[nukkad] Re: US public debt

["Dr.M.C. Gupta" <>]

IMPORTANCE OF THE EARLIER MAIL ABOUT US PUBLIC DEBT

[As understood by a layman]

1. At the end of 2006, US public debt, totalling various heads, could be
around 60 trillion dollars, in terms of
http://en.wikipedia.org/wiki/U.S._public_debt

It would have risen to much more now.

2. How would any country go about managing it? By printing more paper
currency, in this case the dollar bills.

3. How long would this strategy work. Only as long as people have faith in
that currency, and are willing to give a dollar worth of material goos in
exchange for a piece of paper.

4. What would happen if people realize that the country is sitting on a
massive debt trap, and its solvency is in doubt? The people would prefer
payment in some other curency in preference to the dollar.

5. Which is the other competing international currency? The Euro.

6. If people switch to Euro, and demand payment in Euro, where would it
leave the dollar? Few would accept it in exchange for real goods and
services, hence the inflow of material goods [including oil] and critical
services [including Medical care experts; NASA experts; Software experts and
consultants etc,] would dwindle.

7. What would be the result of the above? The collapse of USA.

8. What did Saddam want? And what does Iran want now? Payment for their
material goods [oil] in the currency of their choice, the Euro. [Ref:
www.lemetropolecafe.com]

9. Is it the right of the seller to sell goods only on payment in the
currency acceptable to it? Yes.
10. Was it wrong on the part of Iraq and Iran to insist on payment in Euro?
No.

11. What was the response of US to Iraq? --Spread the bogey of WMD and bomb
Iraq and kill Saddam.

12. What is the response of the US to Iran? --Spread the bogey of Iran's
dangerous nuclear designs and try to bomb and vanquish Iran.

13. What is the response of Indian lovers of US culture and dollars? Ignore
all the above and woeship USA as the mother of democracy, human rights and
lawful governance, foolishly forgetting that it was the US who instigated
China against India and has been openly propping Pakistan against India.
Refer the following:


*Target India, Nixon told China*

*2 Jul, 2007 l 0143 hrs IST l PTI*

*
http://timesofindia.indiatimes.com/India/Target_India_Nixon_told_China/articleshow/2165750.cms
*

*                                                         *

* NEW DELHI: The recently declassified US official records throw new light
on the anger and frustration that seized president Richard Nixon during the
1971 Indo-Pak war and how Washington secretly pleaded with China to 'menace'
India by moving troops to the Indian border. *

14. SUMMARY-- Better beware, in advance, of  the wolf in sheep's cloting.

M C Gupta

===============================================




On 1/28/08, Dr.M.C. Gupta  wrote:
>
> The following is from my archives. It would be interesting to those who
> want info related to US recession, and the cause for the same.
>
> M C Gupta
> ===========================================
>
> http://www.brillig.com/debt_clock/
>
> The Outstanding Public Debt as of 20 Jun 2007 at 03:33:01 PM GMT is:
> $ 8 , 8 1 0 , 2 4 8 , 5 6 2 , 9 6 1 . 3 2
>
> The estimated population of the United States is 302,210,657
> so each citizen's share of this debt is $29,152.67.
>
> The National Debt has continued to increase an average of
> $1.15 billion per day since September 29, 2006!
> ==========
>
> http://en.wikipedia.org/wiki/U.S._public_debt
>
> United States public debt, commonly called the national debt, gross
> federal debt or U.S. government debt, is the amount of money owed by
> the United States federal government to creditors who hold U.S. Debt
> Instruments. As of the end of 2006, the total U.S. public debt was
> $4.9 trillion. This does not include the money owed by states,
> corporations, or individuals, nor does it include the money owed to
> Social Security beneficiaries in the future. If intragovernment debt
> obligations are included, the debt figure rises to $8.7 trillion. If
> unfunded future obligations are added (i.e. Medicare and Social
> Security) this figure rises dramatically to a total of $59.1 Trillion
> [1]. In 2005 the public debt was 64.7% of GDP. According to the CIA's
> World Factbook, this meant that the U.S. public debt was the 35th
> largest in the world by percentage of GDP
>
> tv
>
> 20 June 2007
>
>
>
>
> --
> Prof. M C Gupta
> MD (Medicine), MPH,  LL.M.,
>
> Advocate & Health and Medico-legal Consultant
>
> mcgupta44@gmail.com
> www.writing.com/authors/mcgupta44
> http://mcgupta44.blogspot.com/




-- 
Prof. M C Gupta
MD (Medicine), MPH,  LL.M.,

Advocate & Health and Medico-legal Consultant

mcgupta44@gmail.com
www.writing.com/authors/mcgupta44
http://mcgupta44.blogspot.com/


---


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