patrick.net

mell says

The thing is that the EU cannot engage in an insane printing bonanza like the US as its currency is not the world's reserve currency (that may or may not change but until then..). And I am glad they aren't attempting it. So their hands are more or less tied which is an advantage in this case, they will clear the bad debt much faster and come out ahead. They are currently neck-on-neck with the US in debt-to-GDP, but are more aggressively controlling spending. And if they fail the countries will lower debt-to-GDP will secede and eventually prosper.

Have you heard of SDR's ?

IMF and World Bank are going to CREATE $100TRILLION, this will be the defacto WORLD RESERVE!

PS, we hit 70 days!

http://www.reuters.com/article/2013/08/02/usa-fiscal-suspension-idUSL1N0G31O220130802

UPDATE 1-U.S. Treasury extends suspension on issuing debt