No Pericles, I am always very skeptical of any conspiracy theories
but this time Arjay has brought up a real threat.
The US has really big debts yet the Republicans are refusing any tax
increases and in fact insisting on reductions.
The Democrats know what is needed but cannot summon the courage to do it.
On January the first the US Government runs out of money. This has
happened previously, but this time they have no credit to borrow against.
They will, if the two parties cannot come to an agreement to print a
lot more money, default on their borrowings.
They will stop paying the military and public servants and government
departments will close.
As mad as this sounds, it happened in 1998 when I was there on a
brief visit. Pensions we were not being paid, public servants were
sent home and one of those I met had no information on when he was to
go back to work.

Have you forgotten the panic last year when they almost defaulted
but they came to a patch up to keep going to Dec 31st 2012.

We may be getting somewhere at last, Arjay.

>>No the derivative market is not part of the world's GDP.It is monopoly money.It is a big casino parasite that destroys real productivity.<<

So, you believe that the derivative market is external to the world's GDP. Ok. But how, then it can have any impact at all on the world's economy?

Just one example will do.

"Monopoly money", as I recall from my childhood, was put back in the box at the end of the game, and never had the slightest impact on my flow of pocket money. Is this a good analogy?

>>It is a big casino parasite that destroys real productivity.<<

In what way does it destroy productivity, Arjay? If you believe that it sits outside the world's GDP, how can it possibly have any effect on productivity, one way or the other?

It is quite possible that working through these questions in an honest and ideology-free manner will finally set you on the road to understanding a little about how finance and commerce actually work.

Possible. But I fear unlikely.

Almost certainly, you will avoid it once again.

Your loss.

Don't get sucked in, Bazz. You're better than that.

>>No Pericles, I am always very skeptical of any conspiracy theories
but this time Arjay has brought up a real threat.<<

Not at all. None of Arjay's "threats" actually materializes. Ever. I recently asked him to point to even one. Silence.

But, to your issue.

>>On January the first the US Government runs out of money. This has
happened previously, but this time they have no credit to borrow against<<

You are mixing up two separate issues.

The "run out of money" deadline is in fact September 30th. Like last year's brinkmanship, the likely outcome is another quick-fix "patch" that will involve some more money being printed. Enough to get past the November election, anyway.

The December 31st date you refer to is when the "fiscal cliff" begins; if legislation isn't passed before then, the across-the-board tax cuts that are presently in place will disappear. Then, on January 2nd, automatic spending cuts come into play. The net effect of which will be (theoretically) to increase the tax take, and reduce expenditure - superficially "good things", in the scheme of things.

But the consensus is that if this comes into being, the USA will tip over into another phase of the recession.

It may be difficult to get one's head around. But right now, extracting more taxes and tightening up on public spending are not the answer.

Have a great day.

You are clutching at straws Pericles.The awareness continues to grow and Bazz like others are beginning to realise that these Oligarchs who control our supply of money have one thing in mind,ie more and for them and less of everyone else.Bazz now realises how toxic these derivatatives are.

http://www.veteranstoday.com/2012/08/12/foreign-cash-disqualifies-romney-from-presidential-bid/ If Gordon Duff is right,then Mitt Romney will be disqualified from running for president.How can his advisors be so stupid? Perhaps Romney was set up for failure so General Petraeus could lead the charge to war against Iran.

A war against Iran will be a disaster for us all with the exception of the Oligarchs who own oil shares,arms shares and control us via debt.

It is sad that you once again refuse to see what is plain, simple and obvious, and instead choose to believe anyone with a tawdry conspiracy to peddle, Arjay.

And instructive too, that you didn't even attempt any of the simple questions I put to you.

I think you are beginning to get the message, but are just too stubborn to accept it.

Your choice. But I think it is a poor one.

Pericles you are using the money supply issue in the USA as a distraction.The US Fed under a partial audit was found to create and additional $16 trillion in off balanance sheet transactions for its mates to bail them out. Prior that it created $15 trillion from nothing and added that to the debt of the US people.The Fed is just a counterfeiter of the $ US."Quantitative Easing" is theft by the elites that puts the US people into more debt.

Creating money from nothing is depreciating the $ US and stealing from the people.They then have the audacity ot create it as debt.

We've been through this reality many times before that you choose to ignore and mostly these days I bother not even reading most of your distorted ramblings.