Quote: (09-13-2012 02:14 PM)BIGINJAPAN Wrote:
Just remember Japanese debt is held by the Japenese. 30% of US debt is held by foreigners. Makes a huge difference how things play out in the end
If we had a crash of both the Euro and Dollar, most creditors would be quite pissed but their domestic economies would probably take up much more of their attention than how they'd collect from the USA. After all, even if the US military took a 50% cut, it would still be over twice the size and much more powerful than 2nd place. Outside of an economic embargo(which cuts them off from the world's largest consumer market, greatly harming their exports), there's not really much the creditors could do.
On another note, I personally do not trust Zerohedge although I agree with much of what the site puts out. The problem I have with it is that it seems very sensationalist and its message consists primarily of "WHY THE WORLD IS FUCKED! Read our 893274937829048039th report on how buying gold will save you from the inevitable financial apocalypse!(Everyone Will Starve Edition)". I also think that they're getting quite a few kickbacks by their recommended precious metals sellers just as Glenn Beck does with Goldline.