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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: Gersh Avery who wrote (52395)	7/7/2011 1:14:20 AM
From: Wayners	1 Recommendation Read Replies (1) \| Respond to of 103300

Those bonds aren't negotiable or traded, so there is no way to put any value on them. They are worth whatever the Govt says they are worth. Also, no worker, by law, can claim any right directly to those bonds. The SS bonds are not interest paying. They sit in filing cabinets in West Virginia. If SS and MC recipients don't receive checks, that isn't a default on debt as rating agencies view things. Yeah I think it's a default, but it's not. It's a spending cut. If coupon payments on bonds, bills and notes aren't paid, that's a default in everybody's eyes. We've defaulted many many times before. Don't be deceived by the lie that they have never defaulted before.