US Could Run Out Of Cash In Late December, CBO Warns

[Gary K]

If this happens, and it looks possible as both parties have dug in politically, look for all hell to break out on the tyranny front. I think it's possible I have received my last SS check, and that our financial system will collapse. It may not, but it very well could. The Fed, and Biden, wants to move to a completely cashless financial system and this could be the excuse to do it.

ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[Red Wave Rising]

Cash? What does that mean? We are 40 Trilli0on in debt. We ran out of money 30 years ago.

 

[Gary K]

Cash? What do that mean? We are 40 Trilli0on in debt. We ran out of money 30 years ago.

You think I don't understand the Fed and government haven't combined to ruin us? This is very possibly the point where no one can kick the can down the road again. This means either a depression like no one has ever seen before, or it means government/Fed control of every penny that everyone has. That gives government powers that are far beyond anything we can imagine for he who has the gold makes the rules. Literally.

 

[ok doser]

The Mexican cartels have it all

 

[Red Wave Rising]

You think I don't understand the Fed and government haven't combined to ruin us? This is very possibly the point where no one can kick the can down the road again. This means either a depression like no one has ever seen before, or it means government/Fed control of every penny that everyone has. That gives government powers that are far beyond anything we can imagine for he who has the gold makes the rules. Literally.

Well, I have been screaming about it for ten years, that the debt will eventually crush us. My guess is that it would happen when the annual interest payment on the debt consumes the entire budget. That is armageddon. We are not nearly there yet, but it is still a pretty large amount.


"This year, the federal government will spend $300 billion on interest payments on the national debt. This is the equivalent of nearly 9 percent of all federal revenue collection and over $2,400 per household.10 Mar 2021

How High Are Federal Interest Payments? | Committee​

The Mexican cartels have it all

Shoot. They have peanuts compared to what we owe

 

[Gary K]

Well, I have been screaming about it for ten years, that the debt will eventually crush us. My guess is that it would happen when the annual interest payment on the debt consumes to entire budget. That is armageddon. We are not nearly there yet, but it is still a pretty large amount.


"This year, the federal government will spend $300 billion on interest payments on the national debt. This is the equivalent of nearly 9 percent of all federal revenue collection and over $2,400 per household.10 Mar 2021

How High Are Federal Interest Payments? | Committee​

Shoot. They have peanuts compared to what we owe

Just what is it that you think our total debt is?

 

[marke]

If this happens, and it looks possible as both parties have dug in politically, look for all hell to break out on the tyranny front. I think it's possible I have received my last SS check, and that our financial system will collapse. It may not, but it very well could. The Fed, and Biden, wants to move to a completely cashless financial system and this could be the excuse to do it.

ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

Was this fact brought up in the democrats' unilateral push to spend $6 trillion dollars this year on democrat pork?

 

[marke]

Just what is it that you think our total debt is?

Some estimate the total real US debt could to $200 trillion, counting unfunded liabilities not generally included in the common national debt figures. Unfunded liabilities include retirement and pension funds payable to government employees after they retire. Those obligations are likely in the tens of trillions of dollars and if the US reaches the point it can no longer pay those retirees then the US will find itself in a big mess they cannot fake their way out of.

 

[Gary K]

Some estimate the total real US debt could to $200 trillion, counting unfunded liabilities not generally included in the common national debt figures. Unfunded liabilities include retirement and pension funds payable to government employees after they retire. Those obligations are likely in the tens of trillions of dollars and if the US reaches the point it can no longer pay those retirees then the US will find itself in a big mess they cannot fake their way out of.

In addition to the unfunded liabilities there is another $100+ trillion in missing money, plus the fact that the government gave itself the permission to lie about spending and revenue to we the people. The publicly published financial reports are a black box and have been since the Kavanaugh hearings because while everyone was focused on that the Republicans, Democrats, and Trump got together and passed an accounting rule change that made government spending a "national security" issue and thus nothing publshed in those areas has been trustworthy since then.

 

[Red Wave Rising]

Just what is it that you think our total debt is?

I forget. Around 40 trillion now after Biden's spending plan?

 

[Gary K]

I forget. Around 40 trillion now after Biden's spending plan?

Nope. That is only a small part of US indebtedness. It fails to account for unfunded liabilities which when I looked at them in depth during Obama's reign was at least $120 trillion. That number has skyrocketed since then due to all the social program spending during Obama's admin.

Then you're not accounting for the missing money that Catherine Austin-Fitts first discovered. She found $10 trillion in untrackable "adjustments" in government finances. Dr. Mark Skidmore set out to prove she was wrong because as an expert in public finance he "knew" she had to be wrong. He found an additional $11 trillion in missing money from only two departments of government. The rest of the government omitted any evidence in their accounting by having only incomplete records published.

Skidmore went on to find what he estimates to be $90-$120 trillion more by examining government refinancing of debt when they have to roll over their debt from one financial year to the next. Our government has been a criminal enterprise since the Clinton admin as this was when all this theft of government funds began.

 

[Red Wave Rising]

You are saying $90-$120 trillion in only federal spending debt? Nothing to do with personal debt or anything?

If this is so easy to see why don't we hear about it on good news channels?

 

[Gary K]

You are saying $90-$120 trillion in only federal spending debt? Nothing to do with personal debt or anything?

If this is so easy to see why don't we hear about it on good news channels?

No. I'm saying total government indebtedness of well over $250 trillion plus published debt.

When we add in private and corporate debt in repackaged debt we are looking at numbers as high as the quadrillions.

 

[Gary K]

No. I'm saying total government indebtedness of well over $250 trillion plus published debt.

When we add in private and corporate debt in repackaged debt we are looking at numbers as high as the quadrillions.

Another word for repackaged debt is derivatives.

 

[Red Wave Rising]

No. I'm saying total government indebtedness of well over $250 trillion plus published debt.

I find that number hard to believe.