Gerard, if we were in tip-top financial shape I'd agree with you. But we're not anywhere near close.
Yes, it's funny money at this point, but we're not really talking about money per se, are we? What we're really talking about the ownership of the world's reserve currency. -Which is rapidly shifting over to become the Yuan.
Without that little scheme that Nixon pulled on the world back in '71, the dollar would have had to compete with Yuan and Ruble and Euro and Yen on a somewhat level playing field. Quite rapidly the USSA started racking up the debt in ways that a level playing field would NEVER have allowed... Our bond rating would have sunk to "C" status before Clinton ever had a chance to help the deficit... What it should be today is nothing even as noble as "firesale" status at best.
Other countries have had to pay for their bad financial decisions; as the issuer of the world's reserve currency, the US has been protected from this for decades, no matter how ludicrous our debt levels become. The kind of crap that this thread is about isn't helping preserve that privilege.
China won't have to do a damn thing to steal that privilege from us... THIS decade. Obomba is practically throwing it at them.
Face it; your dollars are practically already worthless... The military can't be paid for much longer.
