Tim Geithner Is A Complete Joke Of A Human

Now that everyone out there has had a chance to put their "spin" on the S&P ratings downgrade, let's talk about the truth.  The truth is that the U.S. deserves a triple-A rating only because it can print enough money to guarantee debt repayment.  So in a nominal sense, there's no risk of default.  But in a "real" sense, the U.S. is effecting a "de facto" default because it is effectively guaranteeing debt repayment via dollar devaluation.  And Obama is going around the country now giving "town hall" speeches designed to summons public support for his reckless spending and for Congress to increase the debt limit.  As you'll note from this news report, LINK, he's trying to discredit the message being sent by S&P when, in fact, that message should be the PRIMARY focus of policy implementation.  The fact of the matter is that our Government spending and deficit and debt level will continue to increase and the S&P warning will soon be forgotten.  Until it's too late...

The golden truth, if you will, is that I'm now wondering why the U.S. Government even bothers creating the facade of debt limit legislation.  Seriously.  What's the point?  Has Congress ever failed ultimately to not raise the debt limit?  I love the juxtaposition of statements coming from Geithner in this regard and with respect to the S&P action.  This was a headline in Sunday's NY Times:  Debt Ceiling Increase Is Expected, Geithner Says LINK and this was a headline from Geithner after yesterday's ratings downgrade:  Treasury:  S&P misreading political will to cut debt LINK 

Is this some kind of joke?  How many of you actually believe that the Government will figure out a way to cut spending and raise revenues?  The Congressional Budget Office, a non-partisan Federal agency - has prepared a report that shows the degree to which Obama's budget for 2012 will increase our deficit over the next decade.  Anyone still wondering why S&P put the Treasury debt on downgrade watch?  Apparently Geithner is still wondering.  Here's a link to that a report  LINK (source:  zerohedge.com).

For Geithner to spend his time and our money over the last 4 days trying to convince us that the Obama Government will be able to cut the deficit - when the CBO, a non-partisan part OF the Government, is issuing a report showing mathematically that the Obama Government is in fact substantially inreasing the deficit over the next decade - is analogous to Geithner telling us that he doesn't have to use the bathroom when in fact he's concomitantly deficating in his underwear.

I haven't decided if Geithner is dumb enough to believe that the we are dumb enough to believe him or, worse, if he's dumb enough to believe himself.  But I suppose that, when we're talking about someone who is as dumb as Geithner seems to be, degrees of relativity are irrelevant.  At best, for Geithner to overlook such obvious back-to-back incongruity in his highly visible public statements reflects the sloppiness of a child.  I guess he does strike me as the type of kid who's mom wiped his ass for him until he was about 10.

And what does all this mean?  It means that one would have be financially suicidal to invest in U.S. Government debt, or let their financial advisor invest their retirement funds in Treasury securities.  I know of many advisers who are doing that for their clients now.  It's absolutely stunning to me how many financial markets professionals are still ignoring or denouncing gold (it's actually great for me because it tells me we are a long way from the "bubble" phase in gold).

But gold hit $1500 today for the first time in history.  Why?  Because gold is the ultimate arbiter of truth, of what's right and what's wrong. And when gold is going higher, like it has been for the last 10 years, something/many things is/are wrong in the sytstem.  And the number one problem, first and foremost, is that the Government of the world's reserve currency is technically bankrupt.  If that is not the case, then why has the value of the of the U.S. dollar - as measured against a basket of global currencies - been nearly cut in half since 2000 while the price of gold has increased 600% as measured in U.S. dollars over that same time period?