US will not Default / It will just loose its Credit Card

US will not Default / It will just loose its Credit Card

On October 17th the US will not default if the debt ceiling is not raised. It will just officially loose its credit card. It will finally, and for good reason, loose its ability to spend more than it brings in...

Of course the Federal Reserve would continue to issue credit cards to the US government because they get even more interest off of money which never existed in the first place.

The spend now and hope to pay later attitude much stop immediately.

The debt is false debt. The notes (debt) which are printed never existed in the system to begin with. The US government could do the right thing for the American people and vote tomorrow to start issuing its own legal currency per the Constitution. That is what they should be voting for. BTW voting for that would make them all heroes despite their antics.

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Last Edited by AmericanShareholder on 10/09/2013 03:10 PM