Karl Denninger is really starting to scare the bejeesus out of me . . .

His latest: Avoidance Will Not Work[*1] :

Bernanke doesn’t have this under his control. He wants you to think he does, but he does not. His “nuclear option” forces him to monetize roughly thirty trillion of rolling debt. If he does it, the currency instantly collapses and the government very well might go with it.

Geithner definitely doesn’t have this under his control. The Government can only give him that control by ceasing deficit spending. We’re talking about a 50% cut in the Federal Budget – including entitlements. Are you willing to accept that? You’re going to have to be – because ultimately, that’s going to have to happen.

And Obama doesn’t have this under control at all. His only mantra? Spend more money we don’t have. Pure insanity – the very reason we’re in this mess.

No, folks – the power and choice is yours, but if you choose not to act – here and now – once that line is crossed it isn’t going to make a damn bit of difference what you do.

Your wealth – all of it – will be lost.

Yep. Bejeesus. Scared. Totally out. Gimme a beer.

We Are So Screwed.