US Gvt to default on debt on/before summer 2009
GEAB N°28, 16 Oct: Global systemic crisis Alert - Summer 2009: The US government defaults on its debt.
Our researchers anticipate that, before next summer 2009, the US government will default and be prevented to pay back its creditors (holders of US Treasury Bonds, of Fanny Mae and Freddy Mac shares, etc.). Of course such a bankruptcy will provoke some very negative outcome for all USD-denominated asset holders. According to our team, the period that will then begin should be conducive to the setting up of a « new Dollar » to remedy the problem of default and of induced massive capital drain from the US.
Summer 2009: The US government defaults on its debt