reply to post by Goedhardt
The only reason that there might be any effect on the rest of the planet, is because some singularly witless morons, whose job is to move money
around the planet, will immediately feel their gonads retract into their abdomens, run home to their mothers house, and curl up in their mothers laps,
crying and sucking their thumbs. By that I mean, that the only reason this sort of nonsense is allowed to affect anything outside the nation in which
it occurs, is that markets are run by sissies, traitors and cowards at best, and at worst megalomaniacs, which usually amounts to the same thing.
Essentially what happens is this...
The US defaults, and an awful lot of people cannot get what is owed to them by any bond or share which relies on the dollar to underwrite its value,
which is all of them pretty much. Rather than actually doing some real work for a change, city suits will instead allow those bonds and shares to
become valueless, rather than trying to scramble together an alternative, a bolster. Personally, I think that the best idea would be to swap
immediately to a system based on the next most solid and valuable currency, but because that requires effort, and the agreement of whichever nations
currency is next largest and most powerful, this would likely take some forethought, some finesse, some skill and above all, massive balls, to pull
off. And that is why it is not going to happen.
Instead of actually acting now, the markets will doggedly allow themselves to spin apart like a helicopter suffering a terminal rotor failure, and
they will all throw up their hands and declare to anyone who will listen, that there is nothing they could have done that would not have required
everyone on the planet to start paying forty percent more for everything for the next ten years, or some similar idiocy. Bloody convenient if you ask
me, since of course, the only people who will be able to save any of their money in these times, will be those who have a modicum of insider
knowledge, and since there will be absolute CHAOS in banking and finance in general, its unlikely that the small trades will be all that closely
monitored, because everyone involved in money moving will essentially have their head between their knees so that when the crap storm hits, they can
later be identified by their dental records.
You can also bet that the governments of the world powers will be doing largely the same thing, shouting from balconies to the raging mobs in the
street "I did not loose your money, and you aren't getting any of it back, so go back to work on your empty bellies, oh, and vote incumbent in the
No one will act to prevent this once it is in motion, no one will offer the common man any help to cope with the crippling price hikes of every
little thing, and no one will allow themselves to be held responsible.
What is above is a rough outline of what I think will happen. Below is my opinion.
The US government, all of it, not JUST Obama, or JUST the Republicans who refused to accept nationalised healthcare planning, despite it being fairer
largely speaking than leaving the poor to die, need to be dragged into a public place, and summarily slaughtered if this goes down badly. Not just
because they are traitors to their own people, each and every one of them (which they surely are), but because they will have allowed their petty
differences to ruin entire CONTINENTS!