The federal government could default on its debt as soon as July, a new forecast from the Bipartisan Policy Center warns, raising pressure on Congress for action.
The prominent think tank forecast Monday that the so-called “X-Date” would likely arrive between mid-July and early October.
I think it’s very possible. And I think orangeboi will threaten the people doing the ratings in various nonsensical ways. And when the default does happen, the world will probably begin to move away from the USD standard, which is probably good for the world in the long term.
Nah. Too many rich cunts afraid to lose their stolen goods to let that happen.
Dude, they’ll just shift their assets into GBP or Euro. The UK will probably offer tax incentives and sweetheart deals, because being the world reserve currency actually gives you shitloads of soft power (so long as you don’t plot a flight plan into a mountain, which is what we’re doing right now).
You can not simply “shift” billions of dollars from one currency to another.
As much as the rich people with billions want to get rid of the USD, the people willing to give GBP or Euro for USD don’t have to accept. Why would they want to be holding on to the USD if the others don’t?
They could be slowly doing it right now, but if the shit hits the fan, the exchange rate would jump.
Yeah- lots of things would “jump” it would be a catastrophic process. That’s my entire point. Lots of people would stand to lose a lot of money, but those who have inside knowledge stand to be able to save a large fraction of their wealth, while everyone else becomes a serf, because all of their investment and savings will be worth jack shit. And I think that’s one of the points of this whole circus.
All of those currencies will fall before USD.
USD is king. It has to stay that way otherwise they lose everything. It won’t happen.
I genuinely do not understand what the hell you’re talking about, and I’m American.