tag:blogger.com,1999:blog-3758330678390419129.post4160943248914872572..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: Government Insiders: The True U.S. Debt Couldn't Be Paid Off Even If We Taxed All Income Over $66K by 100%Robert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-3758330678390419129.post-35733578793041779612012-12-26T19:19:35.152-05:002012-12-26T19:19:35.152-05:00Oh I agree it would hurt the world, & the empi...Oh I agree it would hurt the world, & the empire wont go quietly, but long before the dollar finally kicks I think it's abandoned as the world reserve currency. Which I think will off set some of the impact on other countries like mine, Canada.Schueyhttps://www.blogger.com/profile/04232403843503910978noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-36621573159793875642012-12-26T16:16:03.025-05:002012-12-26T16:16:03.025-05:00I stated that my belief is that the Fed will monet...I stated that my belief is that the Fed will monetize all of it. And I also agreed with Wenzel that rates will not stay low indefinitely. Only until there is a reset of the entire financial system.<br /><br />I also stated that other countries would abandon the dollar. But do you believe that the US would go away quietly. The military presence already encompasses the globe.<br /><br />When Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-11402610929171125632012-12-26T13:19:47.918-05:002012-12-26T13:19:47.918-05:00I would add the caveat that how much would the fed...I would add the caveat that how much would the fed need to monetize to keep rates that low? It's hard to imagine the fed being able to do this to keep rates low indefinitely, countries would abandon the dollar, and it would collapse not necessarily taking the financial system with due to the fact other countries already trade outside the dollar.Schueyhttps://www.blogger.com/profile/04232403843503910978noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-70061874370051595162012-12-26T12:48:08.438-05:002012-12-26T12:48:08.438-05:00Good point Craig. I do wish some of these Austrian...Good point Craig. I do wish some of these Austrian economists would withhold any attempt predicting when this or that happens. We're in uncharted territory now and it would be impossible to pinpoint precisely when a rise in interest rates will occur before the collapse of the system, if at all.Jeremyhttp://www.lewrockwell.comnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-69607380051421681082012-12-26T10:40:48.532-05:002012-12-26T10:40:48.532-05:00If the Treasury will be the buyer of last resort f...If the Treasury will be the buyer of last resort for years to come, and rates rise, what will happen with the debt service?<br /><br />Robert I said this to you over 3 years ago and you blew me off. I said that the Fed would keep rates low and continue to buy treasuries. Up and to the point that the Fed is the ONLY buyer. Other Central Banks will not want the paper and the debt service, Anonymousnoreply@blogger.com