[scbison]

When do you think this will happen... Later this year or sometime in 2012?

[PSYCHO-FREEP]

This could very well happen by the middle of this year. The National Debt limit will be reached way ahead of schedule. Probably this month. It will be then that CONgress will have to vote to increase it.

The effects of REAL inflation, the kind that the FED has dropped in order to keep their lying inflation statistics low, (Gas, food, clothing, interest on the National Debt, etc,) will increase the rate at which the National Debt increases, which will force them to create even more phony money.

This all leads to the other countries in the World who have financed our debt in the past. They will drop us like a hot rock and demand a new Reserve currency, because just possessing Dollars will cause them to lose money.

In short, some of the economic advisers I watch, all believe that there is not much chance of Burn-yank-me and Geithner, wagging the dog all the way up to 2012. Something has to give before that.