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Um? Run to the hills?

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[andyt]

The US defaulting on the debt - holy shit.

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Well, this isn't something new. They have always been raising the debt ceiling but the GDP/debt ratio is going to cut into the triple AAA rating if they can't get the spending back in line with how much they take in.

I don't think there will be a repeat of 2008 and you'll notice there is no mention of Putin's economic corruption (big surprise) is sort of like the pot calling the kettle black here. Still, a lot of the issues he is talking about like the gold standard vs fiat issue are still salient.

[sandorski]

Keiser is a flake. The first video I watched of his, he was interviewing a Guest who insisted that Canadian Real Estate values would drop 90% this year. His "de facto default" claim is also flat out wrong. The Debt Ceiling is a Government self imposed limit and not some line where Default has been pre-determined to be. Debt >100% of GDP(although a big problem) is also not some line where Default becomes automatic. Then he goes on about Gold, Fiat Currency, and other utter nonsense.

[PublicAnimalNo9]

Ah ok, so it wasn't a thread about the current state of the hamburg bun industry

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sandorski sandorski:

Keiser is a flake. The first video I watched of his, he was interviewing a Guest who insisted that Canadian Real Estate values would drop 90% this year. His "de facto default" claim is also flat out wrong. The Debt Ceiling is a Government self imposed limit and not some line where Default has been pre-determined to be. Debt >100% of GDP(although a big problem) is also not some line where Default becomes automatic. Then he goes on about Gold, Fiat Currency, and other utter nonsense.

Oh no doubt about that. Moving the goalposts and defaulting are two different things but one does lead to the other if your not careful and that's why the point about triple A is still a valid one. It's like a run on the bank. I don't know what his idea was on silver though, I can understand why that went up so much.