In August of 2011 a secret plan was drawn up between the Fed and the Treasury which was meant to be kept secret for five years. The five years was up recently and the plan is now being partially revealed. It suggests that our government recognizes that a day of financial judgment is coming.
Basically, the plan is to selectively pay bond holders less than full redemption value if, and when, the Debt Ceiling is not renewed or not allowed to increase. The article says “holders of U.S. debt and recipients of Social Security, veterans, and other entitlements would be paid first with everyone else getting delays in payments or merely partial payments”.
It now appears that our Treasury Secretary, Steve Mnuchin, can fund the government with various gimmicks until late September or early October, 2017. Various Republican congressmen will push the issue of not increasing this ceiling so that they can gain influence to push new gimmicks upon the American people (so an article in The Sunday Arizona Star titled “Obama-era plan on standby for possible default” claims)…until the system collapses.
What all this reveals is that our elites in government recognize that a day of financial judgment is coming, and my sense is that this day of financial judgment could/might be this fall. I, personally, don’t think that any further delay will be allowed…
The American people now recognize that debt, deficits, and gimmicks must cease. This awareness is now mostly everywhere thanks to the internet…[and] websites like http://www.usdebtclock.org. To comprehend the problem Americans merely need to study the numbers and ask themselves a few pointed questions.
- Can this debt be repaid? How?
- Can the debt be reduced to manageable levels? How?
- Can this process of increasing debt be postponed indefinitely? How?
- Is it now time to pay the piper and accept the realities that America must restructure its house of finance? Basically, is Judgment Day here?
Watch what emerges in the coming months and ask yourself if the DAY OF FINANCIAL JUDGMENT is here! I am.
The comments above are edited ([ ]) and abridged (…) excerpts from the original article by Donald Swenson
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