Seems to me they will print their way out of it. No other option. Expect 15% intrest rates and 20% inflation. Just like Carter. They will have to jigger the cola for social security and other intrest sensative payouts. But that will be easy for them.
What you are seeing is the longer-term endgame for the dollar. Mises predicted it, Geithner confirmed it a few months ago at the CFR.
Like the old cliche, “it’s not if, but when.”
Gold
Sorry, the thread has gone for 7 posts and nobody has said it.
THo I wouldn't be sorry to have some of the metal right now.