Portugal Foreshadowing?

The financial news is bad coming out of Portugal. Just like the USA, Portugal borrowed much of the money it used to sustain its wonderful standard of living. Now that they have run up the national credit card, it is proving difficult to pay back.

So what is this debtor nation to do.... they have an auction to sell some more IOU's (just like the USA does) and it turns out very few people showed up at the auction to buy any more of their paper IOU's. Since no one was there to bid the interest rate down and now they are announcing the interest rate is unsustainable....and my lead to political unrest.

Do you think???

LISBON, March 16 (Reuters) - Portugal's government blamed higher rates paid at a debt auction on Wednesday on the opposition's refusal to back its latest austerity plans, warning a political standoff could force it to seek a bailout.

Pressure on Lisbon mounted after Moody's credit rating agency downgraded Portugal by two notches late on Tuesday, highlighting the challenges it faces it in riding out its debt crisis.

* Yield rises to 4.331 pct at debt auction

* Govt urges opposition not to block debt measures

* Says current financing rates unsustainable

See it here; http://www.reuters.com/article/2011/03/16/portugal-crisis-idUSLDE72F1HN20110316

The spiral appears to have started for Portugal...and it will one day come for America. And that coming day may be FAR SOONER than practically anybody realizes.

Remember, we are bankrupt already with $15 trillion that we owe and $40-50 trillion in unfunded promises that will come due in the next handful of years. So when we have our next big Treasury auction later this summer....what will happen when Japan, China, Brazil and others simply don't show up...and the interest rate on our IOU's goes up to 5-6 or 7% interest?

Just like Portugal today, Moody's will come and downgrade us, the rates will continue to climb as we have to promise bigger returns to our creditors to compensate them for the increased risk...and overnight we will be exposed as hopelessly insolvent. And just like Portugal....we will need a bailout.

Who will be there to bail us out?? The International Monetary Fund of course!!

Repeat after me...."ONE-WORLD-CURRENCY".

And who will ultimately control that ONE WORLD CURRENCY???

Repeat after me...."THE ANTICHRIST".

Get it??