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Author Topic:   United States Debt Default
frako
Member
Posts: 2932
From: slovenija
Joined: 09-04-2010


Message 12 of 211 (624081)
07-15-2011 6:47 PM
Reply to: Message 1 by Straggler
07-15-2011 3:38 PM


Is the United States going to default on it's debt and plunge the global financial system into a crisis of never-seen-before proportions?

Not necessarily only the ones that lent you the money The rest of the world would feel the collapse but not as badly as most think.

Why this has come to a head now?

You have been borrowing more then you should now your screwed it could be managed but it will get worse if you just raise the sealing and go on like nothing is happening.

What is likely to happen?

Your money in the bank forget about it its gone, the same thing happened in Iceland people wanted to get some cash from their accounts banks said no.

What could happen (worst case but reasonably possible scenario)?

Countries that want their money back get nuked by the US, people in the US get fucked big time 3d world country big time

What are the consequences?

The people that lent the US money will want it back and just about everything the government owns can be lost to foreigners to pay off that debt.

Who can we blame?

Yourself for not stepping on your governments feet when the time was right.

Edited by frako, : No reason given.


This message is a reply to:
 Message 1 by Straggler, posted 07-15-2011 3:38 PM Straggler has not replied

Replies to this message:
 Message 18 by Jon, posted 07-15-2011 10:57 PM frako has not replied

  
frako
Member
Posts: 2932
From: slovenija
Joined: 09-04-2010


Message 35 of 211 (624319)
07-17-2011 8:05 AM
Reply to: Message 34 by Nuggin
07-17-2011 2:17 AM


Re: Credit Ratings Agencies
These are people who literally can't tell if their income ($50,000 a year) is MORE or LESS than someone making $25 million a year.

I know American education is bad but is it really that bad A first grade student a child of 6-7 could anwser that correctly.


This message is a reply to:
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Replies to this message:
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frako
Member
Posts: 2932
From: slovenija
Joined: 09-04-2010


Message 147 of 211 (626114)
07-27-2011 8:36 AM
Reply to: Message 140 by New Cat's Eye
07-26-2011 8:28 PM


Re: By the Nose
If United States Notes are deemed to no longer be legal tendor, then they wouldn't suddenly become counterfeit.

When we switched from tolar to Euro at first all prices had to have the price in euro and tolar but locals couldent spend euros in shops then we could spend euros in shops but got tolars back, after that we could spend euros and tolars in shops but got euros back and after that you could not spend tolars in shops even though the price tags still had to have the price in both euro and tolar but you could and still can exchange tolars to euros at banks.

So if the dollar where to be switched for a noter typ of currency the same thing would probably happen.

Though you Americans do have a funny law that allows shops to take any kind of currency if they so desire. That might provide some problems


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 Message 140 by New Cat's Eye, posted 07-26-2011 8:28 PM New Cat's Eye has seen this message but not replied

Replies to this message:
 Message 152 by Dr Adequate, posted 07-27-2011 6:55 PM frako has replied

  
frako
Member
Posts: 2932
From: slovenija
Joined: 09-04-2010


Message 153 of 211 (626218)
07-27-2011 7:03 PM
Reply to: Message 152 by Dr Adequate
07-27-2011 6:55 PM


Re: By the Nose
That's not funny, that's normal. Surely you could do that too --- if you want, you can let someone settle their debts with you in rubles or gold or chickens. If not, why not?

I wonder how you deduct the tax from chickens???

I think the law we have that only certien currency can be used in shops and simmilar places still comes from yugoslavia where too many german marks where "imported" to the country causing some problems forgot the details of what exsactly was going on.

It is still funny though technically a shopkeeper in your country can legally accept monopoly money for goods i wonder how that would show up on a tax report.

p.s.

Well usualy when a debter cant pay his debt you take something of value like a house or a car to settle the debt you could take a few chickens and settle the debt that way sure but i just dosent happen stuff like that usualy gets auctioned off and the money goes into the pocket of the guy who owns the chicken owners debt.

Edited by frako, : No reason given.


This message is a reply to:
 Message 152 by Dr Adequate, posted 07-27-2011 6:55 PM Dr Adequate has not replied

  
frako
Member
Posts: 2932
From: slovenija
Joined: 09-04-2010


Message 174 of 211 (626362)
07-28-2011 6:56 PM


America worry not your problems are going to be solved by the prayer meeting organized by the Texsas govenor

http://www.examiner.com/...yer-will-solve-america-s-problems


  
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