Full faith and credit now means full faith and credit only after we see what is left after others skip the line. If this become the template for municiple bankruptcys it will have an insidious effect on all credit markets in time. zdreg http://news.yahoo.com/bankrupt-cali...69--sector.html exactly what happened in argentina. it is coming.
besides all that, San Berdoo has been a shithole for a long time. It's where highway 40 dumps people off that move from state to state and don't make it. Welfare is nothing in the other states along the way and when they get to San Berdoo they stay. It was home to a lot of Biker gangs, probably now it's all Mexicans. I wonder if people get it.. about the Mexicans in California at all? Is it reported in the MSM at all? MS13 controls a few square miles of Los Angeles and police don't venture there. I like to use the train to visit a friend in the San Fernando Valley so I get off at Van Nuys. The frigging busses, if a Mexican is driving it, don't stop unless there are Mexicans waiting. Last time I was there one pulled up and stopped, didn't open the door, and drove off.. I have to spend bucks on a cab when that happens. All the businesses on Van Nuys Blvd have spanish names... the place is a big mexican shithole, reminds me of Tijuana.. I don't think that California can fund it's yesteryear with today's tax revenues from Mexicans. They work cheap and make up for it with welfare. They've been doing that for decades until nobody can compete with them but where is the tax revenue from all that?
Immunity in general is important. I think looking at who or what has been given immunity around the globe would paint a nice picture. In canada the government has made it self immune to bank failures. 1. Cyprus... well no ones responsible they are just governed by a dictator. 2. Monsato has been given immunity.. 3. Texens are no immune to a gold confiscation (assuming it passed ) Adding to the list I am sure will paint out alot.
"Texens are no immune to a gold confiscation (assuming it passed )" it will never happen. it is a different time than the depression30's. people will not hand over their gold.