America is So Broken

   Posted by: chris   in Fish Talk

America is So Broken

US DebtBy all accounts there are 147.6 million ounces of gold in Fort Knox. Gold is trading at $1383.6 per ounce that puts the value of gold in Fort Knox at just over 204 billion.

The current US debt is in excess of $14 trillion.

A trillion is 1,000 billion.

The gold reserves in Fort Knox are equal to less than 1/4 trillion.

Current US currency in circulation is in the region of $1 trillion or close to five times the value of gold in Fort Knox.

The current US debt of $14 trillion is 56 times the value of the Gold in Fort Knox.

The Bank bail out cost 700 billion or more than 2 times the gold in Fort Knox.

The failed war in Iraq (Washington Post’s words) cost in excess of $3 trillion.

A Reuters report on Jan 26, 2010 over a year ago put the cost of the war in Afghanistan at $1 trillion.

God only knows how many trillion dollars actually exist in bills and as ledger entries.

The real question is where is all this money coming from and what is it really worth.


On a less cheerful note, the Lord God of “change we can believe in”,  suggests that we cut WIC and Pell Grants to low income families in an attempt to reduce the debt burden.

I wonder who made out most out of the $4 trillion spent in Iraq and Afghanistan, you can bet your bottom dollar it wasn’t some unmarried mother trying to bring up a kid on her own and educate herself at the same time.

Anyway the best bet for America just like Ireland is to take a page out of Iceland’s best selling formula for success and default. Hey even Michael Vick deserved a second chance, why not Uncle Sam.

Now that would be “change we could believe in”!

I can hear Rick Santelli whining now, remember his outburst at defaulting homeowners.

The system is broken, so broken that it is beyond broke (no pun intended). Me I’m for burying the corpse and starting over, this time we should ban all political contributions and outlaw lobbyists, that is what is at at the root of our problems.

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This entry was posted on Friday, February 18th, 2011 at 2:27 pm and is filed under Fish Talk. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One comment


The way we are headed a largely Hispanic America will default on our bonds around 2050

January 2nd, 2012 at 10:46 pm

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