Good point when things are still stable, let chaos break out and everything is on the table. Rennick Alan Poe out
isn't that kind of racist, or something like that? We'll sell you a bond, but if you don't have papers proving you are American, we might not pay the principal.
According to various estimates Bakken Valley alone has useable oil in it worth anywhere from $5T to $50T. Hence no reason for US to declare bankruptcy anytime soon. By 2018, US will surpass Saudi Arabia as the largest producer of oil. Highly likely that in addition to saving $1T a year for domestic consumption, US might even be earning another $500B a year by exporting to energy hungry nations like China and India and even Africa which is supposed to go into faster economic growth by 2020 or so. Also, forgot to add the natural gas that comes with the oil extraction. US public only needs to be afraid of its politicians in the DC and state capitals.
Hahaha, racism is the last thing those greedy bastards are going to be worried about. Sure they'll be pissed but what are they going to do? Here in GA we've had a number of banks that went under where people lost everything FDIC didn't cover, including fortunes in bank stock. Sure, these high enders took a big hit, but they licked their wounds and life goes on. None of them got violent to my knowledge, so the creditor nations shouldn't be a problem either. We'll use the savings to beef up the military if they do
I like this Guy This does put a new paint job on things..under this projection the tables will turn in 10 years and we can demand higher interest rates on our foreign bond purchases
it's not even in the fine print. Everybody knows you are only covered up to 250k by the FDIC. So if you had more than that in a failed bank you knew ahead of time what the risk was. A Treasury Bond is backed by the full faith and credit of the United States of America. You are getting really crazy. In your demented world, a bond means something if you are a US citizen, but it means something else if you are non US. When I sell things, I don't really care what the nationality is of the buyer.
The netting process leaves everyone with zero purchasing power. It only works if some are left standing. It's musical chairs w/o the chairs. As Mav stated we must inflate under a fiat system. You house may be worth millions but cars will hit six-figure averages. It's a more palatable SoL as it's subtle, but you mint millionaires who can't afford a vacation, as wages lack convexity. The result is a country filled with the "rich" who have no purchasing power and are forced into further debt cycles to maintain some semblance of an acceptable SoL and PPP.