understand this, please

[Vonne]

I beleive their is probably a big plan in place allready for the main foreighn holders of greenbacks like China and some of the opec nations to all dump their greenbacks at the same time and put everything in Euro's.

You understand thats technically impossible.

[George]

Quote:

"When you start hearing about the oil being traded in any other currency, We've been hearing about this for years."

I thought Iran has already started doing this earlier this year !!! Correct me if I am wrong ...

http://www.globalresearch.ca/index.php?context=viewArticle&code=CLA20060210&articleId=1937

[Bernardd]

Right now we are so far in debt that right now foreigh Economies must invest Billions of dollars a day into U.S. Gross national product just to keep us secure at the bottom of the hole we are in.

There seems to be a lot of confusion on this issue. Correct me if I'm mistaken, but GNP is simply a measure of goods and services produced by a country both internally and externally. THus, it has little if anything to do with investments; it's all about purchasing. It might be considered that countries do not purchase American goods simply to "help us out." They buy our products because they need them. In fact, without our products, they themselves would be in trouble.

That being said, countries that invest in America are issued Treasury Bills. These are solid investments because the U.S. govenment (so far) is a strong and stable govt. Therefore, foreign countries face little if any risk purchasing T-bills. They are pretty much guaranteed that their investment will pay off. The same holds true with Americans and American corporations (as well as State Govts) who also invest in T-Bills.

And though the $8-9 trillion national debt SEEMS to be ridiculously high, it should be looked at in terms of the nation's GNP/GDP, which is currently well over $12 trillion.

Of course, please don't think I"m suggesting that the debt is acceptable. Clearly it's not. In fact, I would argue what's been going on is nothing less than criminal. The fact that our government (or its politicians in Congress) can't pass a balanced budget is beyond incomprehensible. What they've done is unethical, immoral and (as I said) criminal.

I heard today that this year's budget has been approved at $2.9 trillion!!!!!!!!! My question is: What on earth is Congress doing with all this money?!

I know, some of you may argue that it's being dumped into Iraq. But let's get serious. We're spending a "meager" few hundred billion on Iraq per year. Granted, perhaps that money could be spent better at home, but what about the OTHER $2.5 trillion our govt already spend at home!!?? (My point is, why do people complain about the cost of the war and suggest that the money we're spending in Iraq would be better spent at home? We're already spending gazillions of dollars at home and seemingly have little or nothing to show for it.) :idunno

Therefore, I don't see the current debt as a problem, since I believe our govt could function quite well on half of what it's spending today. (Thus we could pay the national debt off in about 4 or 5 years if we really wanted to.) However, Congress has gone absolutely crazy.

Anyway, this is just my two-cents worth. I just hope we can elect some Congressmen who actually want to balance the budget and stop the run-away spending on programs that provide NOTHING!!!!

[turtle]

Well i could be wrong about it.
I really hope its all going to be ok.
But their are economic experts that say this nation is Broke.
They say its like a big over inflated bubble that has to pop sometime.

And i do beleive that many nation invest money into U.S. is because thay are trying to help us.
Help us stay afloat so we can keep consuming.
We are By far the biggest consumers on the planet.
If we for some reason could not consume anymore it would leave a pretty big vacume.

SO if they perchase 2 billion a day from us so we can perchase 10 billion a day from them and everything in the stores here say made in China...

I just don't know..:idunno

[ready2leave]

Well maybe inflation is the reason I hear so many people on this board say, "the Lord is telling me to prepare" [as in food supplies and such]. If the US does eventually collapse, these people are then wise to prepare.

[CelticMist]

Well maybe inflation is the reason I hear so many people on this board say, "the Lord is telling me to prepare" [as in food supplies and such]. If the US does eventually collapse, these people are then wise to prepare.

Yes, we all should prepare while watching and listening. We are not to be like the five foolish virgins... but be like those five that had extra jars of oil. Yes, I know this refers to the Bridegroom coming, but we can also use this same passage in our living in the present.

It is better to be prepared then it is to be off guard and caught with your shoes under the bed in the guest room, so to say.