Actually reneging is the norm, Armstrong did research going back 6000 years, every empire during that time eventually defaulted on its debts, the exception was Romania. In the 1930's, most of the world defaulted on its debts, South America, Asia, Europe, the exceptions were the USA and Canada and also Britain which placed a 6 month moritorium on debt payments. So the USA not reneging on its debts would make it the exception in 6000 years, given the corruption in the banking and political circles (human nature does not change over thousands of years) it is not hard to figure out what is going to happen to the trillions of dollars of debt outstanding. Go to youtube and watch Tony Robbins video on the debt, a real eye opener. Obama's Chairman of his finance committee said it well...." The American people are financially $#@%^&$&ed".
This makes about as much sense as saying that up until relatively recently no nation in 6000 years has been able to go to the Moon or Mars so obviously we will not be able to go to the Moon or Mars.
How about a side bet? If by 2017, the US govt has defaulted, I will send you an oz of actual physical gold. But if the US has not defaulted, you will give me what an oz of gold is worth today, to round off, let's say $1600. You're upside is nearly limitless; mine, obviously impacted by the ravages of inflation. Makes it a good bet for you, no?
So, what do you think?
