On Mar 17, 6:15=A0am, Lim Ericker <netp...@[EMAIL PROTECTED]
> wrote:
> In article <3MsDj.67847$us.36...@[EMAIL PROTECTED]
>, "Dan in
>
>
>
>
>
> Philly" <d...@[EMAIL PROTECTED]
> wrote:
> > "Flouride Water" <flouride.wa...@[EMAIL PROTECTED]
> wrote in
messa=
ge
> > ...
> > > It is not possible fo the USA to go bankrupt -- The USA can print
> > > unlimited amount of US Dollars!
>
> > But the US can't print yen, euro, etc.
> > For the US to go bankrupt, the following would have to happen:
> > 1. US banks, cor****ations, people all start borrowing in foreign
currenc=
y
> > 2. Much of those borrowing are spent on consumption, the rest are put
in=
to
> > overpriced investments.
> > 3. Those investments decline in value.
> > 4. The amount we owe to foreign creditors exceeds the value of our
inves=
ted
> > assets.
> > 5. Foreigners own the US
>
> > This could take a while. The value of US capital is around 50 trillion
> > dollars. Right now we borrow about 2,3 trillion from the rest of the
wor=
ld
> > (and have 1,2 trillion invested in ROW). It could take a long time for
o=
ur
> > borrowing to exceed our wealth.
>
> > Dan in Philly
>
> ------------------------------------------------------------------
> so tell us, Dan in Philly -- IF the U.S. did, in your worst case
> scenario, become "bankrupt" and be unable or unwilling to pay its
> obligations, =A0WHO would =A0become the Receiver and "force" the U.S. to
> pay?
No one can force us to pay as we have the biggest guns. As our
Congressmen have said:
Might makes right. We have the might. We have the right.
|
