FedRes Planning For Potential Default !

• The warning signs are there but the sheeple are complacent. The problem is that people have been so dumbed down that they are incapable of thinking for themselves. Coupled with the fact that the sheeple are constantly fed a bunch of conflicting information and disinformation. So they are paralyzed and distracted from the important issues at hand.
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• I can’t tell you which of the last 5 straws will break the camel’s back. But it is absolutely certain that a global economic, financial and monetary meltdown is coming. The Illuminist snakes may play a game of brinksmanship using their politician puppets. This will make the politician snakes look like the culprits in this current crisis and thereafter make the Illuminist banksters look like saviors!
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• Many banks all over the world hold US treasuries as part of their capital to maintain their Capital Adequacy Ratio (CAR). When supposedly safe US treasuries lose value dramatically, it will rock the banking system. Got gold yet?
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  Fed planning for potential default
  By Kristina Cooke and Tim Ahmann, http://www.reuters.com/
  (Reuters) – The Federal Reserve is actively preparing for the possibility that the United States could default as a deadline for raising the government’s $14.3 trillion borrowing limit looms, a top Fed policymaker said on Wednesday.
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  Charles Plosser, president of the Philadelphia Federal Reserve Bank, said the U.S. central bank has for the past few months been working closely with Treasury, ironing out what to do if the world’s biggest economy runs out of cash on August 2.
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  “We are in contingency planning mode,” Plosser told Reuters in an interview at the regional central bank’s headquarters in Philadelphia. “We are all engaged. … It’s a very active process.” Plosser said his “gut feeling” was that President Barack Obama and Congress will come to an agreement to increase the Treasury’s borrowing authority in time to avert a default on government obligations.
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  Obama was due to meet with top Republicans in Congress on Wednesday to discuss the latest attempts to end the dispute over raising the country’s debt ceiling, a row which has raised the prospect of the Treasury Department running out of money to pay its bills next month.
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  The Treasury has repeatedly said default was unthinkable and that there was no alternative to raising the debt ceiling. Plosser’s remarks marked the most extensive public comments yet on preparations for a default from a U.S. official.

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