US Is in Even Worse Shape Financially Than Greece

reply to post by surrealist


That confidence is most certainly not high.

Several indicators have been pointing in this direction.

Everything from S & P sending out warning shots to China dumping 97% of it's short term T-Bills.

Originally posted by Traydor
I hope the UK doesn't have to bail America out as we do with every other country in Europe........

edit on 13/6/2011 by Traydor because: (no reason given)

I dont know if the uk has that kind of money. I read somewhere last week the Crown Estate was worth about 33 trillion.. That might help a bit....

Originally posted by purplemer

Originally posted by Traydor
I hope the UK doesn't have to bail America out as we do with every other country in Europe........

edit on 13/6/2011 by Traydor because: (no reason given)

I dont know if the uk has that kind of money. I read somewhere last week the Crown Estate was worth about 33 trillion.. That might help a bit....

ya like you peasants will ever get to touch that lol

they own a goodly chunk of the world truth be told including here in Canada.

Originally posted by purplemer

Originally posted by Traydor
I hope the UK doesn't have to bail America out as we do with every other country in Europe........

edit on 13/6/2011 by Traydor because: (no reason given)

I dont know if the uk has that kind of money. I read somewhere last week the Crown Estate was worth about 33 trillion.. That might help a bit....

ya like you peasants will ever get to touch that lol

they own a goodly chunk of the world truth be told including here in Canada.

Originally posted by OccamAssassin
I think Greece is in a better situation than the US.

Greece can back up its currency with gold bullion, not just treasury chits.

Erm.. no it can't?

Greece cannot even control how many Euro's it can print.. it has absolutely, no, none, not a itty bitty tiny fraction of control over its currency. It is at the mercy of the European Union and the EU Central Bank.

Whether Greece lives or dies is entirely out of it's hands..

And no .. it cannot in any way now or ever (while a member of the EU) back up it's currency with ANYTHING least of all Gold which it cannot afford anyways.

Then there's the fact that currencies backed by Gold cannot run deficits.. assuming Greece had gold to back it's currency, which it doesn't, it would quickly deplete those Gold reserve trying to pay her own liabilities.

US is the largest debtor nation throughout the entire history. Any person or investor with the right state of mind will think a dozen times before putting money on US company.

Think about this. If US defaults on its debt, it means US treasuries and bonds are no longer risk-free investment. Good luck.