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
4 comments:
I don't know much economics, but can a country really go into default? All you have to do is turn the printing press. Please don't tell me I bought gold for nothing.
Josh -
If this were to take place all gold and silver bullion would go light speed into heights never seen before. Per Jim Sinclair, gold is the true currency! You might want to stock up on a little food and water though. Just until the supplies get to flowing again.
The addition of THINGS YOU NEED to your "PORTFOLIO" is of utmost importance.
Water
Food
Energy
and again in that order
I've got 35,000 gallons of water in my pool. Anyone know how to make that drinkable?
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