MONEY: Default is unavoildable

http://lewrockwell.com/north/north1264.html

—  begin quote —

Will the federal government default? Yes. Will investors learn their lesson? Not for long. But for a time, yes.

Here is the lesson: Do not trust a politician who says America cannot, must not, and will not default.

Here is the rule: “Never believe a rumor until it is officially denied by the government.”

Obama has officially denied it.

It’s coming.

— end quote —

Regardless of how you define “default”, what the FED is doing in buying debt with more paper, is de facto default.

So what the individual to do?

Buy assets that are not dollar denominated.

Bullion coins are my favorite. Nickles too.

Diversify. Pay off debt. And “get small in your hole”. (Any vet knows what that means!)

–30–

 

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