Four must-reads re the ongoing Collapse:
Buckler: The Great Deflation
Weiss: Citigroup Collapses Banking Shutdown Possible
Sinclair: What Must Be Done To Avoid Fiancial Destruction
Sinclair: 30 Reasons for the 2nd Great Depression
Relevance?
1) What do you need to do to maximize your chances, and how much more time do you think you have?
2) How will a central-planning Marxist/socialist government handle what happens when the rest of the world tells the US that they will not buy their Treasury notes, at least at the price and rates offered?
Tempus fugit.
Reading the first article alone is enough to make me lose whatever hair I've got left. I suppose that's a good thing - I'll save money on haircuts.
ReplyDeleteSeriously, if the US Treasury defaults then I believe that there will be a "bank holiday" of at least a couple of weeks duration. During that time, none of us will be able to get cash from the bank or ATM, and the use of our debit cards will be impossible. I'm not so sure what'll happen with credit cards. IOW, the production of goods and the provision of services will shut down...though we'll all still need to eat. This would seem to make cash in the mattress a necessity.
I would really, really like to be wrong about this - any bites?