Control of the MONEY just changed in the US!
The surprise election of Republican Scott Brown for the Massachusetts Senate seat is a huge GAME CHANGER in the battle for control of the US monetary system.
First, there is the obvious problem with getting the Obama's spending and regulatory initiatives over the goal line...
http://www.huffingtonpost.com/2010/01/20/obama-backers-more-commit_n_429673.html
But there is a much more significant issue related to our national debt. As I have discussed many times, the debt ceiling almost maxed out on Dec 24, 2009 and a temporary limit increase was passed by the slim margin of 1 Democratic vote. That new limit will be hit again any day now.
Now that 1 Democrat is gone from the Senate and 1 Republican has been added...will they have the votes to increase the debt limit again? Is this the tipping point we have been looking for? Obama's "SPEND-O-RAMMA" and Tim Geithner's "MARKET RIG-O-RAMA" cannot function without the open spigot from Congress.
Let's take this a step further…
The FDIC is OUT OF MONEY and relies completely on the $500B "open line of credit" from the US Treasury. If the US Treasury can't print any more money due to the spending cap… WHERE WILL THEY GET THE MONEY TO COVER THE FDIC OBLIGATIONS?
Tip of the Week: Get your money out of the banks immediately!
