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reply to post by Wrabbit2000
I'll answer your question on this. I don't care if I die. It'd prefer not to, but if it is my time I am not worried about it nor do I care if it happens. We all die and being worried about it is irrelevant. I do however want to see our country restored to its former glory. The path we are on right now won't take us there. It is only after much hardship through default will we be able to start digging ourselves out of this hole. Maybe it comes from being a veteran and having served for my country, but I am ready to die for it to see it prosper again.edit on 16-10-2013 by Krazysh0t because: (no reason given)
Now think of the United States in a similar situation. President Obama can't fly Air Force One to a summit meeting for fear that a bill collector will take the keys. The carrier Enterprise gets detained at Okinawa. The family car of a low-level consular official gets pulled over and impounded in Beijing. The Obamas' checking account gets attached by a hedge fund.
This may sound far-fetched, and the international debt experts I've consulted say it is far-fetched. But the U.S. government itself has said that some U.S. court rulings against Argentina — such as those allowing creditors to seize Argentine property here — could backfire against the U.S. The State Department and Treasury said in a brief last April that they're concerned that the rulings could encourage foreign courts to "issue like orders against the United States and its property abroad." That would undermine the principle of sovereign immunity that protects U.S. diplomatic personnel, embassies and military assets overseas.
Experts in international finance say a U.S. bond default, even if "technical" and even if it lasts a day, puts us in uncharted territory. After all, Argentina also thought all the existing consequences of its post-default settlement were far-fetched. Its settlement, which involved trading its defaulted bonds for new ones on which it has kept up payments, was drawn from the standard textbooks on Third World default settlements.