Comments on: Don’t Cross This Line…or This One…or This One http://necessaryroughness.org/archives/423 two kingdoms, hundreds of thousands of miles Fri, 04 Jul 2008 21:35:45 +0000 http://wordpress.org/?v=2.5.1 By: Necessary Roughness » Blog Archive » Don’t Cross This Line…Again http://necessaryroughness.org/archives/423#comment-182 Necessary Roughness » Blog Archive » Don’t Cross This Line…Again Wed, 08 Mar 2006 03:16:58 +0000 http://necessaryroughness.org/?p=423#comment-182 [...] Treasury Secretary John Snow is asking for another elevation of our debt ceiling. If you’re getting déjà vu, it’s because he did it less than three months ago. Prior to that they waited a whole year before asking. [...] [...] Treasury Secretary John Snow is asking for another elevation of our debt ceiling. If you’re getting déjà vu, it’s because he did it less than three months ago. Prior to that they waited a whole year before asking. [...]

]]> By: Dan http://necessaryroughness.org/archives/423#comment-110 Dan Sun, 01 Jan 2006 06:12:55 +0000 http://necessaryroughness.org/?p=423#comment-110 I suppose it would look like <a href="http://www.businessweek.com/magazine/content/05_08/b3921162_mz035.htm" rel="nofollow">Argentina</a>, Russia, or even our own U.S., which defaulted on its obligation to pay in gold people who wanted to exchange 1 USD for 1 dollar of gold. Our paper that bought a dollar's worth of gold before 1933, when we were on the gold standard, can't buy much gold for $1 now. Gold has nearly doubled over the last five years, from around $280 an ounce at the end of 2000 to above $515 now. We would probably still have paperbacks because they are plenty in supply and you can't do much else with them (except burn, I suppose). But if Americans want to buy Canadian beef, Columbian coffee, etc., most of us would have to forget it. Who would want to exchange US dollars for foreign currency and products when we can't stablize USD value? Maybe then all these people who threaten to move northward every 4 years when an election doesn't go their way would finally come visit you. :) I suppose it would look like Argentina, Russia, or even our own U.S., which defaulted on its obligation to pay in gold people who wanted to exchange 1 USD for 1 dollar of gold. Our paper that bought a dollar’s worth of gold before 1933, when we were on the gold standard, can’t buy much gold for $1 now. Gold has nearly doubled over the last five years, from around $280 an ounce at the end of 2000 to above $515 now.

We would probably still have paperbacks because they are plenty in supply and you can’t do much else with them (except burn, I suppose). But if Americans want to buy Canadian beef, Columbian coffee, etc., most of us would have to forget it. Who would want to exchange US dollars for foreign currency and products when we can’t stablize USD value? Maybe then all these people who threaten to move northward every 4 years when an election doesn’t go their way would finally come visit you. :)

]]> By: PrKlages http://necessaryroughness.org/archives/423#comment-109 PrKlages Sat, 31 Dec 2005 17:09:30 +0000 http://necessaryroughness.org/?p=423#comment-109 So what would it look like for the gov't to default? So what would it look like for the gov’t to default?

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