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USA Debt deadline discussion

  • #1
  • First Post: Oct 13, 2013 7:27am Oct 13, 2013 7:27am
Just wondering what time on the 17th The deadline is.

And also if the USA defualts what would be a good currency to invest in? Seeing a Japan holds alot of the USA debt I would guess that would be a no no. I was thinking GBP or EU ?
  • #2
  • Oct 13, 2013 11:26pm Oct 13, 2013 11:26pm
China holds 13% of our total debt, and it's the biggest foreign nation that owns any of our debt. Combined with all the other countries, I don't think they even make up 25% of our debt? I have to look up the numbers, but we owe more than double what China owns to ourselves. I highly doubt a default, because I believe a default would mean war. Either way, it's a win-win for the USD.
Play the players, not the cards.
  • #3
  • Oct 13, 2013 11:43pm Oct 13, 2013 11:43pm
http://www.washingtonpost.com/blogs/...most-u-s-debt/

The current debt limit of $16.699 trillion was reached in May.
  • #4
  • Oct 14, 2013 12:21am Oct 14, 2013 12:21am
Quoting GnarlyPips
China holds 13% of our total debt, and it's the biggest foreign nation that owns any of our debt. Combined with all the other countries, I don't think they even make up 25% of our debt? I have to look up the numbers, but we owe more than double what China owns to ourselves. I highly doubt a default, because I believe a default would mean war. Either way, it's a win-win for the USD.
American's (& the Fed) thru intra-government own A LOT of it.

The US won't default.. not yet. This is a budgetary impass, not a debate on what country won't recieve their interest payment. If they do default, then there's a Fed $45bil Taper for ya!
  • #5
  • Oct 14, 2013 12:33am Oct 14, 2013 12:33am
The debt markets are pricing some kind of default http://www.investing.com/rates-bonds...advanced-chart
  • #6
  • Oct 14, 2013 12:41am Oct 14, 2013 12:41am
I think it is important to remove the word default from this. The US treasury takes in roughly 24 billion per month in total revenues and the service on the entire debt is only around 30 billion. Not raising the debt ceiling would result in some necessary belt tightening but would certainly not result in any default. Those politicians who are on television pushing the possibility of a default are lying and fear mongering, nothing more.
  • #7
  • Oct 14, 2013 11:04am Oct 14, 2013 11:04am
Yes but what would be the best currency to buy? Just incase? Euros? Pounds?
  • #8
  • Oct 14, 2013 5:07pm Oct 14, 2013 5:07pm
In my situation, Ive been slowly buying physical precious metals to hedge against a failed fiat currency.
  • #9
  • Oct 14, 2013 9:45pm Oct 14, 2013 9:45pm
Quoting EmeraldEyes
In my situation, Ive been slowly buying physical precious metals to hedge against a failed fiat currency.
This is something that so many people are doing. In the case of the dollar failing, and I'm assuming you're an American, how would you plan to use those metals? I ask this to anyone I know that's doing the same thing, and I've yet to hear a reasonable answer.
Play the players, not the cards.
  • #10
  • Oct 14, 2013 10:43pm Oct 14, 2013 10:43pm
No currency ready to replace dollars. Sterling will also go under since its trading closely tie to America. Euro actually cross my mind, but the stability of eurozone with french elections is in jeopardy (before was german, now french). China, Japan, a big holder of US T-debts. I will go for CAD (oil reserve) or AUD (gold reserve). These are 2 currencies i will pick.
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  • #11
  • Oct 15, 2013 12:42am Oct 15, 2013 12:42am
This is fun to read http://www.countdown.org/en/entries/...o-end-america/
Don't blame the tools. Blame the carpenter.
  • #12
  • Oct 15, 2013 9:44am Oct 15, 2013 9:44am
Quoting GnarlyPips
{quote} This is something that so many people are doing. In the case of the dollar failing, and I'm assuming you're an American, how would you plan to use those metals? I ask this to anyone I know that's doing the same thing, and I've yet to hear a reasonable answer.
Silver is in pre-1965 US coins or silver dollars, gold is in American Eagle, Canadian maple leaf 1oz or 1oz from pamp suisse(sp). My figuring is that the US coins that contain real metal will still be of value. Using it though in a post-dollar world, idk. Im just positioning in case.
  • #13
  • Oct 15, 2013 10:08am Oct 15, 2013 10:08am
The American people own the most government debt. The US Dollar wont fall any time soon. Id expect it to lose its global reserve currency status first.
  • #14
  • Oct 15, 2013 10:54am Oct 15, 2013 10:54am
You dont default when you own a money printing press.
This is hurting the credibility and sanity of the nations elected; a bigger problem then money.
A can kicking event at it best. Look to short the impulse move in the market for long term gains.
  • #15
  • Last Post: Oct 15, 2013 11:02am Oct 15, 2013 11:02am
For the last 1 hour, i really get tired of all media giving me conflicting news. Are they reach a deal or not? Enough, i go to sleep now.
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