But these individual petitions stand to collect untold signatures by starting an “I am Spartacus” mentality (see some of the supporters on Beck’s site listing their actual name and phone number). Huge numbers of signatures could trigger referendums in the petitioners’ states. Referendums in the petitioners’ states could tempt a few foreigners to dump US securities. Their dumping could prompt others to dump, and so on. No one wants to hold paper against debt backed by states loaded with people who go on public record as desiring to renege on it.
This little petition movement could kill the US dollar. Hyperinflation would follow, thus insuring mass secession.
On a likelihood scale of 1 to 10, it is about a 1.2. Not likely, to be sure, but reminiscent of the Star Wars scene where the underling says, “We’ve analyzed their attack, sir, and there is a danger.”
Especially dangerous would be for signatories to start signing these petitions for the express purpose of triggering a run on treasuries and killing the dollar.
And this just in:
TSA Asking About Secession Petition (vanity)
http://www.freerepublic.com/focus/f-news/2959211/posts
“This little petition movement could kill the US dollar. Hyperinflation would follow, thus insuring mass secession.”
Please give me a scenario where we do not wind up with hyperinflation.
With our official debt, (not the real one where it includes all of the SS funds etc that have been squandered) if every human being on Planet Earth wrote our feral Govt a check for about $2200, our bank account would be ZERO, for just a moment.
Then it would start back negative.