America is an over-extended empire in decline. But it won't default. It's debauching the USD.
Lenin once said that the best way to destroy capitalism is to debauch the currency, little dreaming that Bush Junior, Obama, the Fed, Congress and the US Treasury printing more paper money, raising the Debt Level, and borrowing to cure American Debt Disease would implement Lenin's fondest wish.
America will not default - it will increase it's US Sovereign Debt level - and convert the Almighty USD into Confetti Currency. Those who lent HEAVY Dollars to the US will be repaid with Confetti Dollars.
With the Almighty US Dollar being slowly debauched, rich Americans are dumping the USD to buy gold.
The rapid rise in the price of gold in USDs is not what it seems. What's really happening is the US Dollar is losing its buying power due to the US debauching its currency to pay it debts.
Pity about those retiree savings plans. But why worry. The Superbowl is superb. And for only $850 Billion we shot Osama.
