We seriously need to talk about the debt ceiling
Will Elon Musk and Mike Johnson use their influence and power to bankrupt the United States? Republicans who aren't on board with a global catastrophe must prepare to block them.
As I've reported previously, we will face a potential polycrisis in early 2025. The US debt ceiling, which was suspended via legislation in June 2023, will come back into effect on January 2nd — and at a level lower than needed for current budget levels. Current government funding runs out on December 20, so congress is currently in the process of passing a continuing resolution (or CR), which will at least allow the government to operate for a few months into next year. The new GOP-controlled House and Senate will be installed on January 3rd; the 2024 election must be certified by January 6th; and Inauguration Day is January 20th.
Dave Troy
But the debt ceiling is the potential supervolcano in the mix, and it needs more attention. If we fail to either suspend or extend the debt ceiling before January 2nd, Treasury Secretary Yellen will need to immediately enact so-called "extraordinary measures" to extend our funds a few months longer — in effect choosing which bills to prioritize. Then on January 20, she will hand over the Treasury, which will be effectively unable to meet its obligations, to incoming Secretary nominee Scott Bessent. He will immediately take over the task of deciding what bills get paid and determining the X-Date, which is when the country officially runs out of money for real, and all hell breaks loose.
America is headed for de facto bankruptcy very fast https://t.co/gKYDnimg2V
— Elon Musk (@elonmusk) December 3, 2024
This will be happening while a brand new GOP congress is also being bullied and blackmailed by Elon Musk, Donald Trump, and Vladimir Putin into doing whatever is asked of them. For his part, Musk has said again and again this year, "America is headed for bankruptcy," in dozens of different ways. It would be wise to heed his warning. With a CR in place by year end, spending levels will be unchanged. If congress won't suspend or raise the debt ceiling, then bankruptcy becomes the only option.
US debt default would have catastrophic consequences for the dollar, and Putin wants to attack the dollar in order to end US dollar hegemony. US debt default is in their best interests, and they make no secret of it.
Multiple sources clearly explain this strategy, including Project Russia, a popular Russian book series that predicts the collapse of the US dollar; BRICS currency architect Sergei Glazyev's The Last World War: The US to Move and Lose; Ron Paul's "North/Paul Strategy"; and Steve Bannon's "The End of the Dollar Empire."
All of these texts outline the same idea: to destroy the US dollar in a catastrophic collapse, rebuild using gold and crypto, and radically shrink American power in the world.
Dave Troy
So when Musk says, "America is headed for de facto bankruptcy very fast," we should realize that he is aligned with those who wish to end the dollar, and he is in a position to help make it happen.
Mike Soraghan
Speaker of the House Mike Johnson has been backed by Konstantin Nikolaev, a Putin crony and the largest shareholder of American Ethane. Project Russia was authored in part by Mikhail Yuriev, another major shareholder of American Ethane. The firm is also linked to the well-known Russian spy Maria Butina.
Donald Trump says things, and people react to them and wonder what they mean. He has said things about tariffs on Canada, Mexico, China, and countries that adopt a BRICS currency. His bluster is noise and misdirection, but does create fear and uncertainty as we head into a polycrisis. It also isolates the United States from the rest of the world by creating a wall of distrust and eroding our relationships with allies. NATO and other Five Eyes countries can no longer rely on the United States.
Pay attention to what Musk and Johnson say and do. The strategic goal is to collapse the United States by collapsing the dollar. Inducing a US debt default is the simplest way to achieve their goal. It may be that they can't quite pull it off, or that they get cold feet at the last minute (as this really will be a one-way trip through the looking glass), but don't think they secretly want something else.
Contact your representatives, particularly if they are Republican, and let them know what's coming. Most are not on board with destroying their net worth.
This is Putin's biggest prize, and he's never been closer to obtaining it.
