Countdown to Chaos: U.S. Politicians ‘Play’ Blowing Up the World

posted by Ida B. Wells IV @ 18:14 PM
October 9, 2013

Wile-E-Coyote-blows-himself-up    Some in the U.S. House of Representatives have moved circling chaos beyond the Affordable Care Act to failure to raise the U.S. Debt Ceiling.  Most Americans have no idea how such a move would affect their lives.

According to experts, defaulting on U.S. debt would probably: halt social security payments; implode savings, investment and retirement accounts; make banks insolvent; crash the stock market to unimaginable levels; destroy bond holdings, etc.  All of which means more than horrendous consequences.

“If they seriously default on the debt, what we’re really talking about is a depression . . . the fallout would be a lot worse than the recession suffered in 2008 and the aftershocks would be felt for at least a decade,” veteran financial sector analyst Richard Bove of Rafferty Capital Markets told Yahoo Finance.

“The first thing you have to do is look at who holds the debt. The first, biggest owner (of U.S. debt) is the social security fund, so you’d have all of these people who are receiving social security payments who now have to question whether they’ll get their payments.”

Already, The Extension Protocol reports, banks are over-stuffing their ATM machines in case depositors attempt panic withdrawals.  Tyler Durden of Zero Hedge adds:  “Banks are also holding daily emergency meetings to discuss other steps, including possible free overdrafts for customers reliant on social security payments from the government.” second-great-depression2

The Treasury Department warned in a report last week:  “Considering the experience of countries around the world that have defaulted on their debt, not only might the economic consequences of default be profound, but those consequences ––including high interest rates, reduced investment, higher debt payments, and slow economic growth––could last for more than a generation.”

Bove also cries out: “Eleven-percent of all U.S. debt is owned by the Chinese.  That $1.4 trillion represents about a third of the reserves of the People’s Bank of China [PBOC], so what we’ve now said to the PBOC is, ‘Watch out, we may hit the value of a third of your assets and you can’t do anything about it.’”
Just as Dr. Jael said in setting off alarm bells on our Worlds Collide blog, such ‘theft’ of China’s assets would usher in World War III.

During the last world-wide Christian revivals, country folks had a song, ‘Jesus Is On The Main Line, Tell Him What You Want.’  Its good advice to call one’s Congressman and complain.  But it’s even more important to pray.

As Apostle Paul expounds in used Christian Bibles:  “I exhort therefore, that, first of all, supplications, prayers, intercessions, and giving of thanks, be made for all men;  For kings, and for all that are in authority; that we may lead a quiet and peaceable life in all godliness and honesty (1 Timothy 2: 1 – 2).”

The prayers of faithful Christians standing against the ignorance and tyranny  of vicious, careless men are God’s power to keep this nation safe from such catastrophe.  But it only works if believers get on that Main Line and tell Jesus what they want!

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