A bankruptcy proceeding cannot continue forever. At some point, either the creditors convert their debt to equity or a liquidation occurs.
A conversion from debt to equity would involve a repeal of the Federal Reserve Act and a repeal of the 16th amendment. That isn't going to happen. That is the hope of Ron Paul's campaign supporters. If the creditor decides to convert his debt to equity, he will allow Ron Paul to be elected President and pass his reforms.
The purpose of Ron Paul's presidential campaign is not to convert the debt to equity. The purpose is to announce the liquidation. When
Ron Paul is cheated out of the Republican nomination, it will be obvious to everyone that it is time for a liquidation. (Maybe not everyone, just those people who are smart enough to count for anything.)
The creditors of the US bankruptcy proceeding have decided that they prefer a liquidation over equity in the US government. Pretty soon, the US government is going to be denied bankruptcy protection. All world governments have declared bankruptcy and surrendered to the international banking cartel. All world governments are going to be liquidated, not just the US government.
I believe that
the Supreme Leader of Humanity and the leaders of the international banking cartel have decided that it is time for the final liquidation of this bankruptcy proceeding. They are intentionally allowing
the coming agorist revolution to occur, so the US government can finally be liquidated. They will allow the current system to survive until the replacement system is in place. An agorist revolution should be mostly peaceful, so there probably won't be a lot of casualties during the transition. The violence will come from red market agents resisting the liquidation.