Investors Hangout Stock Message Boards Logo
  • Mailbox
  • Favorites
  • Boards
    • The Hangout
    • NASDAQ
    • NYSE
    • OTC Markets
    • All Boards
  • Whats Hot!
    • Recent Activity
    • Most Viewed Boards
    • Most Viewed Posts
    • Most Posted
    • Most Followed
    • Top Boards
    • Newest Boards
    • Newest Members
  • Blog
    • Recent Blog Posts
    • Recently Updated
    • News
    • Stocks
    • Crypto
    • Investing
    • Business
    • Markets
    • Economy
    • Real Estate
    • Personal Finance
  • Market Movers
  • Interactive Charts
  • Login - Join Now FREE!
  1. Home ›
  2. Stock Message Boards ›
  3. User Boards ›
  4. Political Debate Board Message Board

BUSINESS WIRES By Wall Street Daily Tuesday April

Message Board Public Reply | Private Reply | Keep | Replies (0)                   Post New Msg
Edit Msg () | Previous | Next


Post# of 65629
Posted On: 04/12/2016 6:27:18 PM
Avatar
Posted By: getmoreshares
BUSINESS WIRES By Wall Street Daily
Tuesday April 12, 2016

As history proves, President Obama isn’t above telling a lie.

His latest fairytale offers further insight into the desperate financial condition of the U.S. federal government.

If bestselling author and renowned financial expert, Peter Schiff, is correct, Uncle Sam’s desperation will soon result in bankruptcy.

A two-year investigation into the 2013 debt-ceiling debate brought Mr. Obama’s most recent untruth to light.

The investigation was conducted by the House Financial Services Oversight Subcommittee, which exposed Mr. Obama as the mastermind behind an extensive government cover-up.

Subcommittee members discovered that the President – in collusion with the U.S. Treasury Department – blatantly lied to the public about the government’s ability to service its debt.

In an effort to get Republican support to raise the debt ceiling, Obama claimed that bondholders, retirees, and the military may not get paid if Congress failed to raise the current limit.



It Was All a Ploy…

During a press conference in October 2013, Obama said that if the debt ceiling wasn’t raised, payments to bondholders, retirees, and military personnel wouldn’t be realistic. “No option is good in that scenario,” said Obama.

Treasury Secretary Jack Lew played along, too, asserting that the federal government couldn’t pick and choose who gets paid and who doesn’t.

Both turned out to be blatant liars.

According to the investigation, the New York Fed was already working on contingency plans to accomplish what Lew and Obama were calling impossible.

Worse yet, internal Fed records indicate that the Treasury restricted the flow of information (concerning its contingency plans) “to pressure Congress” about the debt ceiling.

A Disturbing Pattern of Behavior

Peter Schiff believes that the Obama administration has been misleading the public for years.

When Obama first claimed that the debt ceiling needed to be raised because “America always pays its bills,” Schiff was quick to point out that…

“If America actually paid its bills, we would not be $17 trillion in debt. You don’t pay your bills by going deeper into debt. If you pay your bills, there is no debt, as your obligations are extinguished. You avoid paying your bills by going into debt, and that is precisely what the President wanted to do by raising the debt ceiling.”

Schiff is renowned for being the most accurate forecaster of the 2008 Financial Crisis.

Now he’s warning that Obama’s fiscal mismanagement could lead to a system-wide collapse worse than anything in America’s 240-year history.

MUST READ: CLAIM YOUR FREE COPY OF PETER SCHIFF'S BESTSELLER

A Roman Empire-style Crash

When factoring in unfunded liabilities like Social Security, Medicare, pensions, and government-secured bank accounts, the U.S. is more than $100 trillion in debt.

Such a reality forces the government to spend 14% of its tax revenue on interest payments.

America pays $86-billion every month just to service its debt.

Can Uncle Sam sustain this dangerous imbalance?

According to Peter Schiff, “absolutely not.”

Schiff predicts that America will soon face a crisis of epic proportion – far worse than any terrorist attack.

“We’re broke. There’s no question about it. Our liabilities far exceed our assets. The question is, when is the world going to wake up? But you can’t wait for that question to be answered. You need to prepare in advance.”


(0)
(0)








Investors Hangout

Home

Mailbox

Message Boards

Favorites

Whats Hot

Blog

Settings

Privacy Policy

Terms and Conditions

Disclaimer

Contact Us

Whats Hot

Recent Activity

Most Viewed Boards

Most Viewed Posts

Most Posted Boards

Most Followed

Top Boards

Newest Boards

Newest Members

Investors Hangout Message Boards

Welcome To Investors Hangout

Stock Message Boards

American Stock Exchange (AMEX)

NASDAQ Stock Exchange (NASDAQ)

New York Stock Exchange (NYSE)

Penny Stocks - (OTC)

User Boards

The Hangout

Private

Global Markets

Australian Securities Exchange (ASX)

Euronext Amsterdam (AMS)

Euronext Brussels (BRU)

Euronext Lisbon (LIS)

Euronext Paris (PAR)

Foreign Exchange (FOREX)

Hong Kong Stock Exchange (HKEX)

London Stock Exchange (LSE)

Milan Stock Exchange (MLSE)

New Zealand Exchange (NZX)

Singapore Stock Exchange (SGX)

Toronto Stock Exchange (TSX)

Contact Investors Hangout

Email Us

Follow Investors Hangout

Twitter

YouTube

Facebook

Market Data powered by QuoteMedia. Copyright © 2025. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges).
Analyst Ratings & Earnings by Zacks. RT=Real-Time, EOD=End of Day, PD=Previous Day. Terms of Use.

© 2025 Copyright Investors Hangout, LLC All Rights Reserved.

Privacy Policy |Do Not Sell My Information | Terms & Conditions | Disclaimer | Help | Contact Us