Thanks Projack To clarify my posting of the Bloomberg article... It seems that now they are getting ready to shoot the messenger !
American Interest Expense Fiscal Year 2011: $412,517,504,466.06 + $80,000,000,000.00 in extra repayments due to downgrade.
(hands out the barf bags) Keep your arms and legs inside the carriage at all times. Good luck, all. Somewhere.... some poor bastard retired on Friday, and was going to sort out his Super tomorrow.
There are rules for US and their are different rules for "the rest of the world". Greenspan knows it better than anyone and his statement essentially rubs our noses in that fact.
It's only SPECIAL cos the rest of the world is too silly (or too scared) to see the real shell-game that they are abusing since the abolition of Bretton Woods agreement...
Well, they are different. They are the only country where the national debt is expressed in their national currency. Their problems are easily solved, inflate the debt away. And thats why we are buying gold.