Quizzes & Puzzles31 mins ago
Our Last Forty Eight Hours
38 Answers
On Thursday, if the US Govt doesn't secure an increase in its debt ceiling, the US will formally default on it's debts.
US Govt bonds will become redeemable.
In theory, all holders of bonds could ask for immediate payment.
If nobody does ... that's fine.
If anyone at all does ... like a couple of Tiger Economy bond holders ... the US can't pay them, and the US will be technically bankrupt.
There will be a rush on cashing US bonds, and they will essentially become worthless.
Massive reserves of bonds held by European countries will become instantly worthless.
The western world will be plunged into the fastest, and deepest, downwards recessionary spiral that we have ever seen.
The Great Depression will be nothing on Britain In 2013/14
So ... since, in forty eight hours, we might all be living in mud huts in a field, with no food or electricity, I wonder if we should say goodbye now, while we still have the Internet?
US Govt bonds will become redeemable.
In theory, all holders of bonds could ask for immediate payment.
If nobody does ... that's fine.
If anyone at all does ... like a couple of Tiger Economy bond holders ... the US can't pay them, and the US will be technically bankrupt.
There will be a rush on cashing US bonds, and they will essentially become worthless.
Massive reserves of bonds held by European countries will become instantly worthless.
The western world will be plunged into the fastest, and deepest, downwards recessionary spiral that we have ever seen.
The Great Depression will be nothing on Britain In 2013/14
So ... since, in forty eight hours, we might all be living in mud huts in a field, with no food or electricity, I wonder if we should say goodbye now, while we still have the Internet?
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