President could declare national emergency, pass executive order
Paul Joseph Watson
Former Assistant Secretary of the Treasury Paul Craig Roberts warns that President Barack Obama could use the debt ceiling crisis to seize total power, by declaring a national emergency and passing an executive order in the name of preventing an economic collapse.
With the government still in shut down over the failure to pass a spending bill, the U.S. faces an October 17 deadline to raise the nation’s debt ceiling, which currently stands at almost $17 trillion dollars.
According to Roberts, there is a chance that Obama could exploit the disastrous consequences of a default to push for dictatorial control.
Roberts says that one of two scenarios will happen if Congress fails to make a temporary deal with the White House to raise the debt ceiling.
Either the Federal Reserve would simply lend the Treasury the money, similar to how they propped up foreign banks with at least $16 trillion in bailout funds, or Obama would “declare a ‘national catastrophe’ and simply assume the leadership of the government.”