http://www.usatoday.com/story/money/markets/2013/10/03/wall-street-stares-down-us-default/2916643/
"A default would be a 10 on the Richter Scale," says LaVorgna.
It would probably lead to a downgrade in US credit. I dont know what happens from there. What I do know is that the dollar is being deliberately destroyed for the sake of world economics since it is currently the world's reserve currency. The removal of the dollar would allow a world currency to be ushered in.
The U.S. Treasury warned Thursday that a default "has the potential to be catastrophic." It said it could spark a financial crisis and recession that "could echo the events of 2008 or worse."
After the catastrophe and in a post-America world, the new currency would benefit the entire globe.
"There is a 0% chance that the U.S. will default," Parker says.
True, if anti-americanism wasn't so prevalent. Socialism can't take off unless the lone superpower, which happens to be capitalist, is removed from the equation.
The U.S. Treasury said it will be virtually out of cash on Oct. 17.
And time maybe.
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