WN: It's a deal: Obama, Congress will avert default - AP

[SavedByGrace1980]

One of my friends made this note (posted on FB):

"Two ways US can default:

(1) Don't pay on time - the current hubbub;

(2) Pay it back with dollars worth much, much less than the ones initially borrowed. Both houses of Congress and the President have chosen the second path - their bills aren't so different after all. High inflation is coming. Are you ready?"

"If the government borrowed 1 dollar back in 1971 (when Nixon ® took us off USD-gold convertability)... today 40 years later they'd only owe 2.5¢. That's the idea behind default by inflation. It's politically painless for our leaders but kills the buying power of your bank account. You need hedges like gold, real estate, and commodities if you want to preserve your savings."

I can't help it, but Matthew 6:19-21 comes to mind:

19 "Do not store up for yourselves treasures on earth, where moth and rust destroy, and where thieves break in and steal. 20 But store up for yourselves treasures in heaven, where moth and rust do not destroy, and where thieves do not break in and steal. 21 For where your treasure is, there your heart will be also.

Those who are in their 50s, 60s or older will remember the "bomb shelters" of the cold war era. They were quite the rage in the late 1950s and early 1960s - especially after the Cuban Missile Crisis.

We never had one. I think my dad must have figured that - even if one were to survive the nuclear holocaust by diving into a bomb shelter, what kind of world would there be when they came out? Would it be a world in which we would want to live?

It's kind of the same way I feel about the financial collapse that is to come. Yes, it probably makes good financial sense to own gold or property, but if it is really going to be a lawless as I think it will be - how would I hold onto it against someone bigger or stronger than I?

We may or may not be in the Biblical last days (I believe we are, but no matter). In either case, I don't think God is going to forsake His own.

Blessings!

-Ed

[other one]

Foreign currencies ARE a good investment right now.....just have to be careful to invest in the right ones. Skip the yen and the yuan and invest in Australian or Canadian dollars.

Why? (From person who has no clue.)

Because the Canadian dollar is very strong.

They did not have our housing or banking crisis because they did not deregulate everything.

Their unemployment rate is lower than ours. Their GDP is growing at a faster rate than ours. They also do not have the huge military industrial complex to finance that we do. They tend to stay out of everyone elses business.

Do you mean like our founding fathers advised us to do....

[~candice~]

Foreign currencies ARE a good investment right now.....just have to be careful to invest in the right ones. Skip the yen and the yuan and invest in Australian or Canadian dollars.

Why? (From person who has no clue.)

Because the Canadian dollar is very strong.

They did not have our housing or banking crisis because they did not deregulate everything.

Their unemployment rate is lower than ours. Their GDP is growing at a faster rate than ours. They also do not have the huge military industrial complex to finance that we do. They tend to stay out of everyone elses business.

Australia doesn't have a sub prime market,, thanks to good fiscal regulations. Unemployment hovers about 4.5%. In the last 6 months our dollar has shot to $1.10 USD and our budget deficit will be closed before 2015...

[Fez]

Shiloh375 said on chat today...

"I asked my broker what i should be buying right now"

He answered..

"With the current administration, guns, water and canned goods are a good bet"

[SavedByGrace1980]

Australia doesn't have a sub prime market,, thanks to good fiscal regulations. Unemployment hovers about 4.5%. In the last 6 months our dollar has shot to $1.10 USD and our budget deficit will be closed before 2015...

Just curious . . .

Are you guys accepting any new immigrants?

Blessings!

-Ed

[Shiloh62]

Ending a perilous stalemate, President Barack Obama and congressional leaders announced a historic agreement Sunday night on emergency legislation to avert the nation's first-ever financial default.

http://www.worthynews.com/top/news-yahoo-com-deal-obama-congress-avert-default-012714959-html/

Now lets concentrate on lowering the celing,rather than raising it.

[~candice~]

Foreign currencies ARE a good investment right now.....just have to be careful to invest in the right ones. Skip the yen and the yuan and invest in Australian or Canadian dollars.

Why? (From person who has no clue.)

Because the Canadian dollar is very strong.

They did not have our housing or banking crisis because they did not deregulate everything.

Their unemployment rate is lower than ours. Their GDP is growing at a faster rate than ours. They also do not have the huge military industrial complex to finance that we do. They tend to stay out of everyone elses business.

Australia doesn't have a sub prime market,, thanks to good fiscal regulations. Unemployment hovers about 4.5%. In the last 6 months our dollar has shot to $1.10 USD and our budget deficit will be closed before 2015...

Hmmm could it be that America could perhaps learn somthing from countries that make sure all their citizens have healthcare and do not lose everything once they become ill?

And could it be that regulation is a good thing as it limits corporations ability to rape the people and destroy economies?

Perhaps America should stop telling everyone what a superpower we are and take a lesson from those who are not so "super" but manage to take care of their people while remaining fiscally sane.

Brave words Katy. Yes, the world is watching. We've not missed this point. If you (corporate you) call yourself the land of the free, and think the American system is the best above all else any where else in the world... how did you get here? It's amazing how terrible and evil Obama is reported to be, and how much damage he has done to America, until this point is brought up, and then even the despite debt and disappointment and cries over lack of representation, there is an ego that says the American system is still superior to any other. I'll keep what I have, thanks.

[nebula]

They also do not have the huge military industrial complex to finance that we do. They tend to stay out of everyone elses business.

Do you mean like our founding fathers advised us to do....

Unfortunately, that is a whole other debate.

Conspiracy or not, what would have happened had the US managed to stay out of WW1 and/or WW2? (Which makes one wonder if WW2 would have begun had the other side won the 1st war...?)

Yeah, best not to divert this thread into this debate.

[~candice~]

Australia doesn't have a sub prime market,, thanks to good fiscal regulations. Unemployment hovers about 4.5%. In the last 6 months our dollar has shot to $1.10 USD and our budget deficit will be closed before 2015...

Just curious . . .

Are you guys accepting any new immigrants?

Blessings!

-Ed

Yes, but we don't keep them any more, we send them to Malaysia.

[nebula]

Foreign currencies ARE a good investment right now.....just have to be careful to invest in the right ones. Skip the yen and the yuan and invest in Australian or Canadian dollars.

Why? (From person who has no clue.)

Because the Canadian dollar is very strong....

Australia doesn't have a sub prime market,, thanks to good fiscal regulations. Unemployment hovers about 4.5%. In the last 6 months our dollar has shot to $1.10 USD and our budget deficit will be closed before 2015...

OK, so the next question is why skip the yen and yuan?