We’ve had devistating collapses in the past and the world reserve currency alwasy comes out on top. And that’s the US$.
Contrary to magical American thinking I don’t think it is possible to have exponentially increasing debt and shrinking ability to pay for it. I’m sure it will be unforeseeable, just like the “subprime” not being contained. Parabolic curves don’t last long.
Oh, look Japan want’s treasuries in the Yen. I’m sure it’s nothing.
TOKYO – Japanese economists, increasingly concerned that the United States might seek to pay its enormous and growing debt obligations in a weakened US dollar, are looking to the possibility of US Treasuries being issued in yen.
