The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: NOW who wrote (20579)	5/27/2009 3:17:27 PM
From: gregor_us	4 Recommendations Read Replies (4) of 71475

Of course Long Bonds look great. They've been in a bull market for 27+ years. Which just ended, btw. But it was indeed an amazing quarter century run. Some of my stuff: SAVING HUGH HENDRY: How the Coming Bear Market in Global Sovereign Debt Will Drive Capital Back into Real Assets gregor.us Paths to Repudiation: gregor.us My view is that the US is essentially defaulting on its sovereign debt, via monetization and a final blow-off of issuance that is certainly in bad faith in the sense that not only can it never be paid off now, but it's clear that it cannot be paid off. How do I define that? As follows: there is no realistic model for US GDP that would allow us to pay off our debt now, as the interest will now overtake any such counterthrust. It's over. It's only a question of inflation, or rescheduling at this point. I regard every Treasury in existence as being worth precisely zero. Best, G

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