[GOPJ]

And if a colossal worldwide deleveraging spreads to Treasury debt owned by foreigners, the situation will be deadly serious.

Travis - if foreigners who own are debt get scared - we'll have to raise the rates. Won't that the start of hyper inflation?

[Travis McGee]

You bet. Argentina here we come, on the way to Zimbabwe.

But first we’ll have months to maybe years of deflation.