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Last week, Miles Franklin’s Bill Holter penned a missive titled “It was… “fun to have fun!””; postulating the following:

As for the debt ceiling…Treasury Quietly Warns: ‘Expect Debt Limit to Be Reached Near End of 2012’…there is no question it will be raised – and possibly even eliminated.  I say “eliminated,” because raising the limit every year has become embarrassing; and there is no point anymore pretending there is a “limit”.  Bernanke has already made it clear “infinity” is the limit to QE, so the Treasury might as well join the festive ride!

Embracing the time-honored principle of Occam’s Razor, Congress – like the Fed – will take the easiest way out.  Eliminating the debt ceiling will indeed reduce government “embarrassment”; as it become downright annoying to argue like children every year or so.  After all, if you can just PRINT as much money as you’d like, what’s the point of having a debt “limit” at all?

Of course, this is where REALITY tends to show its face; as it did last year, when the “debt ceiling debacle” catalyzed crashing stock markets, the stripping of America’s

“Triple-A” credit rating, and gold prices surging to ALL-TIME HIGHS.

To counter the forces of REALITY, TPTB simply stepped up their market manipulations; such as “OPERATION PM ANNIHILATION I” on September 6th, 2011 – when “DOLLAR-PRICED GOLD” achieved an ALL-TIME HIGH, and the Swiss National Bank DEVALUED the Franc by 9%…

Unfortunately, masking reality with market manipulation only ensures the ultimate MELTDOWN will be catastrophic.  That is, if – or more likely, when – the debt ceiling is eliminated, TPTB will have to work exponentially harder to prevent the RAMIFICATIONS of surging, limitless, printing-press-funded debts from expressing themselves on BOTH Wall Street and Main Street.  They cannot possibly win, but this is what trapped rats on a sinking ship inevitably do – scurry for the highest ground, even if the “highest ground” is ALREADY UNDERWATER…

If this is the direction the rats are going, that’s good enough for me

In my view, eradicating America’s $16.394 trillion debt ceiling before it is breached – likely next month…

U.S. National Debt Clock

…would be nothing short than issuing a “license to hyperinflate”; in essence, PUBLICLY ADMITTING the government’s intention to take the “DEBT CEILING TO INFINITY.”

If this occurs, I STRONGLY believe the demise of the GLOBAL FIAT CURRENCY REGIME will be nigh; and by “nigh,” I mean imminent!

PROTECT YOURSELF, and do it NOW!

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