Very elegantly put onetrack.
If people doubt that this defaults/renig of debts wont happen, consider this:
» Soros: Dollar ‘no longer’ reserve currency Alex Jones' Infowars: There's a war on for your mind!
At 1:20 in the vid he mentions commodities as a basket of backing to a reserve currency. If gold for example is a part backer to another currency then expect $2500 - $5000 oz prices. silver will most likely jump to $150 - 250oz when that happens. Soros by the way is only looking out for Soros. Is he hinting that their will be another reserve currency group? interesting thought, however it will take a massive amount of liquidity to make that happen as US treasuries are the most liquid in the world.
If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered.
- Thomas Jefferson