Thursday, January 6, 2011

If the US Dollar is replaced as THE WORLDS CURRENCY RESERVE the only thing to save the US from complete disaster is DRILL BABY DRILL!

I think this is the most IMPORTANT and unnerving post I have ever written. I wish everything in it was wrong. But I would rather deal with reality than make-believe and I think that my readers feel the same way. THIS IS A MUST READ!

When the world banking system collapsed in 2008 the bad debts were absorbed by the world’s governments, at least those governments big enough to pay the cost, i.e. the US among others. When Fannie Mae (FNMA) and Freddie Mac (FHLMC) became insolvent in 2008 (a huge part of the world’s banking problems) the US government stepped in and bailed them out. Since then both of these organizations have continued to record billions upon billions of losses costing the US government an “un-specified” trillions and trillions of debt! And this debt continues to add up EVERY SINGLE DAY!

According to the National Inflation Association: “Even if all US citizens were taxed 100% of their income it still would not be enough to balance the federal budget. We’d still have to borrow money just to maintain the status quo’”

The new “Conservative” members of congress claim that they want to end the status quo and cut the size of government and limit spending according to a balanced budget. I think that it would be wonderful if they succeeded! However, the reality is that there are more sinister things happening around the world that are in motion that threaten are total and complete way of American life and simply cutting the federal coffers and reducing the size of government won’t be enough!

If you've Never FAILED you've never lived.

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