Thread: Economic Precipice Near Video

Final Warnings Report - Economic Precipice Near *Video*

Author: Mac Slavo- January 10th, 2011
Comments 100

The latest video from SGTbull07 follows up on our recent post Confirmed: We’re Literally On the Brink of Catastrophic Collapse. http://www.shtfplan.com/headline-news/c ... e_01062011

Regardless of what we’re told by our government officials and Federal Reserve Chairman in media soundbites, or what a large portion of our fellow Americans want to believe after they’re done smoking or injecting their daily dose of hopium, the reality is that the world, especially the United States, is about to enter a time unlike anything we’ve ever seen before.

Video: MUST WATCH - FINAL WARNINGS REPORT : Economic Precipice Near http://www.youtube.com/watch?v=j7_7IYuk ... _embedded#!

Those who can read the writing on the wall are preparing for the worst.

Now is the time to start thinking about what assets will retain value.

Got silver? Got bulk food? How about brass? You don’t have to go all in, but if you’re not looking ahead at the possibility of a completely worthless US dollar and an unprecedented economic meltdown, then we’re not exactly sure what additional evidence you need in order to be convinced that a storm is coming.

You can be a week, a month or even several years early. But you most certainly don’t want to be a day late on this one.

More videos from SGTbull07 http://www.youtube.com/user/SGTbull07

Read Tim Geithner’s January 6, 2011 letter to Harry Reid / Congress http://www.treasury.gov/connect/blog/Pages/letter.aspx

More in the Emergency Preparedness category http://www.shtfplan.com/emergency-preparedness

http://www.shtfplan.com/headline-news/f ... o_01102011

Secretary Geithner Sends Debt Limit Letter to Congress
By: Erika Gudmundson 1/6/2011

Today, Secretary Geithner sent the following letter to Congress regarding the debt limit (download the signed letter here):

January 6, 2011

The Honorable Harry Reid
Majority Leader
United States Senate
Washington, DC 20510

Dear Mr. Leader:

I am writing in response to your request for an estimate by the Treasury Department of when the statutory debt limit will be reached, and for a description of the consequences of default by the United States.

Never in our history has Congress failed to increase the debt limit when necessary. Failure to raise the limit would precipitate a default by the United States. Default would effectively impose a significant and long-lasting tax on all Americans and all American businesses and could lead to the loss of millions of American jobs. Even a very short-term or limited default would have catastrophic economic consequences that would last for decades. Failure to increase the limit would be deeply irresponsible. For these reasons, I am requesting that Congress act to increase the limit early this year, well before the threat of default becomes imminent.

As you know, in February of 2010 Congress passed legislation to increase the debt limit to $14.29 trillion. As of this writing, the outstanding debt that is subject to the limit stands at $13.95 trillion, leaving approximately $335 billion of “headroomâ€

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