Russian Central bank has also announced selling USD and buying CDN. Nothing new, demise of the dollar seems open secret at this point. I spent an hour thinking about this and it seems pretty clear how things will happen. - USA is trying to cheat the world and not pay debt. - So they will devalue US dollar into extinction but they need a "event like 9/11" - Event is going to happen that will overnight put the US into emergency law and action. - This event may be some new comeback of type of Swine flu H1N1 or maybe another "terrorist attack" - The defaulting of debt will happen together with this "event" - Collapse of economy will be blamed on this "EVENT" - The world will be told, "sorry we had this EVENT, too bad, sorry"
the whole world is bankrupt anyway, it's a monopoly game now with credit involved, everybody has a gun, the bank will end up owning the world, the world will end up raiding the bank, you rape me I rape you
No that is not true, please have a look at debt of China and Russia and Canada You'll find very interesting numbers. You'll find either no debt or manageable debt. You can't compare everyone in the world with USA.
sorry but I doubt China or Russia will even save themselves. China is Dubai^10 but nobody must say it. Russia is an empty shell. Only Canada still seem to be okay. Well, they are very close to the US. Wouldn't take much to perform a little anschluss I guess. Maybe Australia will save itself if it not burnt by the ozone hole
I have better things to do but I can't stand such incorrectness. Do you realize Russia is supplying entire EU with OIL and GAS. Russia also has other untapped resources. Do you know that China has no debt. You somehow believe that doesn't matter. How old are you and do you have any schooling. As for Canada yes I agree they are far better off than USA.
Very interesting.... However ...one must consider that when one has a real problem....one must have the incentive to create a solution for it.... There is quite a bit of talk going on about the demise of the dollar....which is reflective of a problem that has arisen from a time of dollar strength to one of weakness.... So....just like a plumber...one must find the leak....and then fix it....or else the leak simply continues....the problem does not go away..... Ok....so what is a dollar worth....? This is like asking....what is a country worth ? Ok ....so one way to view what a country is worth....is to view the country as if there were no imports...none.... In this case what would people eat.....drive....have in their homes....use for energy.....wear......use for medicine....communications....education.....water.....living quarters....etc....credit....debts...savings....innovations .....etc.... retail/wholesale conduits.... Now review what has changed since the dollar moved from strength to weakness..... One would think that most any basic level economist could see this picture....as the comparisons are clear.... The real question should be what is being done to re-establish currency strength....
In other words, your original post titled "exactly how things are going to Play out" was the only correct opinion, and no one should have the nerve to question your wisdom and deity???
The US will default, but it won't be the first. Look to the Lehman Brothers -- AIG timeline for your answer. We all know that the US has an unsustainable situation between it's debt and it's commitments of entitlements, pension funds, etc. It's politically unacceptable for Congress to cut back on the obvious, our commitments. They need an external trigger for that to happen so that they can proceed without damage to their own political lives. That's where the LEH -- AIG timeline comes in. The US has to wait for a country, say the UK, to default first. It's then, with the global pain that inflicts, that the US stands up and says "we're next..." At that point the G20 has no choice but to declare a global debt write down because once the US goes we'll suck each and every one of them right down the tubes with us courtesy of globalization.
So, you prefer Russia's brand of capitalism to the West's? Yeah, China is a bastion of corporate and government visibility. EVERYONE is dependent on the other today. There are few self-sufficient economies in the world and none of them are in the G20.
Seems plausible, but I think wrong. If after the USA defaults, how does it float bonds? People will be hesitant to buy them and would want a high interest rate to compensate for the "default risk" they'd be taking. The alternative would be for the USA to not float bonds, but rather run the country without a deficit.... (yeah, like THAT would ever happen)