Neil Cavuto admits U.S. Will Lose Triple-A Rating this Fall...

[Ares]

http://www.youtube.com/watch?v=xoYWlKnP6VI

[Serpo]

But its only a mere 14Trillion of debt,its not that bad............

[Fudup]

If we lose AAA rating on our debt, its over unless we nuke the world.



hmm... 8)

[zap]

So what do we do, you and me? dump every dollar we have, only hold gold and silver?

[Fudup]

I'm trying to stock up on necessities. If I have to hunker down for a little while with just the basics until normal supply trains are restored, I'm good. If its poop goin fan for the duration, the zombies will probably get me anyway, I live in the burbs. I've got as much silver as I was willing to dump into the river, but I don't have much confidence that it will make me rich.

[Fudup]

Oh, and I've got lots of tobacco. Cigs and Cigars make good bribes. ;D

[Joe King]

So what do we do, you and me? dump every dollar we have, only hold gold and silver?

If everyone pulls out and trys to dump their dollars, isn't that a tad bit inflationary?

[zap]

I mean right now, would any of you guys hold a fair amount of cash?

If we lose triple A rating what happens?

[Joe King]

I mean right now, would any of you guys hold a fair amount of cash?
Define "fair amount".
But in general, no.





If we loose triple A rating what happens?

We go to double A rating? I dunno.

But just taking a stab at it I'd say that losing AAA means our debt is a bigger risk and therefore it might not sell as well, or we have to pay higher interest on that debt in order to keep selling it.
If they can't sell debt, I believe that means the fed becomes the cavalry.

[Fortyone]

So what do we do, you and me? dump every dollar we have, only hold gold and silver?


No Zap, In the event of collapse,believe it or not, initially,Cash would be king. Credit based products and checks would be the first to be refused. After a extended period, people would begin to refuse cash as inflation ate up their reserves, then,finally we move into the PM method of exchange, along with barter.
As far as AU is concerned, it holds wealth, you dont use it as common currency. Although,I hold some of my Gold in 1/2s and 1/10ths for "spending." Diversify your AU if all you have is 1 oz bullion.AG ,I would use 1 oz bullion and 90%.
I personally believe the current PM prices are being driven by TPTB to suck it out of the system BEFORE this event occurs, forcing us to use what ever currency they make.