Look Peter, I know you're a good shit, it's nothing personal apart from the fact that when the chickens come home to roost, all of us working people are going to get it, and hard. And the fact is, this is not a Republican problem or a Democratic problem, it's a political financial problem that both parties are responsible for dating back to before Roosevelt, to the incorporation of the FED and the income tax. And actually the bankers go back further still as a stirrer of the American tea cup.

Check out fractional reserve banking. It's the financial system we are under. Most of the world is in fact. What was the first thing NATO did in Lybia, set up a reserve bank tied in with the BIS. Now only 4 countries lack such financial affiliation to the Anglo American banking system. It's a fascinating, AND EFFECTIVE, tool for the manipulation of nations internal affairs. (Perhaps you've noticed that Egyptians are chaffing under military rule. Who backed that. Arab Spring was a nice theatrical piece in its short run on the American stage.)

But back to home. Our national debt -not to be confused with the 'annual deficit' which adds to the national debt- is almost equal to our GDP, which is roughly $15 Trillion a year and declining were it not for inflation. If you had an outstanding debt that was about to exceed your annual income, what would your future look like? That's America right now. Keynes was wrong, you cannot buy your way out of debt, not even governments. Probably the only remedy, is the death and destruction of war. Oh wait America has like 5 of those going and more on the drawing boards.

So back to my initial question. If the international credit rating agency's, such as Moody's, are talking about downgrading our credit reliability due to the fact mentioned above, that our debt is going to exceed our national annual production in the next few years, WHY, is the FED is promoting raising the debt ceiling? The PHD brainiacs are demanding an unsustainable, destructive* course of action. * for the American people-they're planning on getting theirs, again-there's talk of a new stimulus program(instead of a bailout program)

Don't you think Volker, Greenspan and Company knew several decades ago the path they were leading us down with their monetary policies which have largely been rubber stamped by both parties for decades. Sure they did, they knew all of these unfunded liabilities would lead to default while they were profiting every step of the way.

If the American people weren't such chumps for freebies and had demanded fiscal responsibility from our managers, most especially the ones like me who are now old, this very likely to occur fear mongering wouldn't even be under discussion because a reliable sustainable model would be the order of the day. But instead, the Pols screw with Americans and the international bankers who own the FED, make money coming and going.

Truly, the love of money is the root of all evil.

Delighted to hear you're putting away for yourself but keep in mind, even cash reserves are not safe from inflation, let alone hyper inflation.

Be well all.

respects,