I've lost the link, but a financial advisor that owned a successful brokerage recently gave an online presentation called "The destruction of Obama" or similar and made some startling observations:

The national debt is over $20 trillion right now, BUT that is calculated on the current .05% interest rate; and IF the interest rate was raised to, let's say 5%, the debt would double or triple, to $40 trillion or even 60 trillion or more;

And the Federal Reserve can raise or lower the interest rate whenever it wants, and right NOW it is almost at rock bottom; a change in the interest rate would only be UP!

Even at the CURRENT rate of interest, the $20 trillion debt, the INTEREST ALONE could NOT be serviced if every US taxpaying citizen paid 100% of their income in income tax.

So how does the Government keep going?

It prints more dollars, dollars, and more dollars, which by law it can do.

This can't go on forever - eventually it will collapse. Much like the Reichmark did in Germany, where citizens in 1923 had to take a wheelbarrow to the bakery to get a single loaf of bread! One reason the Weimar Republic was doomed and Adolf Hitler came to power...

Pull a dollar bill out of your wallet, and read that language that says the bill is valid legal tender for all debts ublic and private. It does not state it may be redeemed for gold a we are not on the gold standard.

It is on the way already; confidence in the dollar - the world's currency since about 1965 (I think he said) supplanted the British pound sterling has shrunk to to half of what it was, as the de3fault world's currency....

As an example of how this works, let's say you are in Germany and wanted to buy a huge amount of crude oil from Saudi Arabgia. You have to pay ONLY in U.S.dollars - Your German currency can't be used for this purpose. You'd have to convert your Euros to dollars first, then approach the KSA to buy the oil...

So, if faith is lost in the U.S.Standard, and his thesis it already today is down by 50% in the world's confidence, it is speeding towards collapse totally.

HENCE, "The destruction of Obama is on the way".

The dollar in this country is the basis for exchange for goods and services.

When the debacle occurs, it means stores couldn't sell goods, buyers credit cards are no good anymore, nor the money, and the economy could come to a grinding halt because or way of continuing on at all...

It would be Obama's total destruction right there; nothing else would be necessary.

Far more - the USA would be plunged into darkness, when the power grid shuts off.

It is terrifying to even think about. I think those of any political stripe would agree that this could be what ruins us all.

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1995 E 420, 170k "The Red Plum" (sold)

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