RE: RE: Obama and the RepublicansIt doesn't take a rocket scientist to figure out how the US figures how to keep it going. The US$ is the world's "reserve currency" that was supposed to be backed by gold under the Bretton Woods Agreement. In 1971, Nixon unlitaterally pulled the gold backed requirement and since then, the US has printed into oblivion and will continuing to do so until the rest of the world finally says no more. The US financial situation is more precarious that that of Greece in my humble opinion. However, the US cannot default like Greece ... reason is because US can print money to monetize it's debt whereas Greece cannot because it doesn't have it's own currency.
One fine day, the US dollar will die but for now it still has life. It will be dead when the 30 year treasury yield goes exponential signalling hyper-inflation. This will be the signal for individuals to go into physical commodities and abandon paper in time for the great reset of the financial world.
Don't listen to me though. I'm a novice investor.
rise1