The US Government has (nearly) Defaulted on the National Debt!

[David Merrill]

This Final Letter may be helpful!

[Michael Joseph]

This Final Letter may be helpful!

Recall gold/silver from the US Citizens is another measure; seizing the 401k accounts is another asset.

A rock star is nothing absent fans. Do you trust in the State?

[Frederick Burrell]

Fab five forge currency alliance

(From left) Prime Minister Manmohan Singh, Russian President Dmitry Medvedev with his counterparts Hu Jintao of China, Dilma Rousseff of Brazil and Jacob Zuma of South Africa in Sanya on Thursday. (Reuters)
Sanya (China), April 14 (Agencies): India, China, Russia, Brazil and South Africa today signed an agreement that would enable them to provide credit to each other in local currencies and collaborate in capital markets and other financial services.

The agreement was signed by the designated banks of the five countries at a summit of Brazil, Russia, India, China and South Africa (Brics) here, which was attended by Prime Minister Manmohan Singh.

http://www.telegraphindia.com/111041...y_13856760.jsp

Looks like this is just one more nail in the coffin for the dollar. rken

[David Merrill]

Indeed;


I believe you are correct. China sounds in the lead. South Africa was added just the other day so it looks like they are trying for a global effect continentally. Albeit I note a small country in Europe has been marked as joined.

I believe we are viewing a map of what you are speaking of. Traditionally SDRs are a fictional basket of five currencies. Listening to yesterday's BBC World News the narrator wonders why BRIC added South Africa, to become BRICS.

It certainly looks like a logical preparation for the Default - happening as we speak in my opinion - April 15th plus a default of three days - Emancipation Day in DC (Filing Due on the 18th); and supplemented by notice and grace of 30 days (May 16th).

Of course if Congress defaults on America's obligations/bonds, that in itself is the US Dollar becoming a relic of world history.


Regards,

David Merrill.

[stoneFree]

Technically, I don't think the US has defaulted yet. Saw this yesterday; it seems the national debt subject to the ceiling is still marginally below the $14.294 trillion cap. But not for long:

http://www.zerohedge.com/article/tre...xt-week-can-it

[David Merrill]

Technically, I don't think the US has defaulted yet. Saw this yesterday; it seems the national debt subject to the ceiling is still marginally below the $14.294 trillion cap. But not for long:

http://www.zerohedge.com/article/tre...xt-week-can-it

Thanks! You are right. I will go through the trouble of correcting that in the title.

[stoneFree]

".. crunch time for the Treasury is approaching as the first of three auctions is on deck: the first one for $32 billion in 3 Year Notes. The total raised will be $72 billion without any offsets from maturities. Elsewhere, the Treasury will catch a $16 billion break after it settles $100 billion in Bill maturities offset by $84 billion in new issuance, yet still the net total of $56 billion in new debt seems to be a slight problem since as of Friday, there was just $23 billion in total capacity under the debt ceiling."

http://www.zerohedge.com/article/tre...e-without-tril