U.S. CONGRESS ENDS DEFAULT THREAT, OBAMA VOWS TO SIGN
BILL
Introduction
by Hugo Adan, 10/17/2013
a. "We can begin to lift this cloud of uncertainty and unease from our businesses and from the American people." Said Obama
b. "Hopefully next time it won't be in the 11th hour," Obama said. "We've got to get out of the habit of governing by crisis."
A. The fact is that most American people didn’t realize the magnitude of the huge catastrophic event that was about to come the day after the default. They were not even informed that there was a bunch of speculator of the QE were profiting from the shut-down. Much less, about the essence of the US debt: who owns treasury-bonds and possesses billions of dollars? Such Q didn’t matter to them. When the corporate media only talked about China and barely mention European countries, the “de-Americanize the world was received here as a laughable joke.
The worse, they didn’t even know that the real owner of the American’s debt, are the super-oligarchy of few private Bankers. That they are the ones who lend the money to the Treasury, that they print the fiat money that lacks support other than the oil we do not possess and the gold we stole & is not in the hands of a National Bank, that we don’t even have.
If they hear they forgot what Ron Paul said “the time will come when our dollars -due to their depreciation- will be received less enthusiastically or even be rejected by foreign countries. That could create a whole new ballgame and force us to pay a price for living beyond our means and our production. “The license to create money out of thin air allows the bills to be paid through price inflation. That is, until the fraud is discovered, and the foreign producers decide not to take dollars nor hold them very long in payment for their goods. Using force to compel people to accept our money without real value can only work in the short run. It ultimately leads to economic dislocation, both domestic and international, and always ends with a price to be paid. We know that day is approaching.The sooner the better.”The end of dollar hegemony” 10/12/13
Instead, the “Who is winning the game? was the daily question here? Which one -was the common answer- the Giants of NY or the clowns in WDC. That is true: The shut-down was just a game, less important than football or whatever type of circus.
Regarding Obama’s hope: "We've got to get out of the habit of governing by crisis.". He miss it. He could’ve put a stop to this type of games. Instead, he elicited them. He de-powered himself.
WHAT IS THE PROBLEM, JUST POLITICS or SYSTEM DISFUNCTION?
The real matter is Presidential governability. In a democracy with a Presidential system (different from a parliamentarian one where the parla or negotiations has to be done with other elected servant of the State) the President is expected not to impose the dictatorship of the majority over minorities, and much less surrender to political blackmail of the later as it happened today. In our system, the president is expected support from the Senate in all issues that concerns national security. It is left to the House the solution of states and local issues. If our nation is at risk, like foreign military attack or the current economic devastation if we default, then there was no point in shutting down the FED. Obama could have expanded the debt ceiling by Executive order. He don’t even need the approval of the Senate, just as Bush did when declared war to Iraq.
He showed to the world that his regimen is dysfunctional to the aim of leading world politics. Accepting the nasty blackmail of the House (we support him if he abandon the health reform already in-law) was a serious sign of weakness not only of his regime but also of the US system. This is what is dysfunctional, so untrusted. If one part of the system doesn’t work (the House) , it has to be closed and not only temporarily. Obama even allow the threats of Senators Marco Rubio (http://video.foxnews.com/v/2748858617001/sen-marco-rubio-continues-his-fight-against-obamacare/?playlist_id=928378949001) and Cruz and Lee http://video.foxnews.com/v/2748873905001/exclusive-sens-cruz-lee-on-lousy-senate-plan/?playlist_id=928378949001 They promised to continue disrupting Obama mandate and getting back with the same issue ins Jan and Fed 2014. They are not only questioning the legitimacy of our President nation-wide, but at international level too. The credibility and authority of this regime, the dollar reliability, is been severely damaged by this State servants.
There are only seven ways of repairing the damage caused by the shut-down at international level:
a. Not the “so sorry for the inconvenience of our defective and weak system”, but instead go to the international table and accept the IMF proposal of Strauss Kahn to create a new world currency –with the dollar in it- for bank reserve and world trade. We have to do it now.
b. We should start by offering the cancellation of the external debt to all emerging economies and other clients of the dollar (if one more QE is to be accepted it will be for this purpose). The mood at world level is set to move out from the dollar, if we do not do it, they will dump the dollar and create regional currencies in the process to implement the IMF new international currency.
c. Indict the 144 representatives of the House who supported the blackmail (dawn the Obama care, down with the Fed government, not to expand the debt ceiling) for breaking the State system and threatening its functionality now on. O se van ellos o se cierra el chiquero. Is either one or the other: if the 144 are nor suspended as House representatives, the House should be closed to prevetn the same problem later on.
d. We should create a National Bank system independent from the 12 major Banks that print the dollars and lend this money to the Treasurer Department with high interest rate. All the accumulated debt to these banks has to be cancelled previous investigation of the corruption and interest-conflict denounced by World Bank whistleblowers. All the Ponzi-Madoff CEOs crooks shoot be indicted. This should be at international level as a condition to accept the dollar inside the basket of major currencies as base for the new IMF currency (the current IMF also need to be re-organized).
e) The value of the petro-dollar is artificial and should be dismantled starting by prohibiting the importation of polluter cars world wide, taxing this trade heavily and offering the swap of one polluter for a new hidro-electric car. There are many other suggestions by clean-energy NGOs.
f) The petro-dollar has created to many human damage world-wide. Now it is being used by the Saudis, Qatar and Emirates to finance jihadist and destroy entire nation-states. These royalties should be indicted for crimes against humanity and their resources confiscated by a new International Court.
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U.S. CONGRESS ENDS DEFAULT THREAT, OBAMA SIGNS DEBT
BILL
WASHINGTON | http://www.reuters.com/article/2013/10/17/us-usa-fiscal-idUSBRE98N11220131017
(Reuters) - The U.S. Congress on Wednesday approved an 11th-hour deal to end a partial government shutdown and pull the world's biggest economy back from the brink of a historic debt default that could have threatened financial calamity.
Senate and House of Representatives each passed the spending measure after Republicans dropped efforts to link the legislation to changes in President Barack Obama's signature healthcare law.
THE down-to-the-wire DEAL, however, offers only a temporary fix and does not resolve the fundamental issues of spending and deficits that divide Republicans and Democrats. It funds the government until January 15 and raises the debt ceiling until February 7, so Americans face the possibility of another government shutdown early next year.
Taking the podium in the White House briefing room after the Senate vote and just before the House took up the measure, OBAMA SAID that with final congressional passage, "We can begin to lift this cloud of uncertainty and unease from our businesses and from the American people."
"HOPEFULLY NEXT TIME IT WON'T BE IN THE 11TH HOUR," OBAMA SAID. "WE'VE GOT TO GET OUT OF THE HABIT OF GOVERNING BY CRISIS."
World Bank President Jim Yong Kim said "the global economy dodged a potential catastrophe" with congressional approval of the deal to raise the $16.7 trillion U.S. debt ceiling.
The stand-off between Republicans and the White House over funding the government forced the temporary lay-off of hundreds of thousands of federal workers from October 1 and created concern that crisis-driven politics was the "new normal" in Washington.
While essential functions like defense and air traffic control continued during the crisis, national parks and agencies like the Environmental Protection Agency have been largely closed.
Senator John McCain, whose fellow Republicans triggered the crisis with demands that the Democratic president's "Obamacare" healthcare reform law be defunded, said earlier on Wednesday the deal marked the "end of an agonizing odyssey" for Americans.
"It is one of the most shameful chapters I have seen in the years I've spent in the Senate," said McCain, who had warned Republicans not to link their demands for Obamacare changes to the debt limit or government spending bill. Polls showed Republicans took a hit in public opinion over the standoff.
The Democratic-led Senate overwhelmingly passed the measure on a 81-18 vote, and the Republican-controlled House followed suit 285 to 144.
POLITICAL DYSFUNCTION
Although the deal would only extend U.S. borrowing authority until February 7, the Treasury Department would have tools to temporarily extend its borrowing capacity beyond that date if Congress failed to act early next year.
In addition to lifting the federal debt limit, the deal calls for creating a House-Senate bipartisan panel to try to come up with long-term deficit-reduction ideas that would have to be approved by the full Congress. Their work would have to be completed by December 13.
The agreement also includes some income verification procedures for those seeking subsidies under the 2010 healthcare law. But Republicans surrendered on their latest attempt to delay or gut the healthcare package or include major changes, including the elimination of a medical device tax.
The congressional vote signaled a temporary ceasefire between Republicans and the White House in the latest struggle over spending and deficits that has at times paralyzed both decision-making and basic functions of government.
The political dysfunction has worried U.S. allies and creditors such as China, the biggest foreign holder of U.S. debt, and raised questions about the impact on America's prestige. The Treasury has said it risks hurting the country's reputation as a safe haven and stable financial center.
Senate Majority Leader Harry Reid and Republican leader Mitch McConnell announced the fiscal agreement on the Senate floor earlier in the day, and its passage was eased when the main Republican critic of the deal, Senator Ted Cruz of Texas, said he would not use procedural moves to delay a vote.
The agreement is a victory for Obama, who held firm and refused to negotiate on changes to the healthcare law, and a defeat for Republicans who have suffered a backlash from the American public, according to public opinion polls.
There was no immediate sign that House Speaker John Boehner's leadership position was at risk. Several Republican lawmakers suggested he may have strengthened his standing among the rank-and-file, who gave him a standing ovation at an afternoon meeting.
The fight over Obamacare rapidly grew into a brawl over the debt ceiling, threatening a default that global financial organizations warned could throw the United States back into recession and cause a global economic disaster.
Fitch Ratings had warned on Tuesday that it could cut the U.S. sovereign credit rating from AAA, citing the political brinkmanship over raising the debt ceiling.
A resolution to the crisis cannot come soon enough for many companies. American consumers have put away their wallets, at least temporarily, instead of spending on big-ticket items like cars and recreational vehicles.
"We're sort of 'crises-ed' out," said Tammy Darvish, vice president of DARCARS Automotive Group, a family-run company that owns 21 auto dealerships in the greater Washington area.
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