Hi everyone.

I see the spreading of a lot of misinformation in the thread referenced above and in these forums - info that is either based on incorrect premises or a misunderstanding about how the financial system works in the United States.  I work in the financial investment industry and want to clear things up so that people do not scare you into buying into their own agenda.  So what I want to do is debunk some of these misconceptions with facts, not opinions or theories, about how our financial system works in the United States.

So please, ask me anything or tell me why you think the US is "going bankrupt" or the Federal Reserve "prints money" or fiat is dead or petrodollar or the implosion of the dollar, and I will respond.  To start things out I can start by saying that the United States is not bankrupt or anything close to it.  A nation which can print its own currency, tax output and has no foreign-denominated debt can never go bankrupt.  The national debt will never be paid down nor does it need to be and this is not a problem.  The government could issue only very short government debt and essentially controls the interest it pays on its own debt, if it were to ever become a problem.

Anyhow, let's hear your doomsday scenarios!