Replies to post #66162 on Politics and Money

[shermann7]

We potentially have many things coming to a head....

1. An accelerating devaluation of the dollar.
2. A U.S. Treasury Bond Bubble.
3. The unraveling of over 500 Billion dollars worth of derivatives contracts.
4. Being unable to sell enough U.S. treasuries to fund our debt (except to the Federal Reserve, of course)

The Fiscal cliff argument is truly a distraction in those terms. Eliminate the debt ceiling??? Giving the congressional authority to the President for raising the debt ceiling??? The constitution is the law of the land, and there are legal ways to change it.

Shermann