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In a conversation with CNN, Bank of America CEO Brian Moynihan says the company is preparing for possible US sovereign debt default. The financial institution is the second largest bank in the country and is reportedly preparing for the worst regarding Congressional conflict over the nation’s debt ceiling.
Moynihan spoke about the Congressional debate, and specifically how that impacts corporate America. Subsequently, defaulting on the country’s debt remains a very real possibility that entities, like Bank of America, cannot disregard.
In the first few months of the new year, the National debt has reached unprecedented levels. Thus, that development has led to debates on both sides of the political aisle on whether or not the national debt ceiling should be increased before the summer months.
“We have to be prepared for that, not only in this country but in other countries around the world,” Moynihan told CNN. Additionally stating, “You hope it doesn’t happen, but hope is not a strategy - so you prepare for it.”
There is some expectation that President Joe Biden could address the debt ceiling debate during Tuesday’s State of the Union Address. Conversely, US Treasury Secretary Janet Yellen has already expressed a warning over the nation’s debt crisis. Noting the possible default as soon as June, if the ceiling is not raised.
The US government has so over-spent, for so many years, it does not have enough cash on hand to pay its debts AND fund ongoing operations. If the debt ceiling is not raised by Congress, then the government would only have the cash on hand which comes in each month from things like Payroll taxes. That __may__ be enough to keeps some parts of the government operating, but it would not be enough to pay off debt - or even interest on the debt.
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We all know the central banks are bankrupt. Whether it collapses on its own. Or, is strategically collapsed by the banks when they feel the time is right, is irrelevant. It's about to die.
https://guardianlv.com/2014/01/money-in-the-bank-no-longer-belongs-to-you/
"Tell My people I Am going to destroy them, for they have refused to obey Me. I have given My country into the hands of a wicked administration so that My people may be destroyed through wicked edicts. Already they are destroying the oil industry and through that you will not have the ability to go anywhere to save yourselves. They will hunt you down like wild rabbits and incarcerate you in prison camps because you have refused to obey Me, the Living God. I have told you to go into all the world to preach the Gospel, but so far you have refused. So I will round you up like caged rabbits where they will execute you until I have caused you to be eliminated from the land. The Living God has spoken."
start fresh with the dollar all will be good screw the banks
Anybody and everybody who accepted the Social Security
contract has signed themselves up to become a “share holder”
in the artificial corporate structure of the UNITED STATES OF
AMERICA Inc. with all capital letters, as in a court document.
As a share holder any and all of your property has now become
an asset of the corporation and is susceptible to redemption to
satisfy the national debt when needed.
____ŽoMßÎËÞLÅÑËT
The illusion of freedom will continue as long as it's profitable
to continue the illusion. At the point where the illusion becomes
too expensive to maintain, they will just take down the scenery,
they will pull back the curtains, they will move the tables and
chairs out of the way and you will see the brick wall at the back
of the theater.”
- Frank Zappa
Heard mention of the US being a corporation since a contract or treaty was signed in the late 1800's.
Have a link to a source?
.
The Act of 1871 created a separate Corporate Government of the District of Columbia.
I learned about this a few years back. Here is a couple of links, there are more if one digs around a bit.
For Washington D.C. start the video at the 9:00 min position.
https://www.youtube.com/watch?v=7wSEiHgu1hw
https://stopthecrime.net/wp/2018/01/15/3-city-states-that-control-the-whole-world-and-their-rolls/
They spelt roles incorrectly, it's not rolls
Before the Great Reset, comes the Great Crash. Bet on it.
Everyone is prepping us for this coming Great Crash.
Right now we are in the Great CONTRACTION, before the Great Crash/Reset. So many young, working people have died suddenly, or have become disabled and are dying slowly. Either way, they are no longer contributing to the economy. This causes a massive economic contraction (the opposite of economic growth).
There is no one to replace all this lost talent. Illegal immigrants (who are not required to take the kill shots, by the way) can't even speak English. So it is all going to come tumbling down......as planned.
Let's just say I have a special love of this counterfeiting fractional reserve bank.
Last year I just walked away from them leaving my credit cards with them to pay off.
Let's just say I have a special love of this counterfeiting fractional reserve bank.
Last year I just walked away from them leaving my credit cards with them to pay off.
Think about that for a minuet...
or maybe just some local no goods looking for drug money ?? Either way its the workings of a desperado. Going to get real ugly out there.
I think this will start the shooting war within our country.
True, we paid into SS for YEARS (40 in my case), however, during the last seven years I’ve more than recouped that, so what I’m getting now is NOT in the till (those funds were robbed incidentally many moons ago) but being created by debt spending.
Bottom line… in an emergency ALL unfunded liability spending can be cut off or greatly reduced at any time. Get out of debt if you can!
The folks who paid in their whole lifetime will get screwed. It may not be a total ending of SS, but it will be dramatically cut.
I am 45 and have always assumed there would be no SS for me when I am in my elder days.
I think you have missed the point of the farce As was from the beginning.
I also served my country in the military, happily. Keep working,maybe you can collect your SS. But it is NOT a given,we earn it.
Speaking of SS, what about all of that illegal income tax they have stolen from me and everyone else for the past 59 years of my life.
Note I said illegal income tax. Monetarily we have earned nothing but a means to the end my friend.
It's been said for years the U.S. Government will never default; they can always just print money. However, that may not be true in extreme cases like we have before us now.
Printing money when your currency is a debt note entails creating bonds as a contra or counterparty entry. This implies the bonds have a market wanting to buy them. The market for U.S. Treasury bonds is becoming more and more dominated by the Fed and by those governments and banks which perceive their alternative value holdings as weaker than the Dollar. But, bonds held by the Fed and by weak hands must needs be harbingers of hyperinflation. Under those conditions, the fact the Fed can always bail out the U.S. with arbitrary numbers on a bond is small comfort. We are seeing those early signs of bond saturation, selective selling ( badly inverted interest rate curve ), and hyperinflation RIGHT NOW. The sea has changed, and for the worse. When the UST bond curve goes back to normal, or worse, goes flat, that is the critical time in the present context.
That BOA is putting this out in public now is very concerning. Default talk prior to this latest debt overage has mostly been theoretical scare tactics confined to media hype to put pressure on lawmakers.
It's all political theatrics.
Those bunch of inbred cock suckers are going to raise the debt ceiling.
They think that by forcing Russia to drop it's knees and suck good o'le American cock and then by harassing China by proxy through Japan, South Korea and the Philippines the dollar will increase in use and thus value.
These retarded shits are only exasperating America's dept .
The American dollar will become as worthless as the German Papiermark which the German people used as kindling to keep warm during the winter, if they ar not careful.
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