Major Market Crash if Debt Default Not Resolved

Debt default will not happen. Default would reek havoc on EVERYONE They use this ploy every time.

 

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Well, if it plays out enough times eventually it will happen. You have a lot of faith in the players involved today. With a handshake and the stroke of a pen they can create money out of thin air again. I guess that equals "crisis averted"?

If it does happen will someone trade me their classic head large cent for a little food? Preferably AU to MS. I'll throw in a silver bar.

In all seriousness I don't know what anybody can do about it. Will you be happy if you sell the collection today and be holding the cash that was defaulted on? What will it buy at that point? If it gets desperate, anything that doesn't sustain or protect life will be worthless be it the cash or the coins. The wealthy will be determined by who has the most food and supplies stored.

 

We see this sort of thing all time nowadays. It always gets resolved, even at the last minute. Life goes on and the US goes into more debt.

 

Eventually the math doesn't work though. Maybe not today, maybe not tomorrow, but eventually. Hopefully they can create new math along the way too. They bring a finite amount of money in and what's going out keeps increasing. One side wants to cut 1% from the budget as a starting point and the other side is calling that too radical to pass. They will inflate forever until it absolutely cannot work anymore and then they'll hop on private jets out of here once the math stops working.
Right now they cannot pass a spending bill in the amount that worked 5 months ago. It can't be capped, it has to be more.

 

People are scared and when scared not buying coins with money they will need for food.

 

Gotta agree, gold will definitely pump up like crazy! Still I think that would be the only good thing to happen if there's a default!

 

I’ll save you a spot in the free cheese line

 

another last minute deal. I do like the 1% cut for starters.

 

Oh, I'll take a swing at it.

None of the current crop of legislators/executives/judiciary have eaten any of my children.

Yet.

 

Have you let them get close?

 

WSJ opinion on the default issue
https://www.wsj.com/articles/what-t...t-constitution-78b24824?mod=opinion_lead_pos1

 

I don't have a subscription to the WSJ.

 

and this is a surprise how? come on we are talking about the real world here where things never go according to plan like we want it will be settled but on terms that most will not like

 

Can you imagine what coin bidders/buyers will have to endure if coin prices did suddenly collapse? As it is, reading lot descriptions is like enduring some Keats poem about how "exquisitely exquisite everything exquisitely is."

 

Sorry. It's an Opinion article based on the 14th Amendment explaining that US Treasury monthly cash receipts is significantly greater than monthly out flows required for debt service. The 14th Amendment requires prioritizing paying debt service over all other government expenditures. With the remaining funds available for running the Government.

 

They are not paying off the principle on a net basis. They are only rolling over the mature bonds into new issues.