[101voodoo]

It is not even close to being the same as an outright default. Currency weakens and strengthens, defaut is the end game and not reversable.

[Yet_Again]

It is not even close to being the same as an outright default. Currency weakens and strengthens, defaut is the end game and not reversable.

Sort of like the difference between smoking and drinking heavily for 40 years and putting a bullet through your head I suppose. At some point, devaluation is irreversible, as the "full faith and credit of the United States government" has no meaning.