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To: Pogeu Mahone who wrote (162945)	11/8/2008 9:54:54 PM
From: Bank Holding Company	Read Replies (1) \| Respond to of 306849

national default day???

To: Pogeu Mahone who wrote (162945)	11/8/2008 10:36:05 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 306849

Again, debt can be discharged by default or debasement if you're a government (especially the one with the reserve currency). If yer willing to wreck the currency, the latter is an "option" (albeit a really bad one). The first is not an option for the government. We're not gonna agree on this, but watch what Clowngress tries to do. Look at what they did already! How well it works depends on how long our overlords stand aside while the game goes on. It's not fair, and it's not smart, but it's what they'll do (which is all that matters). They have to get rid of debt in nominal terms, not real terms. That's what you are ignoring.

To: Pogeu Mahone who wrote (162945)	11/9/2008 12:27:20 AM
From: Jim Fleming	Read Replies (1) \| Respond to of 306849

zeus628 re debt being defaulted away I agree, we are about to undergo a massive default on a major portion of outstanding world debt. The Credit Crunch is about to become the Default Debt Destruction Disaster. The printing press can't possibly keep up with the destruction of dollars and fiat in general that is taking place. Jim