US possible default on debts (non political posts only please)

[Binnie]

Hopefully we can keep this away from political chat, and concentrate on the possible fall out should US congress not raise the debt ceiling.

I'm sure if we can keep this prepping related SD won't need to trim or remove aqnything.


Anyways....

it's looking likely that the US may well default on some of it's obligations, with less than 24 hours to go to raise the debt ceiling and from what i read online, still no resolution as yet.

What do you guys think would be the threat, if any, to our wellbeing, and, with 24hrs to go, should there be any last minute preps that one should consider?

i think crude based products might jump in price for one, so filling all available containers with fuel at lunch time so i've enough to see me through for a while

[Scythe13]

I think that the US will probably not default. The limit they have $16.7trillion, is not a legally binding thing. It's self imposed. So technically Obama can continue to borrow and get the Fed to print more money...providing other countries are willing to lend to the US. Which is likely, because otherwise they would be cashing in their bonds that funded all the QE's.

It's more likely that Obama would screw people over, instead of default on their debts. Veterans wouldn't get paid, firemen, police officers, and military personal may have their pay 'suspended' for a week or 2. Then the government would have to tax more people to get enough money to pay the bills. That's when the Americans realise that America was founded on a Tax Revolution, that involved lots of Tea in Boston.

As a direct threat, I'd say minimal. However, the possible knock on effect, of say 4 days later, that'll be a much more interesting situation.

Think about US imports. They'll grind to a halt. So anything in your preps that's made in the USA...get more while you can.

Further to this, oil will jump in price, as will food and anything that requires transport to function. Namely, everything in the shops will increase in cost. However, this largely depends on whether the currency markets adjust the dollar properly and promptly. Our government may also cash in their dollars for pounds, which could also cause inflation in this country. It's unlikely, but possible.

The best thing to do, prep-wise, in this situation, is to look at things that you want to have stored up and get them in order asap. Things like fuel, silver, gold, and anything else usually valued by the dollar. Next up, think about the products you order from the US. If there are any, you want to get them shipped in the next 24-36 hours. There is potentially a huge crash coming that could stop your items moving anywhere. Having said all that, there is also the potential that it's just a blip and Obama will get the printing presses rolling until smoke starts billowing. Whether that smoke is from the machines or on the streets...we cannot be too sure.

Hopefully our American members could give us a bit of a heads up on what's going on?

[Straight Shooter]

In my view its just a matter of WHEN not IF the US$ bights the dust, that will drag all countries of the world down along with the U S A there is no way they can pay their debts......or the UK come to that ..NWO will follow ........all that's to be done is do what we do now........PREPARE

[bigpaul]

(16 October 2013, 15:18)Straight Shooter Wrote: In my view its just a matter of WHEN not IF the US$ bights the dust, that will drag all countries of the world down along with the U S A there is no way they can pay their debts......or the UK come to that ..NWO will follow ........all that's to be done is do what we do now........PREPARE

I don't know SS, isn't the USA TOO BIG to fail???

[Scythe13]

(16 October 2013, 15:26)bigpaul Wrote:

(16 October 2013, 15:18)Straight Shooter Wrote: In my view its just a matter of WHEN not IF the US$ bights the dust, that will drag all countries of the world down along with the U S A there is no way they can pay their debts......or the UK come to that ..NWO will follow ........all that's to be done is do what we do now........PREPARE

I don't know SS, isn't the USA TOO BIG to fail???

Truth is, nobody is too big to fail. The Mayans, Babylonians, Leman Brothers, Iceland, Rover, and more. There is no such thing as too big to fair. It's just 'too big for us to let fail...at the moment.'

[bigpaul]

don't forget the Ancient Roman empire!!! if the Americans get a sniffle I guess we all catch a cold??? interesting times we live in!

[Scythe13]

(16 October 2013, 15:48)bigpaul Wrote: don't forget the Ancient Roman empire!!! if the Americans get a sniffle I guess we all catch a cold??? interesting times we live in!

Definitely.

What extra preps are you doing for this specific situation BP?

[LawAbidingCitizen]

Have a few hundred in cash just in case (if you have it that is)

[Scythe13]

(16 October 2013, 15:51)LawAbidingCitizen Wrote: Have a few hundred in cash just in case (if you have it that is)

Always a wise option. If possible, have £100 in each bag you have.

[CharlesHarris]

Those who have been sitting on the fence are getting nervous.

The Walmart EBT card fiasco apparently got many people's attention. I see more than the normal number of people in the grocery store stocking up. It hasn't reached a panic, clean-out-the-store stage yet, but there is a somber quiet atmosphere, like the daze post 9/11. People sense "it" is coming.

Unless you had your preps in order months ago, I think it is a bit late to start now.

I have enough cash in the safe to cover a month's expenses for food, fuel, etc.

Credit card balance is paid off. House and cars are paid for, so no mortage or car payment.

Insurance policies are paid and current.

500 gallons of LGP for the genset.

5 cords of wood for the stove.

A year's supply of food is in the pantry.

Time to start reading Churchhills Vol. 1, The Gathering Storm.

I have the entire set and hope this mess will be resolved by the time I finish them all.