Complete wipeout of all debt!?

No I meant go to war. That's one of the US's option. Ongoing financial and social repression, hyperinflation or war are the typical consequences of defaulting while still running deficits.

 

Mortgage debt being wiped would suck.People would learn nothing except to expect their debts to be wiped in the future.Those that pay down debt and be responsible kind of get the short end of the stick.That said I doubt very much ordinary folk would get their debts wiped, only the big guys. And that being said, I dont think any debt will be wiped, just inflated away.

 

Bix you have a day left according to your September time frame.

Time to hit the button fella (-;

 

At some point someone has to say enough is enough. The problem is the baddest and biggest boys in town, are also the sheriffs and the dominant superpower. It will not happen until they say so. Even a coalition, it would take China, Japan (prob agree), Germany, Britain, India, Australia (easy yes) and all of the Euro just to have enough say to front them without causing sanctions. The US need the world to support them as well.

Will it happen, Yes, when ? no turtle idea !

 

The Bank of Cyprus seems to have successfully wiped out their debt to their account holders.... (Who, like us here in Australia and NZ did not realise that legally now once you put your money into a bank it becomes the property of that bank, you no longer own that money and you are in fact merely a relatively unsecured creditor of said bank).

If you have $5000.00 cash in your hand you own $5000.00 cash. If you deposit that cash into your bank account you immediately lose your $5000.00, it is no longer legally yours. You just have to trust that when the time comes to try to claim funds from the bank as a creditor the bank is willing or able to pay you that amount in cash, in which case you once again are worth $5000.00. (or at least you have a pile of sheets of plastic with drawings of dead people on them to the agreed value of $5000.00).

 

EU recently made "law" that people's money would be loose in 3rd and last step, and firstly all people who have 100k or more. In US they confiscated all gold several years ago so I guess the best thing is to have less property or it's that hidden...

 

According to Martin Armstrong....the U.S. government is seriously looking at the 17 trillion in pension funds as a way to clear the foreign debt....its been done before in other countries and it sounds like it is being seriously considered behind closed doors in the U.S.

 

Can you post a link, if available? Thanks

 

sent in this mouse to chew on the bond paper :lol:

 

Not the smackdown button! The reset button!

 

http://armstrongeconomics.com/armstrong_economics_blog/

do it very soon because that page is currently on display but will disappear as he puts more info up.....it is very enlightening stuff....you will find a lot of his historical writings easy enough..welll worth the time and the effort to read....very few analysts understand capital flows like armstrong.