Major Market Crash if Debt Default Not Resolved

Yes - but only the debt principle that is currently due. Keep in mind any debt principle that is paid creates additional room under the debt ceiling equal to the amount of principle paid to issue new debt.

 

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Really? Can you direct me to Constitution Language or Legislative or Judicial Branch action that supports the precedence of debt servicing and debt availability as a Line Item, by category? Heck, I will even accept an IRS Finding.

 

Congress will do whatever they want to do, right or wrong.

 

I was referring to the Mr. Farmer Post. Mr. Framer is shadow boxing and presented an odd commentary to your Post, that has no relation to your comments. He is presenting a Rule of 76's of sorts, and you are presenting the soundness of debt, that being IT IS DEBT!

But, since you presented the possibility of an interpretation of an expenditure allowance/denial, there was never ever never in the history of humans, a method more finite than death.. So.....

 

Likely? The dollar will start a downward spiral. If we default, most of the counties that are holding dollars as a reserve are going to start dumping them, and there's trillions out there. Think post ww1 Germany or Zimbabwe.

 

What? A political ( Yes it is) discussion ? Remember - No flags!!

 

Did you even read the background? Which is as follows

Justafarmer - Post #33
WSJ opinion on the default issue
https://www.wsj.com/articles/what-t...t-constitution-78b24824?mod=opinion_lead_pos1

Toughcoins Post #35
Paywall . . .
Justafarmer - Post #38
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.

 

Yeah......no. Just...no.

"Who threw the bullet in the fire" is the thrust of your "opinion" without any factual foundation except.....an opinion.

Try 1L Con Law, to assist you in the future.

 

No.

 

That was a slow Pitch. it took from Sat. until today to get here.....

 

I feel the entire thread is political on the borderline. It’s teetering on the fence but I also don’t feel it’s been crossed but that’s just my opinion.

 

I didn't know that if I stopped buying for a couple of months that panic would set in. I didn't believe I spent that much, now I am wondering if my wife could possibly be a smidgen of right........surely not.

 

Ouch! I’ll never tell.

 

If you fear your money will lose value, buy something with it. If you believe your money will gain value, buy something with it. In the end, you will be ahead either way.

 

There aren't many other currencies that would be stable either or trustworthy-so it is not a certainty that the dollar would spiral as much as some believe.

 

Will USA generics retreat? Do you see them as the canary in the cage? Don’t know. Definitely people will be tightening spending on coins. Robert (Cali dealer friend) has reduced his buy offers to bourse room attendees from 10pct back of bid to 20 pct behind bid.

I think nice Type and CC material will fare better (loss potential) than if there a major generic drop. But everybody knows - bigger ticket invested in - the harder they can fall.

 

Generics have never been at the top of the list, unless they were made of gold and the price of bullion went way up. So far as collectors' items are concerned, I think that they will take a hit.

 

If anyone takes a hit it will be all those that bought that overpriced stuff from the US Mint.

 

Yes, I will keep my Proof set run going, and I would like to get the Proof Peace Dollar. The trouble is the mint has got this subscription thing going. You might not be able to buy individual items from them any more. All of it goes to the saps who buy tons of stuff from them at their inflated prices.

More stuff goes to insider dealers who get the most popular items "out the back door" at discounted prices. Some things will be sold out before it's even offered to the public.

I just put the finishing touches on a Summer FUN exhibit that covers the 1936 Proof set. If the mint had issued Peace Dollars in 1936, the Proof Peace Dollar would have been part of the set. That coin would have been fun, but it would cost a fortune today if it had been made.