China is now worried about their dangerous over investment in US Treasury obligations. Washington ’s long-term choice is either repudiation or monetization. For monetization to be effective, the depreciation in the dollar would have to be substantial and this in turn would dramatically raise prices of imports for American consumers which would mean a tremendous drop in foreign imports. Debt monetization would cause more disruption to exporting nations than selective repudiation of Treasury debt.

The Campaign to Cancel the Washington National Debt By 12/22/2013 Constitutional Amendment is starting now in the U.S. See: http://www.facebook.com/group.php?gid=67594690498&ref=ts

Thanks,

Ron with 30 plus years in the investment business and banking industry.

“Limbaugh cherry-picks his facts, distorts things when convenient, claims to be omniscient when he is far from it. And, in my opinion, he is also a racist. His faithful followers fail to see how illogical he is.”

From Carol Browner’s Wikipedia page: http://en.wikipedia.org/wiki/Carol_Browner

“During Browner’s tenure, there were many reports from African American employees of racism directed at them from a network of “good old boys” who dominated the agency’s middle management layers.[16] The most known of these involved policy specialist Marsha Coleman-Adebayo, who in 1997 filed suit against the agency; in 2000 the EPA was found guilty of discrimination against her and she was awarded $300,000.[16][17] Coleman-Adebayo said that Browner allowed the problems to persist rather than trying to clean them up: “She wasn’t at all sympathetic to complaints about civil rights abuses. We were treated like Negroes, to use a polite term. We were put in our place.”[16] In an October 2000 Congressional hearing on the matter,[18] Browner appeared near tears as she said minorities had tripled in the agency’s senior ranks during her time as administrator, but she was unable to explain why the culprits in Coleman-Adebayo’s case had not been dismissed and in some cases had been promoted.[16] A month earlier, Browner had asked for the Office of the Inspector General to linvestigate a statement by an African American environmental specialist that she had been ordered to clean a toilet in 1993 in advance of Browner’s arrival at an EPA event.[19] This followed a rally in which dozens of EPA employees protested what they saw as rampant bias at the agency.[19] Congressional dissatisfaction with the EPA situation and its treatment of Coleman-Adebayo led to passage of the No-FEAR Act in 2002, which discourages federal managers and supervisors from engaging in unlawful discrimination and retaliation.[17]“