12 Scary Debt Facts: http://finance.yahoo.com/news/12-scary-debt-facts-for-2012.html
1. The U.S. national debt on Jan. 1, 1791, was just $75 million dollars. Today, the U.S. national debt rises by that amount about once an hour.
6. The U.S. national debt has more than doubled since the year 2000.
• Under President Bush: At the end of calendar year 2000, the debt stood at $5.629 trillion. Eight years later, the federal debt stood at $9.986 trillion.
• Under President Obama: The debt started
8. The U.S. national debt rises at an average of approximately $3.8 billion per day.
9. The US government now borrows approximately $5 billion every business day.
It does not matter whether it is Democrat or Republican president; the national debt is out of control.
Better sell dollar and buy gold (GLD) and silver (SLV).
There actually was a major world government that had similar debt burdens and ratios in modern history. The USSR.
The goal of the Cold War was to merge the USA and the USSR, as per the Joint Chiefs of Staff. Did they take us over, letting them out. Or did they let us in?
The Soviet used to print cash and debt at about Half the pace the USA is now.
The Wallstreet and Euroland Bankers put in power, and kept the Soviet in power.
By stripping the Soviet Peoples of their assets. Gold, property, gain and oil.
Wallstreet stripped the citizens of Europe prior to WWII of their assets, by issuing unlimited debt. Cash is issued in the form of debt, which is why Treasury requests the cash, and the FRB issues the debt in the form of Federal Reserve (Promissary) Notes. Those wheel barrows of money in Europe prior to WWII, came from Wallstreet(FRB) type bankers issuing debt to print the cash with. Thus they stripped the citizens of the various Republics by taking tax payments from the citizens, while burying them in ledger entry debt that was issued in the form of cash. Most people never see cash issued inflation debt as devaluation of their assets.
The Federal Reserve only owns ledger entry debt on the USA. It could just erase the ledger entries at any given point and not be any better of worse off. Unlike property assets which are collateralized debt, the USA/FRB debt is just ledger entry, no backing debt. Which is why mortgage values are not listed on Wallstreet FRB balance sheets at mark to market vs USA Debt which is carried at whatever value the dollar index is.
The European debts are actually coming down, but the U.S. debts are going up. Eventually the dollar will go back down big time to new lows. The U.S. debt situation is not in much better shape than Greece.
One of these days when we have a weak leader in white house such as carter, we will be staring into the abyss of hyperinflation, and the only way out would be actual gold coin currency, which is legal tender all over the world. They would be like Euro for Eurozone. It would be called EuroDollar, and there would be machines that can authenticate any gold coin. There will be 100 ED and 50 and 25 and so on. each would be traded at one gram for 100 Euro dollars
CRB broke downtrend and rally ballistic is another sign that short dollar is a correct trade for long term. if you short dollar, then you might as well short treasury, because interest rate will go up.