- WMR has learned from knowledgeable sources within the
US financial community that an alarming confidential and limited distribution
document is circulating among senior members of Congress and their senior
staff members that is warning of a bleak future for the United States if
it does not quickly get its financial house in order. House Speaker Nancy
Pelosi is among those who have reportedly read the document.
- The document is being called the "C & R"
document because it reportedly states that if the United States defaults
on loans and debt underwriting from China, Japan, and Russia, all of which
are propping up the United States government financially, and the United
States unilaterally cancels the debts, America can expect a war that will
have disastrous results for the United States and the world. "Conflict"
is the "C word" in the document.
- The other scenario is that the federal government will
be forced to drastically raise taxes in order to pay off debts to foreign
countries to the point that the American people will react with a popular
revolution against the government. "Revolution" is the document's
- The origin of the document is not known, however, its
alarming content matches up with previous warnings from former Comptroller
General David Walker who abruptly resigned as head of the Government Accountability
Office (GAO) in February of this year after repeatedly publicly warning
of a "financial meltdown" disaster if America's $9 trillion debt
was not addressed quickly. Financial experts have warned that the national
debt, corrected for inflation, could reach $46 trillion in the next 20
years. A month earlier, Walker warned the Senate Banking Committee about
the reaction of creditor nations in Asia and Europe if the U.S. did not
address its debt problem.
- Copyright 2005-2008 WayneMadsenReport.com