Obama on Credit

At some point in the game, there will be another adjustment, as in 2008, there is no getting away form it.  The USA Fed "shutdown theatre" will have nothing to do with it, but we'll be treated to blaming ad nauseum.

In the midst of this was a gaffe by President Obama.  A gaffe is when a politician accidently speaks the truth.

See here:

Obama told a news conference that the United States has a lot of debt obligations beyond paying its Treasury bond holders and that the government's failure to pay other bills would also hurt U.S. creditworthiness.

Now, the "credit" in creditworthiness is sheer fiat-based, meaning there are no assets backing the credit. The next aspect is how con artists work: the "con" in con artist is short for confidence artist, which almost everyone knows, but few realize the "confidence" the con artist installs is in the mark, not the con artist.  When YOU believe it will work the con artist can scam you.  (This is also critical for when you get ripped off, you tend to keep your mouth shut, for feeling so stupid.)

So the game is that the victims (investors and beneficiaries in USA creditworthiness) at some point will realize they've been had, and then it comes tumbling down.  There will be many 2008s, in which there is a short rush for the doors, but only one Rome, 476.    There were plenty of 2008s between 190AD and 476AD, so to speak.

Nobody knows when the end will come, when enough people say "i don't believe it."  Right now plenty of people say "It is tradable.."  meaning they think the system is rotten, but there is still money to be made trading, knowing it is perverse and rotten.

We could restore peace and prosperity by deregulating banking, and treat interest payments the way we do gambling debts in law, and that is they are unenforceable contracts.  I know, I know... it is never going to happen.  But if you wrap your brain around that reality, then you can live an authentic life as the regime crumbles around you.

The people who will be the most bitterly disappointed in all of this are the preppers, who organize their lives around 'the end', only to find it never comes.  Prepping gets so boring so fast.  

The powers that be have no idea when the end will come either.  But just to be sure, in these unsure times, the powers that be keep appointing Jews to the post of Fed Chairman.  After having Arthur Burns take USA off the gold standard (lite) all Fed Chairmen have been Jews, just in case (except for G. William Miller <Carter again!>, who tried to do the "right" thing and was canned).  When this goes bad, and it will, the powers that be will escape blame by doing what they always do, blame the Jews.

Keep your mind on how your confidence in the system is the problem, not the powers that be who offer you an internal contradiction upon which to place your hopes: fiat currency usury.

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