A Very Depressing U.S. Morning
What is a Trillion?
From the prefix tri-, meaning three + -illion (from million); i.e. a million million million.
Coined by Jehan Adam in 1475 as trimillion.
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A personal note from Blogmeister Mark. “A bad day today is signaling ugly times ahead for the US of A”
I awoke to the cheerful over caffeinated voice of the morning news. CNN news cheerleader Kiren Chetry was the first thing I heard around 7AM EST. This is what she said:
“Ahead this morning on CNN, why the President’s LATEST Trillion dollar bail out plan is a good deal for your money!”
I don’t care what they say, who said it or on what channel…plain and simple…the TV news people are lying to your face. We’ve all know this for years now, but their chatter has just never come to such an idiotic level no….such a humorous level of blab. All the Whitehouse press, all the Obama volunteers and all the happy thoughts you can muster will never again create any kind of long term success with more than $10 Trillion in debt. Everyone knows it.
This is a cruel joke being played on all Americans and those who hold US Federal Reserve Notes (money). I’m shocked this is happening but at the same time, I’m not surprised. Greedy bankers, Wall Street Jocks and credit bubbles have led the world to this day. It is over for the dollar. I don’t care if you believe me or not, I’m tired of preaching about it. If you snooze on this one, you will lose big. It’s time to stock up the Central American home and keep my head down. I advise all of you to do the same. Don’t call me a year from now I don’t want to hear it.
Here’s Bob Moriarty, one of the smartest guys around posting to 321gold….
The Mother of All Depressions (MOAD)Bob Moriarty The US government lit the fuse to the $683 trillion dollar derivative’s debt bomb on Wednesday March 18, 2009 with the announcement the Fed would purchase $300 billion dollars worth of US Treasury used toilet paper and an additional $750 billion dollars worth of mortgage backed used toilet paper. In total the commitment to counterfeit over a trillion dollars leaves only $682 trillion dollars worth of derivatives to sort out. Economics is all about price discovery. No one knows what the real value is of the $683 trillion dollars in derivatives. No one knows who owns what. No one knows who owes what. If left to its own devices, the market would lower prices until all assets had a value to someone. The government in its infinite wisdom has just short-circuited this discovery mechanism. This is the end of the dollar. Everyone with any sense on earth will be unloading both their treasuries and mortgage-backed crap on the Fed. The Fed has just pissed $1 trillion of counterfeit money into a $683 trillion dollar cesspit. It can’t possibly fix the problem. When the world realizes the impact of the Fed monetizing all debt, there will be a total default. And then what happens? The Mother of All Depressions. The ability to publicly fund its debt has been what has kept the US government spending. Once that ability is dead, so is the government. The meeting of the G20 in London on April 2, 2009 will be the most important financial meeting in history. If the delegates do not adopt a new gold standard of honest money, the dollar will totally default within a few months. The fuse has been lit. There is nothing the government can do beyond what they have already done. Nothing has worked. Nothing can work. Bob Moriarty |
