This morning's BBC World News snippet is quite revealing.

Debt Repurcussion foreseen.

I suggest you might listen to it twice - especially the part about somebody volunteering. A good example is the protectionism and denial we find on Quatloos. Especially when they beg for a dose of the upcoming Reality. Sure! It gets ugly but you have to admit; Gregg walked right into that one:

Money that I provide part of by being a productive member of society and paying taxes to fund.
If you look at that snippet in context (linked) you might understand how Denial manifests as it starts waring thin. Gregg has been endorsing private credit and now, just this morning he will be faced with that snippet from the BBC World News, that it is quite possible that Governments will not be responsible - in fact - that is what DEFAULT means in essence. So who is left holding the note (signature bond) when the Government Defaults?



Kudos to this suitor! He is getting thousands of dollars of his own money (withholdings) back into his pocket while reducing the national debt.


He is unvolunteering beforehand too. If the US Government defaults then like Rubin said fifteen years ago, China the the other 3/4 owners of America will be looking at those signing bond (oath of office as the Fed banks/endorsement of private credit from the Fed) for Setoff.

The essence of the political religion - Constitutional Republic - is that oaths of office are fungible fidelity bonds. - David Merrill.