Imagining worst-case scenario if United States comes close to default- Slate.com

[PatColo]

The Great Global Freakout of 2011 (http://www.slate.com/id/2291836/)

Imagining the worst-case scenario if the United States even comes close to defaulting on its debt.
By Annie LowreyPosted Thursday, April 21, 2011, at 6:00 PM ET



read it at the link if you must, just posting coz, besides no mention of gold/silver, there's this priceless line,


[...] Financial firms also quietly started converting investments into cash, seeking the absolute and unconditional safety that only dollars provide. [...]


:ROFL:

[sirgonzo420]

The Great Global Freakout of 2011 (http://www.slate.com/id/2291836/)

Imagining the worst-case scenario if the United States even comes close to defaulting on its debt.
By Annie LowreyPosted Thursday, April 21, 2011, at 6:00 PM ET



read it at the link if you must, just posting coz, besides no mention of gold/silver, there's this priceless line,


[...] Financial firms also quietly started converting investments into cash, seeking the absolute and unconditional safety that only dollars provide. [...]


:ROFL:




I agree.

This is a dollar:

http://www.coinfacts.com/silver_dollars/morgan_dollars/1921_morgan_dollars/1921_morgan_dollar_chapman_obv.jpg

This is NOT:

http://www.fitnfreejt.org/one_dollor_files/image003.jpg

[Cobalt]

The Great Global Freakout of 2011 (http://www.slate.com/id/2291836/)

Imagining the worst-case scenario if the United States even comes close to defaulting on its debt.
By Annie LowreyPosted Thursday, April 21, 2011, at 6:00 PM ET



read it at the link if you must, just posting coz, besides no mention of gold/silver, there's this priceless line,


[...] Financial firms also quietly started converting investments into cash, seeking the absolute and unconditional safety that only dollars provide. [...]


:ROFL:




I agree.

This is a dollar:

http://www.coinfacts.com/silver_dollars/morgan_dollars/1921_morgan_dollars/1921_morgan_dollar_chapman_obv.jpg

This is NOT:

http://www.fitnfreejt.org/one_dollor_files/image003.jpg





Yeah but the bottom one clearly says Dollar on it :oo-->


Maybe they need to change the denomination to Charmin so people are no longer confused with the bait and switch tactic :ROFL:

[Horn]

Don't forget to checkout

[DMac]

Yeah but the bottom one clearly says Dollar on it :oo-->



http://www.coinlink.com/CoinGuide/images/ust_108.jpg

[Cobalt]

Yeah but the bottom one clearly says Dollar on it :oo-->



http://www.coinlink.com/CoinGuide/images/ust_108.jpg


Yeah but the toilet paper one says "Dollar" on both sides :D

http://www.qsl.net/w5www/dollarbill.jpg

[DMac]

You got me there Cobalt :)

[Son of Dave]

If the world starts dumping trillions of treasuries who starts buying them? Bill Gross and the FED?

Hey wait a second?!

[Neuro]

The Great Global Freakout of 2011 (http://www.slate.com/id/2291836/)

Imagining the worst-case scenario if the United States even comes close to defaulting on its debt.
By Annie LowreyPosted Thursday, April 21, 2011, at 6:00 PM ET



read it at the link if you must, just posting coz, besides no mention of gold/silver, there's this priceless line,


[...] Financial firms also quietly started converting investments into cash, seeking the absolute and unconditional safety that only dollars provide.
[...]


:ROFL:




I agree.

This is a dollar:

http://www.coinfacts.com/silver_dollars/morgan_dollars/1921_morgan_dollars/1921_morgan_dollar_chapman_obv.jpg

This is NOT:
http://www.fitnfreejt.org/one_dollor_files/image003.jpg




Yeah but the bottom one clearly says Dollar on it :oo-->


Maybe they need to change the denomination to Charmin so people are no longer confused with the bait and switch tactic :ROFL:
A paper promise of Charmin? ;D

[Neuro]

Anyway, by the end of the summer, it will be perceived that the US is about to default on it's debt, the hard way... Of course the FED hasn't stopped buying US debt, they can't, instead foreign central banks will buy US debt with USD the FED swapped them for GBP, Euro's and Yen's which they buy their debt for, but they will let interest rates rise, stock markets to crash for lack of liquidity. This will give the impression that the US is about to default, and everyone will be screaming in chorus for QE3, FED will give in after wrestling ultimate control and oversight of the financial markets, and the soft default will continue, in a couple of years we have global hyperinflation...

[gunDriller]

Yeah but the bottom one clearly says Dollar on it :oo-->

if you get a paper cut on your butt, who do you sue ? 8)

[SilverMagnet]

Anyway, by the end of the summer, it will be perceived that the US is about to default on it's debt, the hard way... Of course the FED hasn't stopped buying US debt, they can't, instead foreign central banks will buy US debt with USD the FED swapped them for GBP, Euro's and Yen's which they buy their debt for, but they will let interest rates rise, stock markets to crash for lack of liquidity. This will give the impression that the US is about to default, and everyone will be screaming in chorus for QE3, FED will give in after wrestling ultimate control and oversight of the financial markets, and the soft default will continue, in a couple of years we have global hyperinflation...



Agreed. And after Hyperinflation sets in, we can count on the problem-reaction-solution phase to occur which will introduce the new global digital currency. Atleast with dollars you can wipe your ass with them and make a campfire. With digits and plastic you don't even get that.