JP Morgan’s Dimon cautions a U.S. default would be ‘potentially catastrophic’

“The country's largest lender has begun scenario-planning for how a potential U.S. credit default would affect the repo and money markets, client contracts, its capital ratios, and how ratings agencies would react, Dimon said in an interview.”


https://www.reuters.com/business/fi...would-be-potentially-catastrophic-2021-09-28/

Wouldn't that be great if there were no debt ceiling? You go to the bank, you tell them you want to buy that multi million dollar mansion, they say it exceeds your debt limit so they won't loan you money because let's be real, you can't afford it. But the US government wants to eliminate a debt ceiling for themselves?

There is a very big difference from the US government spending money and you spending money. When you spend money you have to pay it back. When the government spends money you have to pay it back. Isn't that awesome? I write a $3.5 trillion dollar bill, pay off all my friends millions and billions of dollars and guess what, I don't have to pay anything (that is what Biden said), it is the American people who have to pay.

One day, lonnnnng after I'm dust, the world and those who survive the catastrophe all of this kind of politics is going to cause, it will be discovered what sent the world into that hell was money.
The myth of currency.

A few years ago there was a cold blooded murder in broad light of day near here.
The motive? The shooter owed his victim $30..
The victim had approached the shooter who was with his gf. Threatened him and his children with death if he wasn't paid his $30.. Then he ran to his car and opened the trunk. The shooter told police he shot the man thinking he was going to get a gun from the trunk.
Murdered over Fiat Currency.

Which is why this whole debt ceiling stuff is so ridiculous.

Trillion dollar government budget bills. Trillions!

And why not? It's Fiat.

When the dust settles after the global catastrophe hits, those who survive will come to the realization this could be a better world. If it wasn't divided by the myth "money".

People will live and work and money will be no more. Everyone will have what they need, they'll manufacture, build, trade, for free.

How to reduce crime, violence, poverty, homelessness, classism. Eliminate money.

We are driving off the cliff and there is no turning back.

https://www.thegatewaypundit.com/20...rtfolio-trading-halted-debt-crisis-escalates/

This collapse will be just as huge as the 2008 mortgage meltdown. This is about the CCP stealing money from the common people just as the big banks did in 2008 in the US.

If you pass the debt ceiling they will immediately add $6 trillion to what you owe while paying off their friends. When you let criminals take over the country they will hook up a vacuum cleaner to the Federal reserve and clean you out.

Their arguments were so obvious only those who willfully would not see could not see. Claiming that everyone who voted Republican was some kind of domestic terrorist? Arguing that those who were claiming election fraud were against democracy when #Notmypresident was the Democrat's mantra for four years, the hypocrisy was off the hook and as you have done it will be done unto you.

You thought it was funny that he stayed in the basement and wouldn't answer questions until you have questions and he won't answer them, as you have done it will be done unto you.

You claimed that the President saying the virus was the "China virus" because it came from the bioweapons lab was racist, you wouldn't listen to the president, well guess what, no one will listen to you.

You claimed the President was dangerous and would start a war even though it was the first time in four years that we had peace, he made peace between NK and SK, he made peace in the Middle East, so you got what you wanted, you got Biden. He has given a major military base in Afghanistan to China, Taiwan is now under threat of attack by China, Israel and Iran are already at war.

You said that Hunter Biden's laptop from hell was "Russian disinformation". You drank the kool aid, the good news is your demise will make the takeover of the US much less bloody, and we aren't even talking about the vaccine.