliphate that they used as their base to attack America on 9/11 just as ISIS has already done in Iraq thanks to the exact same failed Obama policy of withdrawal.

America is too young to die.  But die it will just the same.  Because we VOTED to die when we voted first to stupidly elect and then even more stupidly to re-elect the worst president in the entire history of the republic.

America is nowhere mentioned in Bible prophecy, which was noted by the same people who noted in the 1830s and even EARLIER that Israel would have to be regathered as a nation after 2000 years of extinction and by the same people who noted that Russia as Gog of Magog and China and the powers of Asia as leading the kings of the east would have to become great powers when they were basically giant, powerless wastelands.  The reason they predicted these things that all came to pass is because they trusted their Bibles literally and because the Bible really is the literal Word of God.

This is a nation – America, I’m talking to YOU – that is going to go down and go down hard in an agony of death throes that will never have been seen in all of history.

And I now believe I understand precisely how it will happen – and yes, it will be entirely because of none other than the coming Antichrist’s most useful idiot, Barack Hussein Obama.  Obama will be to blame for the collapse of America and the coming Tribulation and the rise of Antichrist for three reasons:

1) America’s now virtually complete abandonment of the nation of Israel under Obama: Daniel chapter 9 states that the Tribulation will officially begin when Israel signs a seven-year covenant with the Antichrist (see also here for more detail).  Now that America – entirely because of the Fool-in-Chief and his evil Democrat Party – has turned its collectivist back on Israel, where else will Israel have to turn but to Antichrist???

Just remember, America: when the Tribulation comes and it becomes time for you to take the mark of the beast in order to buy or sell – because Antichrist WILL be the ultimate statist who will assume total socialist power over the economy – YOU VOTED FOR IT TWICE.

2) America’s cancerous, catastrophic debt: Up until 2012, the Congressional Budget Office (CBO) published something called the “Alternative Fiscal Scenario” which provided our true state of indebtedness.  By that measure, in 2012, our actual debt was measured at $222 TRILLION and was rising at a staggering rate of $11 trillion each year.  The demon-possessed Obama response was to cut that measurement out of the CBO’s budget, such that no report, no reporting, no problems.

Democrats have no love for the United States of America; they cynically exploit our national security, our border, our economy, as engines of their ideology.  I believe that they hate America because it has always been “a nation under God” as Lincoln described it, a nation founded upon and established by Judeo-Christian principles.  And Democrats rabidly hate God and Christ.  Maybe you argue differently.  But one thing is for sure: modern Democrats dismiss the incredible damage that they are doing to this country.  On their view of government as replacing God, America is something that will be eternal.  They actually believe that they can spend and spend and spend and when we broke all they have to do is add zeroes to the Federal Reserve computer and voila we will have all the money we need.

That’s the naïve Democrats, of course.  The cynical Democrats – Obama’s wing – believe with Professors Cloward and Piven that they can bankrupt and economically collapse America by imploding the nation with debt by overwhelming our social support systems.

I’ve written about this: The Cloward And Piven Presidency; ObamaCare Just Another Leftist Attempt To Bankrupt America (Cloward And Piven Alert); Did Someone Just Say Cloward And Piven? Former SEIU Top Level Official Caught On Tape Conspiring To Implode America; Cloward-Piven Alive And Well: Progressives CONTINUE To Push For Destruction Of U.S. System; The Party Of Genuine Evil And The Destruction Of America: In 39 States, Democrat Welfare Pays Better Than A Secretary’s Job; Why The Logic Of Obama’s And Democrat Party’s Class Warfare Ultimately Leads To Gulags For The Poor.  It comes down to this: when Obama collapses America economically with his spending that will be more than ALL U.S. presidents INCLUDING BUSH GOING BACK TO GEORGE WASHINGTON COMBINED by the time he leaves office, a panicked, desperate American people will demand that the government step in to help them.  And then the real leaders of the Democrat Party will have the COMMUNISM they have been working toward since at least 1968.  And Obama will have successfully “fundamentally transformed” America just as he promised.

And America will never rise again other than as what the Antichrist degenerates it into.

3) and this will be the final card that Obama has removed to complete the crash of the house of cards that America has become into agonizing death: the gutting of American military power and international prestige.

Obama has been claiming – and maniacally continues to claim in spite of all massive evidence to the contrary – that he has broken the back of al Qaeda and terrorism has been defeated.  It doesn’t matter if this claim – like so many other claims and promises that Obama has made – come directly from the fanged, drooling lips of Lucifer himself.  Obama cynically exploited his claim to GUT America’s military strength.  After all, he was won victory.  The war is over.  We don’t need a strong military.  To wit, we are gutting our military to pre-World War II levels under Obama.  With Obama having already gutted American military combat readiness to a degree that will shock any decent American PRIOR to his gutting the Army to pre-World War II levels.

What has been Obama’s response in crisis after crisis after crisis as our enemies brutally seize the territory of our allies and murder Christians and Jews all over the world?  NOTHING.  ABSOLUTELY NOTHING.

Under Obama, our enemies no longer fear us whatsoever and our allies no longer trust us or need us whatsoever.  America is irrelevant.

And an irrelevant America can be allowed – for the first time since our founding – to collapse.

Because we are now too weak and too irrelevant to matter, because of our massive debt and insane and frankly wicked bankrupt spending with not merely billions but TRILLIONS of dollars that we do not have, and because God has turned His back on America as America has turned its collectivist back on God and now on Israel, we are going DOWN.

And the trigger that sends America into the agonizing plunge to horrifying death and oblivion will be our status as the world’s reserve currency.

Right now, the U.S. dollar is “the reserve currency of the planet, which means that all commodities such as oil, etc. are purchased in the currency of U.S. dollars.  That status has allowed us to do things with our currency that no other nation has EVER been allowed to do in ALL of human history.  We – and by “we” I primarily mean wicked, satanic Democrats – have exploited that with spending that is quite literally insane and evil.

And the world is RIGHT for hating us as we have given ourselves a way of life that the rest of the planet pays for.  It’s classic Democrat: we have redistributed the wealth (to ourselves).  Democrats are the kind of cynical, dishonest hypocrites who decry as evil the very thing they do AS THEY ARE DOING IT.   So they talk about the poor of the world when they don’t give one tiny drop of piss for the poor.

Obama’s morally insane economic policies forced the Federal Reserve’s fiscally insane policies.  The so-called “Arab Spring” – so euphemistically titled because pathologically stupid and wicked Democrats and liberal journalists idiotically believed it was a GOOD thing – was the result of the devaluation of the U.S. dollar that was the basis of all the Arab countries that sold oil.  Obama’s reckless and immoral policies have caused the Federal Reserve to essentially print and create money out of thin air beyond anything ever seen in the entire history of the human race.  And the result in the Middle East was their money becoming increasingly worthless and subsequent FOOD RIOTS.

Five of the next largest economies – the so-called “BRICS” of Brazil, Russia, India, China and South Africa – ALL want the U.S. role as reserve currency to be ended.  And don’t think our former ally Germany will oppose that move.

As a result of these three above factors, the United States will lose its status as reserve currency.  And we will completely economically collapse overnight.

It will be Obama’s fault, just as the complete military disgrace and failure if first Iraq and now Afghanistan was Obama’s fault.  And no one will be happier than Obama when America collapses.  Because Obama will have “fundamentally transformed America” just as he promised (as the ONLY promise this evil man will have kept).

The ultimate goal of progressive liberalism will soon be attained:

And he causes all, the small and the great, and the rich and the poor, and the free men and the slaves, to be given a mark on their right hand or on their forehead, and he provides that no one will be able to buy or to sell, except the one who has the mark, either the name of the beast or the number of his name. — Revelation 13:16-17

And if I may quote the reverend and spiritual advisor of Barack Hussein Obama:

“No, no, no!  NOT God bless America!  God DAMN America!”

The beast is coming.  He’s coming because you voted for and then re-elected his Most Useful Idiot-in-Chief.

China Just About To Overtake God Damn America As #1 Economy Due To Obama’s Failed Policies

May 1, 2014

Here’s an interesting fact: who is more “socialist”: Barack Obama’s God Damn America Or the (communist) People’s Republic of China?

The really scary thing is that it’s not even close: Barack Obama is FAR more communist than anyone in China.

Consider that your tax rate in the People’s Republic of China is 25% vs. your top federal tax rate in God Damn America of 39%.  And those Chinese don’t pay the state taxes that we also have to pay over here in good ole God Damn America.

If you want to understand why China owns us AND gets to eat our lunch at the same time, realize that the United States has THE highest corporate tax rate on planet earth.  AND a president who keeps saying the highest on earth still isn’t high enough.

I’ve watched dozens of Democrats who argue for higher taxes get asked the question, “How much should the rate be?”   And not ONE of them has ever answered.  The reason being THEY WILL NEVER GRAB ENOUGH OF OTHER PEOPLE’S MONEY OR ENOUGH POWER TO DOMINATE OTHER PEOPLE’S LIVES.

The last time this measure was taken when George W. Bush was still president, China had well under HALF (43%) the economy of America.  But under Barack Obama and under Barack Obama’s “God damn America” policies, we have tanked so fast it gives me vertigo to think about it:

China Set to Overtake U.S. as Biggest Economy in PPP Measure
By Bloomberg News
April 30, 2014 4:32 PM EDT   69 Comments

China is poised to overtake the U.S. as the world’s biggest economy earlier than expected, possibly as soon as this year, using calculations that take purchasing power into account.

China’s economy was 87 percent of the size of the U.S. in 2011, based on so-called purchasing power parity, the International Comparison Program said in a statement yesterday in Washington. The program, which involves organizations including the World Bank and United Nations, had put the figure at 43 percent in 2005.

The latest tally adds to the debate on how the world’s top two economic powers are progressing. Projecting growth rates from 2011 onwards suggests China’s size when measured in PPP may surpass the U.S. in 2014, which would be years earlier than many economists had previously estimated, according to Arvind Subramanian of the Peterson Institute for International Economics.

“There’s a symbolic element to this, to China overtaking the U.S., and that seems to be happening,” said Subramanian, a senior fellow at the Washington-based Peterson Institute. The latest data “plays to the idea that China is very big and getting bigger. It’s not to be underestimated.”

In a book published in September 2011, Subramanian estimated China became the world’s largest economy in 2010. While this was too early, the International Monetary Fund’s projections in its World Economic Outlook show China will move to the top in 2019, which is too late, he said today.

U.S. Share

The U.S. share of global GDP was 17.1 percent in 2011, while China was 14.9 percent, according to the ICP figures based on purchasing power parity, which seeks to compare how far money goes in each country. PPP calculates gross domestic product using exchange rates that adjust for price differences of the same goods between nations.

Yet China was well behind the U.S. based on another comparison, which looks at GDP in U.S. dollars at market exchange rates. By that approach, the U.S. share of 22.1 percent was more than double that of China’s 10.4 percent, the ICP data show.

JPMorgan Chase & Co. prefers to use market exchange rates for its “hard-nosed business cycle analysis,” said David Hensley, the bank’s director of global economic coordination in New York. That approach “gives a better sense of the resources that a country has command over.”

While JPMorgan keeps an eye on PPP comparisons as a secondary measure, it’s a hypothetical calculation which assumes one price level across all countries, Hensley said.

Different World

“That’s not the world we live in,” said Hensley. In addition to problems in measuring PPP, it “inflates the relative size and importance and command over resources that countries like China, India, Brazil or Russia have. That can create mistakes in judgment if you’re not careful.”

Hensley estimates that based on market exchange rates, the U.S. will stay in the lead until about 2024, when China crosses over as the world’s biggest economy, he said.

Changes in methodology contributed to the speed of China’s rise, according to the ICP report. Using market rates, U.S. gross domestic product was $16.2 trillion in 2012, compared with China’s $8.2 trillion. India vaulted into third place, ahead of Japan, the latest ICP figures also show.

This is what we voted for and this is what we deserve.

According to the Bible, America either will not exist or will be so weak that it will not matter one scintilla in the last days.

And while the fascist media keeps distracting us with one bright and shiny object after another, America is NOTHING like what it was just a few years ago as Obama has gutted America giant chunk by giant chunk.

The ONLY thing that makes the United States matter today – now that Obama has dismantled America’s military and pissed away our national security prestige – is the fact that since the end of World War II, the United States has served as the global reserve currency (with all commodities being bought and sold in U.S. dollars).

I have a vision of how that is going to change: now that Obama has gutted the American military and literally made America weaker than at any time since BEFORE our enemies decided to attack us to begin World War II, and now that Obama has so pissed away American credibility with his never mind “red lines” and his feckless response to Russian aggression that eerily parallels Hitler’s aggression in Europe, why does the United States even matter?

The major economies known as the BRICS (Brazil, Russia, India, China and South Africa) have all made it clear that they want to dump the US as the global reserve currency (see also here).  We have lost more than enough influence both strategically, militarily, economically and morally under Obama that it is only a matter of time before we don’t have enough people who need us relative to the growing list of countries that hate us.  Note that Obama has done EVERYTHING to cut the list of the former countries and ABSOLUTELY NOTHING to reduce the number of the latter.  In every region in the world, we are very clearly in worst shape than we were in when we cursed ourselves by electing Obama.  We have distanced ourselves from our former friends and emboldened and increased our current enemies.

One day, soon, as a result of our rapid decline under Obama, the world is going to cut its losses and dump the United States as the reserve currency.  We are facing a world in which we have too few friends, too many enemies, a growing list of enemies who are gaining power over us, and not enough influence to change a damn thing.  Russia and China and India will lead the effort to dump the dollar and we won’t be able to stop it.  And we will implode as no society in the history of planet earth has EVER imploded.  Because when you have a house of cards built on more than $225 trillion dollars of debt, you are going to fall HARD when you fall.

The worst of the Great Depression will seem like a pleasant stroll along a sunny beach compared to what’s in store for God damn America.

This is a nation that voted to perish.  And it is going to get – as God damn America – exactly what it voted for.

 

How The United States Of America Will Catastrophically Financially Implode SOON

October 15, 2013

Let’s start with this:

China calls for dollar to be replaced as global reserve currency
Upset that the U.S. fiscal impasse threatens to trigger a default that would roil financial markets worldwide, Beijing suggests ‘building a de-Americanized world.’
By Jim Puzzanghera
October 14, 2013, 5:23 p.m.

WASHINGTON — Five years after the U.S. financial crisis helped cause a deep global recession, foreign leaders are worried that history is going to repeat itself.

The fiscal impasse that has partially shut the federal government now threatens to trigger a U.S. default that would roil financial markets worldwide, leading an agitated China to suggest replacing the dollar as the international reserve currency.

“As U.S. politicians of both political parties are still shuffling back and forth between the White House and the Capitol Hill without striking a viable deal to bring normality to the body politic they brag about, it is perhaps a good time for the befuddled world to start considering building a de-Americanized world,” China’s official state-run news agency, Xinhua, said in an English-language commentary Sunday.

There is no viable alternative to the dollar as the centerpiece of the global financial system, and there probably won’t be for the foreseeable future, experts said.

But Washington’s debt limit standoff — coming on the heels of similar brinkmanship in 2011 — could accelerate efforts to find an alternative.

“The U.S. remains the core of the global financial system at this point,” said Nicolas Veron, a senior fellow at Bruegel, a think tank in Brussels. “But the sort of thing happening in the U.S. might move people toward a system less reliant on the U.S.”

China echoed calls from world financial officials urging an end to what it called the “pernicious impasse” in the U.S. over funding the government and raising the $16.7-trillion debt limit.

The Treasury Department has said the debt limit must be raised by Thursday or it will run out of borrowing authority. That would leave it dependent on just cash on hand and incoming revenue to pay the federal government’s bills. Given the world financial system’s dependence on the dollar, a default on payments of interest or principal on U.S. Treasury bonds would be catastrophic for the global economy, analysts said.

Treasury bonds and other dollar-based investments are used as the main form of collateral worldwide, so questions about their security would cause more problems than the financial system failures in fall 2008, said Benjamin J. Cohen, an international political economy professor at UC Santa Barbara.

“It would make the Lehman Bros. episode look like a garden party by comparison,” Cohen said.

The U.S. debt limit standoff was the main topic at the recent meetings in Washington of the International Monetary Fund and the World Bank.

Global finance ministers are worried that the uncertainty surrounding a U.S. default “would mean massive disruption the world over, and we would be at risk of tipping yet again into a recession,” Christine Lagarde, head of the IMF, told NBC’s “Meet the Press.”

Most countries hold their foreign exchange reserves in U.S. dollars because the currency is viewed as the world’s most stable.

“The very fact that more than 60% of central banks’ reserves are in dollars gives them every reason to be concerned,” Barry Eichengreen, a professor of economics and political science at UC Berkeley and a former senior policy advisor at the IMF, said of foreign governments. “If the bank in which you held 60% of your savings was threatening to default, you’d be concerned too.”

U.S. financial markets rebounded Monday amid optimistic reports from Capitol Hill about negotiations between Senate Majority Leader Harry Reid (D-Nev.) and Minority Leader Mitch McConnell (R-Ky.) to end the standoff.

China is the largest foreign holder of U.S. debt, with about $1.3 trillion in Treasury bonds, and probably more in other dollar-denominated investments. So the Beijing government is worried about the effect of a U.S. failure to raise the debt limit on those holdings.

The Xinhua editorial took swipes at the U.S. for claiming “the moral high ground” while “covertly doing things that are as audacious as torturing prisoners of war, slaying civilians in drone attacks, and spying on world leaders.”

Although it slammed the U.S. for the Iraq war and military activity around the world, the article focused much of its fire on the U.S. role in the global economy, saying “the world is still crawling its way out of an economic disaster thanks to the voracious Wall Street elites.”

“Most recently, the cyclical stagnation in Washington for a viable bipartisan solution over a federal budget and an approval for raising debt ceiling has again left many nations’ tremendous dollar assets in jeopardy and the international community highly agonized,” Xinhua said.

The editorial called for a “a new world order” in which “all nations, big or small, poor or rich, can have their key interests respected and protected on an equal footing.”

That new order should start with respect for the sovereignty of other nations, the editorial said. It also should include major financial reforms, such as allowing developing and emerging economies to have more say in the operations of the IMF and the World Bank.

China has been pushing since at least 2009 for the dollar to be replaced as the world’s reserve currency. The nation has not only called for a new international currency to be developed but also has been taking steps to make its currency, the yuan, more acceptable as a potential alternative.

“They never lose an opportunity to take advantage of embarrassing behavior by the United States,” Cohen said. China made similar calls in 2011, when a debt limit standoff was resolved at the last minute.

But the Chinese currency and its financial system are not ready to be the world’s reserve currency, experts said. Even the euro and Japanese yen aren’t prepared to do that because they lack the liquidity of the dollar.

Still, the latest Washington crisis could push the world to seek ways to diversify the financial system away from its dependence on the dollar, Cohen said.

“The only thing that can hurt the dollar these days is political dysfunction in Washington. We’re shooting ourselves in the foot,” he said. “The more we play these games in Washington, the less confidence people will have in the dollar and the more incentive people will have to do this diversification.”

The first thing I couldn’t help but notice is how communist China’s demagoguery sounds almost exactly like Obama’s demagoguery.  They’re both talking down America hoping that the worst will happen to this country because each (i.e, China and Obama) believes their political goals will be attained through America’s demise.  But moving on…

I don’t know whether the Los Angeles Times – which is staffed by liberal ideologue propagandists as opposed to actual “journalists” is simply being incompetent in this story or being the propagandists that they are (i.e., the backstory is that the “default” is the Republicans’ fault, and ergo sum the global meltdown over the “default” will be all the Republicans’ fault, too).  But here’s a fact that kind of pees all over some of the main assertions in this story:

From November 24, 2010 (the money quote is boldfaced at the end):

China and Russia have agreed to allow their currencies to trade against each other in spot inter-bank markets.

The motive is to promote the bilateral trade between China and Russia, facilitate the cross-border trade settlement of [the yuan], and meet the needs of economic entities to reduce the conversion cost, according to Chinese officials.

This latest move — a continuation in a series of efforts by both countries to move away from  U.S. dollar usage in international trade — further threatens the dollar’s reserve currency status.

The dollar has this status because it is currently the currency of international trade.

For example, when Malaysia and Germany exchange goods, the transaction is often denominated in dollars.  In particular, oil — something that all modern economies need — is denominated in U.S. dollars, so the currency is almost as indispensable as oil itself.

The dollar reserve currency status allows the U.S. to run up high deficits and have its debt be denominated in the U.S. dollar, which in turn enables it to print unlimited dollars and inflate its way out of debt. America, understandably, wants to protect these privileges. […]

Meanwhile, China and Russia are gradually revolting against the U.S. dollar. This latest move to shift bilateral trade away from it is significant in itself because China-Russian trade — previously denominated in dollars — is currently around $40 billion per year. For Russia, trade with China is larger than trade with the U.S.

Moreover, as this policy extends to Russian exports of oil and natural gas to China, it threatens the global petro-currency status of the U.S. dollar.

According to the International Energy Agency, China is already the largest consumer of energy,  although the U.S. is still the largest consumer of oil. However, China, now the largest automobile market in the world, is expected to rapidly increase oil consumption.

Russia is already the second biggest oil exporter and the biggest natural gas exporter in the world.

In other words, the growing importance of Russia and China in the global energy picture — and their phasing out of dollar usage for trading energy commodities — would marginalize the status of the dollar.

Russian ambitions against the dollar for energy exports go back to 2006. That year, former President Vladimir Putin made plans to set up a ruble-denominated oil and natural gas stock exchange in Russia.

So, in fact and contrary to the Los Angeles Times “reporting,” the movement away from the U.S. dollar as the reserve currency in fact PREDATES the financial crisis – and goes back to at least 2006 (I would argue it goes back even further than that, but I’ve proven my point: the financial crisis happened in late 2008).  So the LA Times is simply wrong in its thesis that the debt ceiling issue – which they over and over again hype as a “default” – is just plain bogus.

When we consider that Barack Obama demonized George Bush and ostentatiously voted against his debt ceiling (and didn’t bother to even show up and vote when the debt ceiling was raised other times during the Bush years – such that HE NEVER DID VOTE FOR A BUSH DEBT CEILING INCREASE other than when he voted for TARP – you also see the deceitful and dishonest propaganda that is going on.  It’s always “that was then” with these people; it’s always “It’s only fascist when THEY do what we did” with them.  Such as the fact that Obama did a press conference demonizing the GOP for not voting for his debt ceiling hike without ever bothering to so much as mention the fact that Obama did the exact same damn thing and how could the Republicans be anything but just as evil as the man who was now demonizing them???

Nor will that same blatantly dishonest media point out that Democrats shut down the government over the debt ceiling EIGHT TIMES during the Reagan presidency.  Because that would prove the lie to Obama’s “this has never happened before” and “no party has ever been this bent on destroying America” load of garbage.

Nor will they point out that it has largely – if not exclusively – been OBAMA who has fearmongered the debt ceiling rather than the Republicans.

The dishonesty of the mainstream media is simply breathtaking.

Having said that, let’s continue and examine this “default.”  Because it, too, is just a lie of propaganda:

Black’s law dictionary has this to say about “default”: The omission or failure to fulfill a duty, observe a promise, discharge an obligation, or perform an agreement [or observe a promise or discharge an obligation (e.g. to pay interest or principal on a debt when due ].

Come October 17 if our dysfunctional Washington hacks do not raise our debt ceiling, ominous forecasting of imminent default on our $17 trillion burden pound the airwaves. Prevarications foisted by the progressive press-corps regarding the United States becoming delinquent on its Treasury debt are as preposterous as they are disingenuous.  Whether premeditated lying or, equally likely, out of a stark darkness of matters economic the result is the usual fear mongering we have come to expect from their rumor mills.

Inconvenient as they may be, some facts are in order. The fiscal 2013 debt service for the twelve months ending September 30 will be somewhere around $420 billion. (Per the Bureau of Fiscal Service the actual figure of 11 months through August was just under $396 billion). IRS revenues for the calendar 2012 tax year will probably be around $2.3 trillion. That equates to over a five and a half times debt service coverage. So having enough money is not even close to the issue. There has been some discussion of what some are naming “prioritization of payments”.

Democrats are truly evil to fearmonger a “default” to falsely demonize and slander their opponents at the expense of the U.S. economy.  And Barack Obama is the most recklessly irresponsible president in the entirety of American history to join them in their lies.

To wit, we could easily pay our debt and NOT default.  And we could do that for not months but for years to come, if necessary.

If that isn’t enough, Republicans have already done the leg work to prevent any kind of “default”:

Sen. Pat Toomey and more than 30 Senate colleagues will introduce the “Ensuring the Full Faith and Credit of the United States and Protecting America’s Soldiers and Seniors Act.”

The bill is meant to offer a stop-gap if Congress refuses to raise the debt ceiling and the Treasury Department thus falls short of having enough cash to pay all the government’s bills in full and on time.

Toomey’s proposal would require that revenue going to Treasury first be used to pay interest on U.S. debt, Social Security benefits and active-duty military pay.

If there’s not enough revenue available to cover those payments when they’re due, the bill would also give limited authority to Treasury to raise the debt ceiling just enough to borrow the difference between revenue on hand and what’s owed on the priority payments.

I’ve pointed out the fact: if there IS a “default,” it will be because Barack Hussein refused to allow the Treasury to make the interest payment that the United States could in fact make.  He has already demonstrated that he is a genuinely evil man who is trying to make the political impasse as harsh and as painful as he possibly can in order to falsely demonize Republicans.

There is one and only one genuine fact in the Los Angeles Times piece: that of China’s demand that the United States be replaced as the reserve currency of planet earth.

That WILL happen soon.  Because Democrats WILL NEVER REIGN IN THEIR DEMONIC SPENDING.

The true debt of the United States is not the “paltry” $17 trillion that we keep hearing about; it is actually well WELL over $222 TRILLION.  Our actual debt, our “fiscal gap” between our debts and our ability to actually pay for all the crap Democrats keep imposing on America, is going up about one trillion dollars every single MONTH.  Because politicians are liars who paper over debts with more debts and then cover those debts up with still more debts.

Democrats are the worst addicts who ever existed.  Heroin, coke, crank, meth, crack addicts got NOTHIN’ on Democrats.  Because Democrats are addicted to money and the power that their money buys them – and they are addicted to it TRILLIONS OF DOLLARS AT A TIME.

The only reason Democrats can keep this insane game of insane spending going is because America is the world’s reserve currency.  The fact that all commodities such as oil are bought and sold in U.S. dollars has given us an unprecedented ability to basically just print money and keep escaping the consequences.

We have been just plain flat-out DEPRAVED in our spending.

As an example, do you know what triggered to insanely-titled-by liberals “Arab Spring” in which Arab regimes fell to be replaced again and again by terrorist-sponsored governments?  Food riots induced by Obama’s Fed as they kept printing more and more money and basically just adding more and more zeroes to the Federal Reserve computers.  As we printed more money, the Arab states that depended on the stability of the dollar saw massive inflation (because THEY can’t print more dollars their dollars became worth less = worthless).

Well, as Obama’s reverend once said, the chickens are about to come home to roost.  And they will roost on a collapsed, doomed, dead former United States of America.  And very soon.

One day, soon, the world will have had enough.  One day, soon, our stint as being the reserve currency and maximally exploiting that status with reckless and immoral spending that we can’t possibly afford will be ended FOR us.

And China will step in and take ownership.  And kick you and our family out of your home in the cold if you can’t pay their “damned American imperialist” rent surcharge.

Our time is coming.  We’ll get ours.  We’ll get what we deserve as a nation for being wicked enough to elect and then re-elect Obama: we’ll get Dodo bird extinction just like we deserve.

The United States is nowhere mentioned in Bible prophecy; that’s because America will have collapsed and simply be irrelevant as we enter these last days just before the beast of the Book of Revelation comes to impose his mark and doom the world to suffering and hell.

Debt Ceiling Fiasco Again Shows Obama Polarizing, Dishonest And In Over His Head

July 23, 2011

First of all, this debt ceiling issue is critical and could literally lead to the complete collapse of the United States.

The U.S. dollar is the official global “reserve” currency.  Commodities such as oil are bought and sold exclusively in dollars.  And because of this status, the United States is not only able to purchase these commodities much more cheaply than other nations, but it can borrow more and finance its debt at far cheaper interest rates.

Here is an article dated 10 February 2011 containing a VERY ominous threat to the status of the dollars as the reserve currency:

NEW YORK (CNNMoney) — The International Monetary Fund issued a report Thursday on a possible replacement for the dollar as the world’s reserve currency.

Major countries such as China, Russia, India and Brazil have already determined that they want to END the almighty status of the U.S. dollar.

And note all of these articles precede the current “debt ceiling fiasco.”  Which is to say that this was ALREADY a growing crisis.

If the United States defaults on any of its debt – or even if the U.S. credit rating is downgraded – the consequences could be utterly devastating.  Our low interest rates will shoot upward beyond our ability to continue financing debt; we will suddenly have economy-killing oil and commodity prices.

This wouldn’t have been such a terrible crisis if Obama had been honest and promised that the U.S. would and could meet its obligations.  Instead he used the debt ceiling deadline (said “deadline” already having been changed three previous times) to dishonestly demagogue and fearmonger the crisis ala Rahm Emanuel’s “never let a serious crisis go to waste” advice.  In short, OBAMA LARGELY MANUFACTURED THIS CRISIS.  Because all the rating agencies have done is take Obama’s demagogic rhetoric seriously.

I have said a number of times on this blog that when the Unites States financially implodes, it will happen very fast.  And this could be the last card in the house that makes the whole unstable structure come crashing down.

And here’s the thing.  Who is leading America through this minefield?

Barack Hussein Obama.

He is THE most inexperienced and unqualified president in U.S. history.  Hillary Clinton RIGHTLY ran the “3 A.M.” ad against him:

Joe Biden RIGHTLY said Obama was not ready to be president:

Sen. Joe Biden (D-DE) Reaffirmed That Obama Was Not Ready To Be Commander In Chief. ABC‘s George Stephanopoulos: “You were asked is he ready. You said ‘I think he can be ready, but right now I don’t believe he is. The presidency is not something that lends itself to on-the-job training.’” Sen. Biden: “I think that I stand by the statement.” (ABC’s “This Week,” 8/19/07)

Sen. Biden: “Having talking points on foreign policy doesn’t get you there.” (“Biden Lashes Out At Obama,” ABC News’ “Political Radar” Blog, blogs.abcnews.com, 8/2/07)

Barack Obama’s primary qualification for being president was that he had been a U.S. Senator for only 142 days prior to announcing his run for the presidency.  Prior to that, he had been a nobody.  He had been a nobody Illinois state senator.  He had been a community agitator.  He had NEVER ran a business and he had NEVER met a payroll.

Barack Obama is also THE most liberal and radical president.  He was THE most liberal Senator in the entire nation prior to announcing his run for the presidency.

Barack Obama is also the most divisive and polarizing man to ever serve as a president of the United States.  And to quote:

“President Barack Obama is the most polarizing president in American history, according to a poll released by the Gallup organization Monday.

The average difference in Obama’s approval ratings between Democrats and Republicans turned out to be 65 percent — the highest first-year gap of any president so measured.”

And Obama is the most cynical and dishonest president in United States history.

Obama ran as a transformative candidate who would transcend the political divides.  As the New York Times wrote:

WASHINGTON — At the core of Senator Barack Obama’s presidential campaign is a promise that he can transcend the starkly red-and-blue politics of the last 15 years, end the partisan and ideological wars and build a new governing majority.

To achieve the change the country wants, he says, “we need a leader who can finally move beyond the divisive politics of Washington and bring Democrats, independents and Republicans together to get things done.”

But this promise leads, inevitably, to a question: Can such a majority be built and led by Mr. Obama, whose voting record was, by one ranking, the most liberal in the Senate last year?

History proves that was an evil lie.  You just TRY to show me how this country is more unified now than it had been.  Anybody who isn’t an abject MORON knows that’s ridiculous.  And if you’re a liberal and want to argue that Obama’s failure to fulfill the above promises was somehow all Republicans’ faults, then let me simply point out that it was an incredibly STUPID as well as incredibly dishonest and cynical promise to make.  Because only the worst and frankly most demented of fools would not have realized that the other party would not follow him like some pied piper.

But when you read my article that refers to the New York Times article above, you will immediately see that Obama never even bothered to TRY to live up to his “core promise.”  He was divisive and imperious from his very first day.  Obama poisoned the well between Democrats and Republicans with his “I won” crap.  He shoved a “stimulus” that ultimately was a $3.27 TRILLION Keynesian boondoggle down the nation’s throat on a bunch of false promises that it would create jobs and get America out of recession.  He shoved a terribly unpopular socialist takeover of our medical system.  Everything the man has done has polarized and divided the nation.

By the way, Obama’s dishonesty literally permeates from Obama’s very first decision to even break his promise and run for president:

SEN. OBAMA: I will serve out my full six-year term. You know, Tim, if you get asked enough, sooner or later you get weary and you start looking for new ways of saying things, but my thinking has not changed.

MR. RUSSERT: But, but—so you will not run for president or vice president in 2008?

SEN. OBAMA: I will not.

Governor Chris Christie has similarly promised he would not run for president.  I have a feeling that Christie is a far more honest man than Obama and will stick to his word.  More on that later.

Obama began his presidency by breaking his promise not to run for president.  Obama’s “core promise” is now clearly revealed to have been a cynical lie.  The man has lied without shame so many times it is unreal.  And it becomes ridiculous to try to keep track of his lies.

Obama is also a pathetic incompetent.  He is a disgrace to the presidency.  He presided over a Democrat Party that had complete control of both the House and the Senate and his government couldn’t even produce a budget.  It was an unprecedented dereliction of a basic duty.  And we’re at something like the 815 day mark since the Democrats last passed a budget.  And Obama was the man in charge of this abject fiasco.

And then when Obama himself finally came up with a budget earlier this year, it was just a useless piece of garbage that it was voted down 97-0 in the DEMOCRAT-CONTROLLED United States Senate, with not even one DEMOCRAT able to say, “This budget WASN’T the brain-dead result of a complete fool who is an utter disgrace to this country.”  Obama is out doing press conference after press conference pretending that he wants to reduce the deficit; BULLCRAP!  That terrible budget fiasco he submitted would have added $12 TRILLION to our debt!!!

And if you’re fool enough to try to argue that Obama ISN’T incompetent, you explain those two facts.  You explain how Obama and his party could preside over this kind of complete failure to perform even the most basic function of governance.

Yesterday Harry Reid shut down any vote of the House-passed cut, cap and balance bill.  That bill has the distinction of being the ONLY bill that has passed either house of Congress or the White House that would solve our debt ceiling crisis, for what it’s worth.  No vote.  No debate.  Harry Reid just shut both down using his status as Majority Leader.  Reid called the cut, cap and balance bill “weak and senseless” and “perhaps some of the worst legislation in the history  of this country.”  Apparently because this racist bigot Reid liked the Fugitive Slave Act that his Democrat party once passed.

Meanwhile, the Democrats who refused to even DEBATE or VOTE on the ONLY bill that ANYBODY has passed to solve our debt crisis continue to say that Republicans are “unreasonable.”  Because apparently shutting down discussion on the ONLY piece of legislation we’ve got to save this country is “reasonable.”

So Democrats don’t have anything to offer but demagoguery and demonization.

Obama is discussing some kind of deal without bothering to have anything on the table.  Speaker of the House Boehner has described negotiating with Obama as trying to negotiate with Jello that’s been left out of the refrigerator.  He’s all over the place because he doesn’t have any proposal of his own to adhere to.

Senator Jon Kyle said:

SEN. KYL: But we have no idea what he’s talking about.  That’s the problem. Republicans are not willing to make a deal based upon some vague commitment that, sometime in the future, the president might be willing to look at something that he won’t identify.

It is an abject disgrace and a complete failure of leadership that Obama doesn’t have a plan to argue from or rally consensus to.

Oh, oh.  I just said “failure of leadership.”  Which forces me to quote Barack Obama on what even asking for an increase in the debt ceiling means in his own words:

“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure,” he said. “It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Leadership means that ‘the buck stops here.’ Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt and a failure of leadership. Americans deserve better. I therefore intend to oppose the effort to increase America’s debt limit.”

That remark from Barack Obama alone epitomizes why this fool has ZERO BUSINESS being president of the United States.  The VERY WORST THING any Democrat can possibly say about Republicans is that they are being as despicable and cynical as THEIR OWN WORTHLESS DISGRACE OF A PRESIDENT.

How DARE this fraud lecture anybody about anything related to the debt ceiling after his own shrill demagoguery?!?!?

And so here we are.  We’ve got a president who is clearly incompetent, who has proven himself untrustworthy, attempting to pass a deal without having any kind of a plan whatsoever about what he wants to get done.  Republicans have nothing to examine and nobody to trust.

Republicans have been burned more than once by dishonest Democrats who want tax hikes now and promise cuts later.  The fact of the matter is that no agreement can bind a future Congress.

We may well be going down because we voted for the Antichrist’s useful idiot.  In voting for Barack Obama, we voted to cut our own throats.

Just remember this is God damn America.  And we’re getting precisely what we voted for.

One last thing.  The ONLY reason we “need” to raise our debt ceiling is because Washington CANNOT get it’s act together and CANNOT stop itself from reckless spending.  We need to cut spending, not raise our debt ceilings over and over again.  We need a balanced budget amendment, not four more years of Obama’s reckless policies.