As reported by Reuters State bankruptcy bill imminent, Gingrich says

Discussion in 'Current Events' started by bigrebnc1775, Jan 27, 2011.

  1. bigrebnc1775
    Offline

    bigrebnc1775 Diamond Member

    Joined:
    Jun 12, 2010
    Messages:
    64,004
    Thanks Received:
    3,798
    Trophy Points:
    1,790
    Location:
    Kannapolis, N.C.
    Ratings:
    +4,830
    This is not looking so good. What will happen to the U.S. Dollar if this happens? I hope you folks are stocked up if not look for my thread that was removed to the Conspericy board it has some valuble information in it.

    Legislation that would allow U.S. states to file for bankruptcy will likely be introduced in Congress within the next month, Newt Gingrich, the former speaker of the House of Representatives and a powerful Republican party figure, told Reuters on Friday.

    State bankruptcy bill imminent, Gingrich says | Reuters
     
  2. bigrebnc1775
    Offline

    bigrebnc1775 Diamond Member

    Joined:
    Jun 12, 2010
    Messages:
    64,004
    Thanks Received:
    3,798
    Trophy Points:
    1,790
    Location:
    Kannapolis, N.C.
    Ratings:
    +4,830
    If the stimulus worked so good why are is the government creating a way for the states to file for bankruptcy?
     
  3. Intense
    Offline

    Intense Senior Member

    Joined:
    Aug 2, 2009
    Messages:
    44,909
    Thanks Received:
    5,849
    Trophy Points:
    48
    Ratings:
    +5,863
    By filing Bankruptcy the States will be able to renegotiate damaging Contracts which have greatly contributed to the current state of being we find ourselves in now. We need to look at so much more than CEO abuses, Monopolies, Union corruption, Pension Funds. There are all kinds of Predators milking us dry, many with Government protection.
     
  4. bigrebnc1775
    Offline

    bigrebnc1775 Diamond Member

    Joined:
    Jun 12, 2010
    Messages:
    64,004
    Thanks Received:
    3,798
    Trophy Points:
    1,790
    Location:
    Kannapolis, N.C.
    Ratings:
    +4,830
    You do realize this will cause the dollar to go flat. and will more than likely kill any chance for it to become strong again.
     
  5. Intense
    Offline

    Intense Senior Member

    Joined:
    Aug 2, 2009
    Messages:
    44,909
    Thanks Received:
    5,849
    Trophy Points:
    48
    Ratings:
    +5,863
    There is that, and then there is how we compare to those around us. Government manipulating the value of the dollar to pay off old debt has been around longer than us, no? Makes one miss the Gold Standard, something the Sharks had less power to manipulate. ;)
     
  6. bigrebnc1775
    Offline

    bigrebnc1775 Diamond Member

    Joined:
    Jun 12, 2010
    Messages:
    64,004
    Thanks Received:
    3,798
    Trophy Points:
    1,790
    Location:
    Kannapolis, N.C.
    Ratings:
    +4,830
    Since the Federal Reserve is not under the control of the federal government, the federal government will not have any say or control over the dollar if the government does this. The Reserve will say enough and not cover any U.S. dollars.
     
  7. rdean
    Offline

    rdean rddean

    Joined:
    Aug 9, 2009
    Messages:
    60,111
    Thanks Received:
    6,895
    Trophy Points:
    1,840
    Location:
    chicago
    Ratings:
    +14,965
    From the article:

    "States didn't ask for it. We don't want it. We don't need it," Lockyer said. "Bankruptcy would devastate states' ability to recover from the recession and make the infrastructure investments that create good jobs."

    -----------------------------------------

    Part of the Republicans plan to destroy America.
     
  8. bigrebnc1775
    Offline

    bigrebnc1775 Diamond Member

    Joined:
    Jun 12, 2010
    Messages:
    64,004
    Thanks Received:
    3,798
    Trophy Points:
    1,790
    Location:
    Kannapolis, N.C.
    Ratings:
    +4,830
    How did I know you would turn this into a bash the republican thread? Besides the link do you know anything about this bill they are wanting to create? Who's behind it? Who's supports it?
     

Share This Page