Steyn is being very generous when he says we have 2 years as the world’s currency reserve. It might take that long to implement it, but the decision to TRY has already been made by various players in the game.
I think he’s right, that the GOP leadership doesn’t “get it”. Sadly, the media seems immune to grasping the problem as well, which is amazing, because they would be some of the first to scream bloody murder at losing their wealth.
I suppose he would rather our elected officials just pull a Wisconsin. Throw up their hands, flee the capitol, and run around their districts with vulgar disgusting signs.
I’m beginning to wonder if we’ll soon have military coups in Western Democracies, in order to simply survive.
I think we’re the ones who don’t get it. The politicians know we’re screwed.
I will be amazed if the USD is still the currency reserve by December of this year.
Sometime between the end of June and the end of December, reserve currency status will be de-facto ended. The USD will then devalue by 80%.
Yes, 80%! This is because the debt-per-taxpayer on the current debt comes to about 24,000 a year. The highest conceivable level of personal taxation that can go into repaying that is ~ 10%, so the average wage must rise to 240,000 a year. Which is a ~ five fold increase from todays average wage of 45000 USD.
Do not be in (USD) cash after June 30th. If you are then at some point you will be wiped out.
Steyn is being very generous when he says we have 2 years as the world’s currency reserve. It might take that long to implement it, but the decision to TRY has already been made by various players in the game.
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We might have 2 years if we actually prosecute the banksters instead of digging our country deeper in their 40:1 leveraged debt crisis...
“Steyn is being very generous when he says we have 2 years as the world’s currency reserve. It might take that long to implement it, but the decision to TRY has already been made by various players in the game.”
You’re right. Once we are no longer the reserve currency, we will be forced to borrow money in other currencies, lake the Yawn. At that point, once the dollar drops in value, the debt shoots up...the dollar drops more...the debt shoots up further and it’s game over...default...hyperinflation.
If we were willing to jettison Social Security as an entitlement and instead make it a much-cheaper means-tested program we could probably prevent that outcome. Since I have kids, I support that...many on this site and I guess none of the Democrats have kids, so that’s not going happen.
Instead we’ll simply wipe out the country, and those PRECIOUS Social Security checks will still go bye-bye (or be worthless)...but what the hell, that outcome’s ok because EVERYONE gets thrown into the gutter.