Debt ceiling expired today, but U.S. holds on?

The money weasel Tim Geithner informed Congress today that the United States has now reached the debt ceiling level, but rest assured, Geithner says the country can hold until August.

How strange when you consider that for many months now, Geithner has been jumping up and down about the necessity for Congress to raise the debt level; otherwise the United States would default on its financial obligations and face severe economic consequences.

So today that deadline expired, but Geithner says we can hold on until August because thanks to Geithner. he came up with an extra $200 billion just last week to meet the country’s obligations for a temporary period of time.

Where did this money come from Mr. Treasury Secretary? Some reserve fund that you and Ben Bernanke totally forgot about? A generous donation by George Soros?

According to Geithner, the debt is now at $14.3 trillion which is the legal limit as to how much the United States can borrow. However the debt is likely to increase to $15 trillion by September.

For the interim, the Obama Administration is stopping payments to retirement plans and pension funds to federal workers. Will we see protests from union thugs like we did in Wisconsin when Governor Scott Walker decided to cut state worker funds to balance his state budget? Probably not. Because the Obama Administration, as well all know by now, is untouchable. Even though they are now theoretically doing the same thing that Governor Walker did in Wisconsin. But I digress.

But the bickering under the circus tent on Capitol Hill continues. Republicans and even some Democrats are refusing to raise the debt ceiling limit any further because it is recklessly and fiscally irresponsible and Democrats continue to demand only a status quo for supporting the same federal programs that have contributed to the downfall of the United States. They’ll only raise the debt ceiling limit if there is a compromise on reducing spending drastically since Congressman Paul Ryan’s budget plan was not exactly favorable. The reality is that taxpayers simply cannot continue to subsidize these programs any longer and the country continues to spend more than it takes in.

But the real reality is the United States is owned by global investors, not the tax payers. This in itself is a rather scary scenario. As every man and woman in America continues to struggle to put food on the table, pay a bill, look for work in an economy that will most likely never recover, or their children having to grow up in a “new America”, there is a very wealthy internationalist in China that wants either your welfare or social security check.

Ron Paul running for President in 2012

He was instrumental in grassroots campaigning in 2008 when he ran for President and was able to encourage the support of a younger group of voters that were fed up with traditional Republicans and Democrats, as well as the “fantasy change” of Barack Obama.

His philosophy has largely been inspired by our nation’s founding fathers, and uses common sense and our Constitution as “the real road map” to get his message across. He’s called for abolishing the IRS, CIA and an out of control Federal Reserve. He speaks like an average American Joe and not some typical politician that speaks like a hawk.  Now, he is joining in a group of not-so appealing Republican contenders for the 2012 Presidential race.

He is Republican Congressman Ron Paul of Texas.

Congressman Paul, who is a physician and apparently understands basic economics, better than anyone else in Washington, D.C. had ran for President even before 2008. In 1988, he ran on the Libertarian ticket, and then in 2008, despite his unprecedented massive grassroots campaign, he only garnered about 10% of the vote in the Republican primaries.

But now that we have seen a train wreck under Obama, which includes a laundry list of extending some of the policies that made Bush very unpopular, massive spending, larger government, no transparency, unemployment, high inflation and three wars in the Middle East, Congressman Paul may have a better chance at getting elected this time around.

His message resonates with a younger crowd, especially for college students who want to grow up in the same America as our parents and grandparents did. As it looks right now, that type of America is more than likely gone forever. Despite that the older generation of America and the bureaucrats in Washington D.C. want the status quo; things in this country are not the same as they used to be and they will never be the same. But Congressman Paul has carried the goal for a long time now, to restore at least the real American values and principals that have been lost.

Having grown tired of Republicans and Democrats that have been ruining the country, it seems that a larger portion of Americans have awakened to the fact that you can have a President who is not going to sell their soul to corporate America and will abide by the U.S. Constitution.

Ron Paul certainly represents these qualities and perhaps “third time’s a charm” in 2012, will get Paul elected as President of the United States.

Fed insists more time is needed for economic improvement

While the attention of most Americans had been diverted this week either because of Donald Trump taking credit for “discovering” President Obama’s birth certificate, or Prince William and Kate’s Royal Wedding in Britain, we have an incompetent Federal Reserve that is completely out of control.

The International Monetary Fund stated on Monday that China will be the world’s largest economy by 2013, surpassing the United States because of the Fed’s reckless monetary and fiscal policies.

So I guess this information prompted Federal Reserve Chairman Ben Bernanke to do something for the first time in the Fed's entire history: Hold a press conference to address our nation’s economy, inflation and how we seemingly print money out of thin air.

Of course I’m joking. Do you really think Fed Chairman Ben Bernanke would spend his time vigorously addressing any of those issues?

At least on more than one occasion this year, the Obama Administration insisted major growth of our economy. Not true. According to Ben Bernanke, anyway.

Bernanke did say that the United States economy grew by a mere 1.8% in the first three months, but has not recovered from the deep recession stemming from 2008. Additionally, the nation’s unemployment is now 8.8% from 10% it was over a year ago. However, this has been employment growth has been in the public sector, not the private sector, as the government would want you to believe.

Bernanke also indicated that housing markets are still in decline and families continue to face foreclosures nationwide.

Despite the fact that he is slightly coming clean about our continued depressed state of affairs and that our $1 trillion deficit and $14 trillion national debt is unsustainable, Bernanke still wants Americans to buy into his philosophy that everything will be fine and dandy. If anyone actually does buy into Chairman Bernanke’s thoughts on our nation’s economy, maybe they need to be drug tested. This is the same Ben Bernanke, who in 2005, mentioned that housing prices would not drop substantially, and the same Ben Bernanke, who during the sub-prime mortgage crisis, said that those housing issues would not spread into larger mortgage markets, which were believed to have been much healthier.

The man’s track record and countless lies are simply incredible. How much time does Bernanke need to improve the U.S. economy? He says there is little control over gasoline prices, but the Fed continues quantitative easing and yet the dollar continues in rapid decline.  Does any of this make sense? Has he taken economics 101?

Despite the current problems with inflation and devaluing of the dollar, the Fed had absolutely no problem on transferring more than $550 billion to central banks overseas that Americans have never even heard of.

I hope Congressman Ron Paul is able to gather enough co-sponsors so that legislation will be introduced to look into the Fed’s policies and an internal audit conducted to see what the hell has been going in this counterfeit operation. Many Americans, I'm sure will be furious. 

Congress sucks!

Don't take my word for it. Take a look at a recent Gallup poll. Only 13% of Americans actually approve of our U.S. Congress. Kind of makes you wonder what exactly is going on in the heads of that 13%.

This is the lowest approval rating in 30 years, according to the Gallup poll.

But just take a look at Congress' track record over the last several years, whether its the House or the Senate. When the Democrats took control of both houses in 2006, they complained about how pathetic and horrible President Bush was, yet the freeloading deer-trapped-in-headlights Speaker of the House Nancy Pelosi did nothing to enforce impeachment proceedings against him, even though she vowed to have "the most honest, most ethical and transparent Congress in our nation's history..."

How did that work out for you Madam Speaker? Virtually no transparency has existed.

This is the same Congress that did nothing in preventing the financial collapse of 2008. Many of the problems with financial and insurance institutions on Wall Street, the failure of the Securities and Exchange Commission to regulate and government sponsored lending entities including Fannie Mae and Freddie Mac which were sinking into bankruptcy, were all under the watch of Congressman Barney Frank and Senator Chris Dodd.

This is also the same Congress that has for the most part been entirely ignoring the American people for the better part of two years, for the fact that they've been playing rubber stamps of President Obama's radical agenda. Some of the critical issues this last year included Arizona's new immigration law. Congress publicly criticized it, favored Mexican President Felipe Calderon's opposition of our laws and allowed Attorney General Eric Holder to sue Arizona, even though many of the leading polls showed that between 60% and 70% of Americans were supporting Arizona's law. Another critical issue involved Americans largely opposing the Health Care Law, yet Congress went ahead with it and jammed it down everyone's throat, without even looking at all of the major provisions.

Just like what Congressman John Conyers admitted. "We don't read the bills, it would take up too much time and delay the process..."

In another point of drama this year, Senator Lindsay Graham says we should invade Iran and overthrow that country's entire government. Yet while he has a point with relation to the dangers Iran could pose to the U.S. and Israel in particular, is that something we need at this very moment? I'm not questioning Iran's nuclear ambitions that it has to whip Israel off the face of the Earth, or that it has developed a relationship with Venezuela and North Korea, but Senator Graham seems to be oblivious to the fact that China has nuclear weapons, so does Pakistan and India. Hell, we have enough nuclear weapons to blow up the entire world!

My point being, the U.S. has enough problems right at home. A $14 trillion national debt, about $115 trillion in unfunded federal financial obligations, unemployment just a point under 10%, jobs being outsourced, people loosing their homes and a Federal Reserve that prints money out of thin air. Congress sits up on Capitol Hill and twiddles their thumbs on the DREAM Act, Don't Ask, Don't Tell and the Bush Tax Cuts, yet its time to get to the core of our problems.

A clown like Iranian President Mahmoud Ahmadinejad can wait.

It just goes to show how incompetent and unrepresentable our Congress has been over the last several years. No wonder why its fallen to an all time low. Some have even argued that if the approval rating of Congress even matters?

Well it should if they're the ones we're paying to represent us. Oh, I forgot, they don't represent us, they're owned by the global elites, major corporations and special interest groups.

Ron Paul to Chair Monetary Policy Subcommittee

Republican/Libertarian Texas Congressman and former Presidential Candidate Ron Paul, one of very (and I mean VERY) few people in our Federal Government that actually supports the Constitution and individual freedom, will become Chairman of the Subcommittee on Domestic Monetary Policy when the new Congress takes control in January.

This means that he will have more power to issue subpoenas on the Federal Reserve, including an audit of the entire organization, which by the way is something that has never been done since it was established in 1913, nearly 100 years ago.

While the new Chairman Paul will need formal approval of both the Chairman of the Financial Services Committee and the newly elected Speaker of the House John Boehner to issue such subpoenas, once they are approved, the American people will finally know the truth as to what the hell has been going in the Federal Reserve System, their monetary and fiscal policies domestically and its relationships with central banks and bailouts to Wall Street firms.

Congressman Paul has been getting support on introducing the audit from even Democrats in the House, including Congressman Allan Greyson of Florida and Congressman Dennis Kucinich of Ohio.

Now Federal Reserve Chairman Ben Bernanke and the Weasel Secretary of the Treasury Tim Geithner say any audit of the Fed would be a bad idea, yet they both have not offered any formal explanation as to why it would be a bad idea.

Are they protecting the globalists? Probably.

Do they not want the American people to know how our monetary and fiscal policies have been handled? Definitely.

Earlier this month, the Federal Reserve was forced to finally release documents involving the bailouts of some of the financial institutions, something that Congressman Paul has been pushing for quite some time. The information is breathtaking. Goldman Sachs took out $18 billion in credit from the Federal Reserve over the course of 84 times, Deutsche Bank of Germany sold the Fed over $290 billion in mortgage securities, while Credit Suisse of Switzerland sold $280 billion, and also provided assistance to firms including Bear Stearns and American International Group.

That is just the tip of the iceberg.

I'd suspect that if the subpoenas are approved, and I hope and pray that they are, and an investigation is completed into the Federal Reserve's operations, there will be more of an uprising of many angry Americans.

Definition of U.S. Treasury Secretary: a Weasel

The Treasury Secretary Tim Geithner is supposed to an experienced economist that has the fiduciary duty and responsibility to oversee the U.S. Treasury. Yet when economists and financial and hedge fund managers of major banking and investment groups and corporations continue to discuss the notion of the U.S. dollar weakening, Secretary Geithner continues to say this is not the case, yet he never seems to offer any evidence to support his defense.

Alan Greenspan, the former Federal Reserve Chairman, earlier this week claimed “the United States is deliberately weakening the dollar”, challenging Geithner’s responsibility over the Federal Reserve and how it establishes monetary and fiscal policy with relation to currency supply and interest rates. Geithner’s response was that “the U.S. will never do that. We will never seek to weaken our currency as a tool to gain competitive advantage to grow our economy”.

Of course not.

Geithner would simply like every one else in the world to manipulate their own currency, most notably China, which has a reputation for doing so, to solve our monetary problems. At the same time, China does not want to devalue its currency, because it would mean exporting jobs from China, back into the United States. China, which for the most part, owns the United States’ $14 trillion and growing national debt, is really focused on what the Federal Reserve’s inability to control its monetary supply without leading to further inflation, and now critics are actually thinking it might become a deflation of the U.S. dollar.

Yet, in nearly every Congressional testimony that Secretary Geithner has given, he says that the economy is growing within the private sector, despite the unemployment remaining about 9% and most likely projected to remain the same into 2011. He also made a push earlier this week to print $600 billion dollar out of nowhere, which already has foreign critics (again China) up in arms about our federal policies, which was cited by some members of Congress and economists as being another bad decision.

One has to question the motives behind printing all of this currency. The idea for doing so seems to improve the U.S. economy, but has deemed unworkable thus far. Is Secretary Geithner just doing so to make the economy look good, without any notion of thought in regards to inflation? What message are we sending to our foreign lenders over seas? Can the U.S. even continue as a place to do business in the coming years?

I will be the first to admit that I am not an economist by any means, but it does not take rocket science to figure out that Secretary Geithner is clearly continuing to act as a puppet for this Administration, standing around acting as if everything is fine and dandy. This is the same Treasury Secretary who dodged paying taxes and was President of the Federal Reserve Bank in New York during the last few years of the Bush Administration. He has the understanding of the Federal Reserve’s policy, and had full knowledge of the impending problems during the financial crisis, and played a role in bailing out AIG.

Now when you hear him testify before Congress, he acts as though he doesn’t even know what happened during that period and incites wrath in everyone else for his contributing audacity. It is quite incompetent.

I would recommend that someone make an amendment to the definition of what the Treasury Secretary is supposed to be. As far as I’m concerned, its description is... a weasel.

United States will not garner support from G-20 to push China’s currency value

The finance ministers from the 20 major economies refused to back the United States’ push in China boosting its currency value today. The reason why the United States is doing this mainly due to the concerns over escalating disputes with China (the main lender for the U.S., by the way) and their ability to have cheap labor and exports, which the United States says is costing American jobs.

President Obama is calling this a disappointing turn of events after the leaders of the G-20 decided to not devalue their currency. Obama wanted the opposite to occur, which was a more competitive undervaluation, which would have influenced the leaders of G-20 to push China’s currency value. Furthermore, the United States fears that nations such as China, who are protective of their own currency policies and trade barriers, will send a shockwave through the global economy and put it back into a recession.

It seems as though President Obama still lives in a fantasy world of looking to every other leader to put together a plan to solve the United States’ financial woes. Why should China, which owns the United States' national debt, be forced to loosen its own currency value to help the United States? China didn't cause the economic problems in the United States, it was the poor decisions made by President Bush and the idiotic Democratic leadership of Congress, most notably individuals like Barney Frank and Chris Dodd.

China, most likely is laughing hysterically at the United States, after the Obama Administration and the weasel that is Tim Geithner, choose to solve our trillions of dollars in debt.... by adding more trillions of dollars in debt. Insane. 

Obviously, the President has been completely oblivious to the Federal Reserve’s inability to stabilize the currency supply and interest rates, and continuing on the path that leads to further inflation. Now the United States admits it was undermined by the central bank's decision to print $600 billion in an apparent effort to keep the economy afloat, while at the same time the currency value diminishes.

Since the President will do nothing to solve the real problems crippling the United States such as the creation of real private sector jobs, reforming pension/union funds in government programs, cost of illegal aliens and maybe telling those puppet master internationalists like George Soros (who buys individuals within the government to create an agenda) to go take a walk, the President is really at a breaking point were there are very few options to choose from when it comes to our monetary and fiscal issues.

He’s not going to solve the real problems, and he is now finding out that when it comes to the United States’ monetary and fiscal policies, leaders in other countries, including those at the G-20 summit are not going to help our nation. They’ve really done all that they can since the financial collapse in 2008, and it is time for the United States to solve its own problems internally, even if it means for this President to finally stand up and say “no” to the people that are influencing him to make decisions which are deemed irresponsible.

Obama supports China's criticism of the United States' monetary policies

President Obama today stopped over in Jakarta, Indonesia, as part of his hopping all over South East Asia this week, to discuss monetary policy and growth at a summit for the G20 Finance Ministers, in which Indonesia is a member of.

What a surprise, since G20 has close relations with the European Union, and endorsing a world currency, which Obama endorses. According to Reuters, the President said at this summit with Indonesian President Susilo Yudhoyono:

"We have a lot of work  to do and one of the key steps is putting in place additional tools to encourage balanced and sustainable growth".

What exactly are these additional tools to encourage balanced and sustainable growth? Why in the hell is the President encourages the G20 System, when he cannot even get the Federal Reserve to control its own fiscal and monetary policies regarding taxation, monetary supply and interest rates, since he was elected into office?

In relation to that, China actually criticized the United States exactly for the things I just mentioned above, as they fear the more ignorant the United States is with relation to our monetary and fiscal policies, it would be more instrumental in becoming destructive to the global economy and leading to further inflation.

You would think that the President would take note of some of the advanced warnings laid out by China, and that the President would find a new ass to kick, maybe Federal Reserve Chairman Ben Bernanke or that sycophantic little yes weasel Tim Geithner. But instead, President Obama chooses to find an ass to kiss. He decides to support China's criticism of the United States.

"We want China to succeed and prosper, its good for the United States if China continues on that path of development that it is on"

Seriously, does President Obama realize that the $14 trillion national debt, which continues to grow at an accelerated basis, is mainly owned by China? Does the President also realize that my generation and all future generations are liable for this debt created by both he and former President Bush? Did President Obama ever take into consideration at the height of the financial meltdown in 2008 that it was wrong to endorse government intervention into the financial sector? Did the President think that adding trillions more in debt was the logical way to solve the problem of our already growing national debt crisis?

To sit over there in Jakarta, Indonesia and say he wants China to prosper is pretty disturbing. With no disrespect to China, this President has to be somewhat informative that China's commodities are greater than the United States, they've basically defeated us in every single regard, the major manufacturing and industrial factories have all been based out of China primarily because they have forced labor there and they have a grasp control of their own financial system. If you look at comparison with relation to jobs, competition in the business sector, educational system and our own government's financial stability, we're far below with relation to where China stands.

What really frustrated me recently in California involved this notion of 'creating green jobs' in California, which President Obama endorses. Here, the solar power manufacturing company Solyndra, recently closed one of its factories in an effort to save $60 million in annual expenses, laid off 40 full time employees and terminated contracts to 100 temporary workers. It should be noted that Solyndra received more than $530 million as part of a federal loan guarantee program and more than $1 billion in equity.

You may ask why Solyndra for example, is cutting back its operations and laying off its workers? It is because Solyndra and California, along with the rest of the United States, cannot keep up with the competition of manufacturing firms in China, who can do the same amount of work and defeat the cost of doing it in the United States.

While the President just looks at the positive of China's criticism of our monetary policies, maybe he should start getting serious for once in his tenure to do something to focus on creating real jobs within the United States, and working on a solution to control how the Federal Reserve is handling our monetary supply and how it effects the economy, both within the United States and globally.

I'm sure China has to be especially interested in the United States' future in the creation of jobs and our monetary and fiscal policies... because they expect to be repaid for bailing us out.