Former US Treasury Official - U.S. To Experience Total Collapse

Dr. Roberts:  “The (U.S.) deficit projections, if they are honestly done by the Congressional Budget Office and the Office of Management and Budget, will show a larger deficit projection than Congress faced the last time they refused to deal with the issue.

So, what will they do when as of mid-October, as the new Treasury Secretary has said, ‘The Treasury will have run out of tricks’ to get around the debt ceiling limit?  For example, what the Treasury has done to evade this limit is to pay itself dividends out of Fannie Mae and Freddie Mac (laughter ensues)....

“They have to (do this) because otherwise they can’t pay their bills.  The deficit ceiling stops them.  So they use this to produce revenues.  They also use these kinds of gimmicks to claim that there have been reductions in the cash base current fiscal deficit.  These are all deceptions they (the U.S. Treasury) are using to avoid the letter of the law.  Of course they (still) violate the spirit of the law. 

The real danger is the whole world looks at this and says, ‘The Americans are printing up 1,000 billion (one trillion) new dollars every year to bail out the banks and to finance their current operating deficit, and there doesn’t seem to be any end to this.  There is no resolution and the deficit is worsening.’ Full story at KWN