The United States Treaury possesses $ 204, 800, 000, 000.00 worth of GOLD (at current prices).

That's about $ 200 Billion Dollars to those of you who are decimal point challenged.

That's only 1/4 of the Bank Bailout Package ($ 700 Billion).

It's only 1/5 of our current National Budget DEFICIT (about $ 1 Trillion). (the amount of money we need to borrow from overseas nations EVERY YEAR to fund our deficits).

WHEN inflation skyrockets next year AND IT WILL the Chinese/Japanse/Europeans and others who buy our national debt will DEMAND to be paid off in GOLD, Silver, Petroleum, property and other precious assets.

If we refuse to pay them off in hard assets such as these, they will refuse to lend us any more money.

Everything we own as a nation in hard assets-all the GOLD , Silver, property, precious stones, Oil, Natural Gas-EVERYTHING our nation owns would be depleted in ONE YEAR at our current Deficits.

That's it, one year. After that, we have nothing left to give away. NADA.

Are you worried now?? You better be. Because when they stop lending us money our economy will crash like the WTC on 9/11!

What does a nation provide as collateral for loans and interest on past loans when it's money is not accepted anymore?

The US owns property like national parks, government buildings, overseas embassy's, etc.. We could give this property away to our creditors.

There is $ 200 Billion in GOLD locked up in national repositories in Fort Knox and other places. We could give ths away to our creditors.

We have federally owned Petroleum reserves, natural gas reserves and coal reserves. Put them on the chopping block and give the cash to our creditors.

We have LOTS of unused military equipment. Sell it and use the cash to pay off our creditors.

Of course, the US can raise taxes on all of us citizens AND IT WILL. They'll soak us for every Dollar they can get their hands on in taxes, fees, tolls, you name it. Lower the deficit and maybe China and Japan will accept a few more Dollars?

But, what happens when you do all the above-sell off ALL the hard assets the US owns-and it only pays the interest on our national debt FOR ONE YEAR? What do you do the next year????????

That's the answer President Elect Obama and his Administration will have to come up with in about a month. You still think he's happy he won the election?

I must have scared everyone with the question.

I'm particularly interested in input from all those who supported the unnecessary (IMO) war in Iraq.

There are estimations that the final cost for that war will be in the $ Trillions-all added to our national debt.

Those of you who supported the "Spend today, worry about paying it back tomorrow!" philosophy, what's your input to the question? I'll state it once again:

But, what happens when you do all the above-sell off ALL the hard assets the US owns-and it only pays the interest on our national debt FOR ONE YEAR? What do you do the next year????????

They're counting on deflation, I'm convinced.

Deflation is good for about 6 months. One year at the absolute most. Then the chit hits the fan.

Quote:I'm particularly interested in input from all those who supported the unnecessary (IMO) war in Iraq.

Qaeda's Zawahri says U.S. wars behind financial crisis
Fri Nov 28, 2008 8:51am EST

7:50am ESTDUBAI (Reuters) - Al Qaeda's second-in-command said in an Internet video the U.S. financial crisis was caused by Washington's military campaigns in Iraq and Afghanistan and taxpayers were paying the price.

"This crisis is one of ... the series of American economic hemorrhages after the strikes of September 11... And these ... will continue as long as the foolish American policy of wading in Muslim blood continues," Ayman al-Zawahri said on the video, posted on Islamist websites on Friday.

"The ones shouldering the burden are taxpayers, whose money was spent to rescue senior capitalists and to protect the fraudulent interest-based system from collapse," Zawahri said.

As they predicted and like we earlier discussed.....