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View Full Version : What would happen if the United States went bankrupt?




fletcher
09-06-2007, 11:14 AM
What would happen if the United States went bankrupt?

constituent
09-06-2007, 11:25 AM
f* it.

fsk
09-06-2007, 12:49 PM
Where have you been? The USA declared bankruptcy in 1933, when President Roosevelt defaulted on the dollar and demanded that US citizens turn over their gold for worthless paper.

Johnnybags
09-06-2007, 01:02 PM
Bernanke airlifted 30 some odd billion more today to Wall St on a 747. Although the Treasury is bankrupt they can extract buying power from John Q Public for a tad bit thru inflation. So look at sharply rising prices as a new tax, brought to you by the depleted Treasury. Why waste time filing IRS forms, just print what you need and make Wal-Mart widgets go up 25 percent. Its a fairtax comsumption tax without limits, Huckabee has no clue, it already exists under the control of the FEDERAL RESERVE.

ARealConservative
09-06-2007, 01:19 PM
Where have you been? The USA declared bankruptcy in 1933, when President Roosevelt defaulted on the dollar and demanded that US citizens turn over their gold for worthless paper.

We didn't default on foreign held notes until 1971 though.

susano
09-06-2007, 01:29 PM
Bernanke airlifted 30 some odd billion more today to Wall St on a 747. Although the Treasury is bankrupt they can extract buying power from John Q Public for a tad bit thru inflation. So look at sharply rising prices as a new tax, brought to you by the depleted Treasury. Why waste time filing IRS forms, just print what you need and make Wal-Mart widgets go up 25 percent. Its a fairtax comsumption tax without limits, Huckabee has no clue, it already exists under the control of the FEDERAL RESERVE.


Gotta link on this?

Johnnybags
09-06-2007, 01:34 PM
temporary market operations.

fsk
09-06-2007, 02:48 PM
We didn't default on foreign held notes until 1971 though.

That's not exactly true either. After confiscating the gold, Roosevelt devalued the dollar from $20/ounce to $35/ounce. All the debt holders got shafted.