Senate Majority Leader Harry Reid (D-Nev.): In 2006 Harry ‘Histrionics’ Reid Voted AGAINST Raising The Federal Debt Ceiling. When They Took Majority In 2006, Of Course He Changed His Mind, In Order To Centralize/Subjugate The United States To The London Banking Cartel aka; British Empire. This afforded The Democrats An Opportunity Of A Life Time. A Veil Of An Insider Trading Scheme For Themselves To Invest Against The United States And To Assure Its Failure By Congress. This Was The Modus Of The British Empire Since 1776. Why Fight City Hall aka; The British Empire And All Their Operatives Throughout The U.S.
In an interview on NBC’s “Meet the Press,” Reid said failing to increase the $14.3 trillion debt limit, which the administration has warned will be reached sometime this spring, is not an option.
“We can’t back out on the money we owe the rest of the world,” he said. “We can’t do as the Gingrich crowd did a few years ago, close the government.”
Vodpod videos no longer available.
George Soros is having a very good crisis.
Felon George Soros Made $11.6 Billion in 2008 trading against the orchestrated financial crisis ~ illegal insider trading.
“It is, in a way, the culminating point of my life’s work,” the 80-year-old felon says in his heavy Hungarian accent during an interview at his London mansion.
The crisis began when the “housing super-bubble” took form after the Clinton Administration repealed Glass-Steagall on November 12, 1999, This allowed Wall Street to invest increasing amounts of money in credit which ended up as aka; (Untraceable Worthless Paper Derivative Debt Contracts). This is what America has bailed out and why America has been subjugated for the next coming generations to repay. We are repaying Wall Street’s Scheme Of Making Money By Fraudulent Worthless Paper Contracts. They Hold More Debt Paper, Then There Are Real Tangible Assets In The World.
AIG, the largest insurance company in the world has been bailed out bytaxpayersthree times. Although it was “too big to fail,” it failed. GeneralMotors, also “too big to fail,” went intobankruptcy. The great Merrill Lynchbrokeragewent belly up, but was saved by thetaxpayersand given to Bank of America by the Bush administration. In turn, Bank of America had to be bailed out bytaxpayers. Citibank has been bailed out more than once, as have other banks that were “too big to fail.”
The Soviet Union is gone. In the 1960s and 1970s, the CIA reported that this massive nation that covered almost one-third of the land area of the world was just “too big to fail.” Presidents were told by our security agencies that America would face this daunting enemy for generations. By the 1990s the Soviet Union was in the trash heap of history. A nation “too big to fail” had failed, and had broken apart into numerous smallerstatesthat began battling each other.
History is full of nations and empires that were “too big to fail.” The Roman Empire is gone; the Holy Roman Empire is gone; the Byzantine Empire is gone. The great British Empire on which “the sun never set” is now a tiny Island in nearbankruptcy.
But don’t worry: The UnitedStatesis “too big to fail.”
The UnitedStatesno longer has a real manufacturing base, and almost 90 percent of the economy is based on consumption, mostly of imported goods. But don’t worry, our leaders say that the American consumer society is so big it can’t fail. The leadership believes that the Chinese and the Saudi royals will continue to loan us money to consume because our nation and our economy are just “too big to fail.” Congress and the president believe that the leaders of rich nations understand they must bail out America from time to time, sort of the way Americantaxpayershad to bail out AIG, GM, Merrill Lynch, Bank of America, Citibank and others.
Denial is not a river in Egypt. Denial is the state in which the American people and the American leadership live. The trillions of dollars the Bush and Obama administrations have spent to “stimulate” the economy have to be paid back from the futureincomeoftaxpayers. Translation: Our children and grandchildren are yoked to a huge debt they cannot possibly repay. Far from being too big to fail, the UnitedStateshas become too big to survive.
The American problem is not just debt, it is the sheer size of the government. The federal government is so involved in so many of the aspects of the everyday life of Americans that it simply cannot keep track of its own activities, or of how much is spent or even how it is actually spent.
I was present in the Soviet Union for the coup and for the Great Collapse. Soviet communism failed because of the size of government. As a nation the Soviet Union simply could not afford to pay all of the accumulated debt, pensions and health care, and also spy on all dissidents and field an army. Despite being an oil rich nation, the Soviet Union collapsed because of central planning and the inability to pay its obligations. Rather than being too big to fail, it was so big it had to fail.
Having witnessed the Soviet failure firsthand, the parallels with the current path of the UnitedStatesare all too clear. The more the federal government does, the greater its role in our lives, the greater its debt, the higher the taxes, the greater the central planning – the closer we are to failure as a nation-state.
Fortunately the people of the UntiedStateshave a safety net in the individualstates. Once our “too big to fail” federal government defaults and fails, the variousstateswill still remain functioning democratic entities. Thestateswill be able to provide the core services needed by the people, including law enforcement and education. When will this happen? Soon enough that state governments should be planning now for the possibility.