(UK) Treasury preparing for the worst in ongoing US crisis

(UK) Treasury is ready for the worst in ongoing US crisis

The Treasury is drawing up emergency plans this weekend in case America defaults on its debts as political bickering in Washington threatens to take the world’s biggest economy to the brink of disaster.

Chancellor George Osborne, the Governor of the Bank of England Sir Mervyn King, and the chairman of the Financial Services Authority Lord Turner, have held frequent discussions in recent days and are understood to be outlining plans in the event of American politicians failing to reach a deal on the budget deficit this week.

A default by America would send shock waves round global financial markets. 

One analyst said the worst scenario of an ongoing default would be like a Lehman Brothers collapse happening every two weeks and would send the world into ‘a sudden and severe depression’.

Such a crisis is still seen as unlikely as politicians are expected to reach a last-ditch compromise rather than risk catastrophe, but after the recent financial crisis officials are preparing for the worst... 

Even without a default it is widely seen as almost inevitable that America will lose its coveted AAA credit rating with the world credit rating agencies – an event that would mark a watershed moment in what history may come to regard as the steady decline of America’s position as the world’s pre-eminent economy.

The American stock market suffered its worst weekly slump as the debt deadline approached with no sign of a resolution…

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 My comment: At the beginning of 2007 almost all Economists, Politicians, and Bankers would have categorically denied even the remote possibility of an Economic Crisis of the magnitude that would lead to the collapse of Lehman Brothers. They would not only have denied such a possibility, they would have laughed in anyone’s face that would have suggested such an outcome. So today, they tell us that it is unlikely that the US will default; that is a huge change of attitude from even  3 months ago when ‘experts’ refused to even consider such a possibility. But like the crisis of 2008 and the Lehman Brothers collapse teaches us in the financial world the impossible is not only possible it is very probable. So the US default which will lead to a collapse of the dollar is much more LIKELY than most ‘experts’ would dare to admit. It is a near certainty; the only question is how long before the dollar goes the way of Lehman Brothers? 

The longer this DEBT–CEILING charade is played out in Washington, the more convinced I become that this is a staged drama to bring about a collapse of the Global Economy and blame it on everybody and their dog but the real culprits, the International Banking Cartel that runs the world.

Moody's: Neither debt plan protects the nation's AAA rating

Moody's: Neither debt plan protects the nation's AAA rating

The "limited magnitude" of both debt plans put forward by congressional leaders would not put the nation's AAA credit rating back on solid footing, Moody's Investors Service announced Friday.

"Reductions of the magnitude now being proposed, if adopted, would likely lead Moody's to adopt a negative outlook on the AAA rating," the credit rating agency said in a new report. "The chances of a significant improvement in the long-term credit profile of the government coming from deficit reductions of the magnitude proposed in either plan are not high."

It added that "prolonged debt ceiling deliberations" have increased the odds of a downgrade, but that the firm is still confident policymakers will avoid a default.

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It appears that a downgrade of US credit rating is in the works, which is the reason why these stories about US default leading to a downgrading of its rating are being floated in the media. Since it is apparent that the US dollar is destined to die a fiery death; the stage is being presently set so that when it happens, those responsible for its demise can conveniently lay the blame on senior citizens or welfare recipients or other social programs like unemployment rather than where it really belongs: the banks of Wall Street and the Federal Reserve System. So the downgrade will undoubtedly come which will set the stage for an actual default not the phony default story being presented by Obama and the media. When an actual default happens the US will not pay foreign nations for its debt, primarily China. The day of the actual default will be the day the Global Economy dies and the world descends into Anarchy for several years, which will claim tens of millions of lives and leave the world in ruins far greater than those of Europe after World War II.

Economic Collapse & Other News July 29, 2011

Economic Collapse and other News July 29, 2011.mp4

This week's News Update:Norway massacre, Debt Ceiling drama, Police state taking shape, Economy is collapsing, Dollar is crashing, sinkholes everywhere, crops destroyed, man has no answers, only Jesus can transform man's heart, and therefore transform the world...Hebrews 9:14

THE COMING CYBER COLLAPSE OF SOCIETY

Recently HACKING or CYBER–ATTACKS seem to be in the News everywhere. The Pentagon reports it experienced cyber-attacks back in March (blamed on China), the phone hacking scandal in England has Rupert Murdoch on the hot seat and is making headlines everyday, and now comes this report out of South Korea that millions have been hit by cyber–attacks, once again blamed on China. It is my belief that cyber–attacks will play a prominent role in the coming collapse of global society, especially in developed countries. I also believe that cyber–attacks will transform China from a most favored friendly trading partner into a most hated foe. 

Cyber–attacks provide a very convenient excuse for several events that are sure to transpire over the next few months and years. I have listed these events in order of importance, based on the criteria of how it will affect life of average people across the world.

• 1.       The coming collapse of the dollar: The collapse of the dollar is inevitable, and the stage is being set by the Washington drama currently being played out between Obama and the Republicans. People in Europe are becoming aware that their impoverishment (deceptively packaged as Austerity) is a direct result of government colluding with banks to defraud them. They are rising up in protests that will soon become revolutionary movements. To prevent the same scenario from arising in America, Wall Street or the Fed or the Banking system of America may conveniently be hit by cyber–attacks to be blamed on mysterious foreign powers, namely China. Why China would want to shoot itself in the foot by destroying Western Economies is a question the MSM will conveniently forget to ask. Other than people in America, China stands to lose the most if the US dollar crashes and burns. But since the crash of the dollar is inevitable such cyber–attacks will very conveniently shift the blame from the real culprits, Wall Stress, The Fed and The US Treasury to foreign enemies. As the MSM will incite Americans to become China haters (or Russia haters or Iran haters or North Korea haters but most likely China), Americans will give a free pass to their leaders who will have deliberately led them into this morass. Nonetheless the result will be a collapse of society and a descent into Anarchy which will be allowed to persist for a season as America, literally and figuratively burns to the ground. Like the Phoenix arising from its ashes, out of the ashes of that collapsed society a New World Order will emerge. This New World Order too has been planned for longer than most people would believe but we are now well into the execution phase of their plans and these plans demand a death of the dollar, and of Middle Class societies everywhere, particularly in America.

• 2.       A shutdown of the Electrical grid: Once again cyber–attacks have the potential to shut down the electrical grid of any country or region. Such hypothetical scenarios have been speculated upon by intelligence agencies as well as by Hollywood. One of the Die Hard movies with Bruce Willis was based on the premise of terrorist cyber–attacks on the East coast electrical grid of the US. Whatever the origin of such attacks, the purpose of throwing developed nations back to the Stone Age at the flick of a switch does exist and may well be experienced in parts of the world, particularly in America. As in the case of the collapse of the dollar, cyber–attacks would provide convenient new enemies while accomplishing the purpose of destroying society as it presently exists.

• 3.       A shutdown of the Transportation grid: Cyber-Attacks would almost certainly shut down the transportation grid, especially for air travel. Such attacks would adversely impact all transportation systems since Road and Rail traffic signals would not work or may malfunction leading to a transportation chaos never before seen in history. Other than the fact that people would not be able to move around, all business and commerce would come to a screeching halt. Since the food supply of almost all of North America rely heavily on just on time delivery for produce, meat, dairy and other food products, any disruption of transportation for more than a couple of days would lead to rioting and looting, once again a state of Anarchy would be created in no time at all.

In closing I would say that our way of life is so dependent on technology that any disruption, even a minor one, will have major consequences. Even more than terrorist attacks such as on 9-11, Cyber-Attacks pose a greater threat to life almost everywhere on the planet. I am certain that the PTB have not overlooked the value of Cyber-Attacks in furthering their plans of introducing a New World Order, a totalitarian system with a very few HAVES and a majority of HAVE – NOTS. The population reduction agenda would also be greatly forwarded by such events combined with biological and viral attacks, all of which are sure to come in the near future. 

Related Stories:

BBC: Millions hit in South Korean hack: South Korea has blamed Chinese hackers for stealing data from 35 million accounts on a popular social network.

Pentagon reveals 24,000 files stolen in cyber-attack: The Pentagon has disclosed that it suffered one of its largest ever losses of sensitive data in March when 24,000 files were stolen in a cyber-attack by a foreign government.

Trojan asteroid seen in Earth's orbit by Wise telescope

The following BBC report brought to my mind these verses of scripture:

Revelation 8:8-9 And the second angel sounded, and as it were a great mountain burning with fire was cast into the sea: and the third part of the sea became blood; 9 And the third part of the creatures which were in the sea, and had life, died; and the third part of the ships were destroyed.

Trojan asteroid seen in Earth's orbit by Wise telescope

Astronomers have detected an asteroid not far from Earth, moving in the same orbit around the Sun.

The 200-300m-wide rock sits in front of our planet at a gravitational "sweet spot", and poses no danger.
Its position in the sky makes it a so-called Trojan asteroid - a type previously detected only at Jupiter, Neptune and Mars.
2010 TK7, as it is known, was found by Nasa's Wise telescope. The discovery is reported in this week's Nature journal.


2010 TK7 traces a complex path at its orbital point, moving above and below the plane of the Earth's orbit

It is a fascinating observation because the relative stability and proximity of Trojans would make possible targets for astronaut missions when we eventually go beyond the space station.
2010 TK7 is probably not the rock of choice, simply because it travels too far above and below the plane of Earth's orbit, which would require a lot of fuel to reach it.
Nonetheless, its detection means it is highly likely there are other, more suitable Trojans out there waiting to be found.
The difficulty is the viewing geometry that puts any Trojan, from the perspective of an Earth-based telescope, in bright skies.
 

 

Trojan asteroids are considered possible targets for astronaut missions

 

It took an orbiting telescope sensitive to infrared light to pick up 2010 TK7.
Wise, the Wide-field Infrared Survey Explorer launched in 2009, examined more than 500 Near-Earth Objects (NEOs), 123 of which were new to science.
The authors of the Nature paper sifted through data on these rocks, looking for the candidates that might be Trojans.
Follow-up work on the Canada-France-Hawaii Telescope confirmed the status of 2010 TK7.
It traces quite a complex path at its orbital point. Currently, it is about 80 million km from Earth, and should come no closer than about 25 million km.
The team says its orbit appears stable at least for the next 10,000 years.
2010 TK7's existence should not really be a surprise. Jupiter, Neptune and Mars all have collections of rocks sitting in the so-called Lagrange points 60 degrees ahead of or behind the planets in their orbits.
In the case of Jupiter, the number of Trojans now tops 1,000 rocks.
"These objects are difficult to find from Earth, simply because they're not very big and they're pretty faint, and they're close to the Sun as seen from Earth," explained Christian Veillet from the Canada-France-Hawaii Telescope and a co-author on the Nature study.
"But we can find them from space, and future satellites will likely find some more. We think that there are others which will be very close to the Earth and have motions that make them relatively easy to reach. So, they could be potential targets to go to with spacecraft," he told BBC News.

Jonathan.Amos-INTERNET@bbc.co.uk