Imagine A Political Leadership Poised To Create A Worldwide Panic, As A Stunt!
To create a panic for political advantage is nothing new to the world of politics - but to wander around a powder magazine, while handing out cigars and matches, is nothing short of insanity. Once before, the leadership of the Republican party made the threat to not allow Congress to raise the Federal debt ceiling. Fortunately, they failed to carry out that threat - but in process, by simply uttering the threat that this nation would deliberately fail to honor its obligations, the United States Government lost it’s “AAA” credit rating. In consequence, the people of this country, as well as the government itself, lost billions to higher interest rates. And now, for nothing more than a political trick, Mitch McConnell and the Republican leadership, is now playing the same game. Worse yet, this time around they seem set to fulfill their threat, without the remotest understanding of the hellish consequences that would result.
Until this moment in time, the U.S. dollar had been the worldwide currency of choice - that is, the standard against which all other currencies have related. If now, the United States should actually default on our debts - for nothing more than a political trick - all credibility in the U.S. dollar would sink like a stone! This action would have been bad enough, in the days before WWII when all of the world’s currencies rested on foundations of gold and silver. But now, since the end of that war, when all of the currencies around the globe, have been founded on “nothing but faith”, for any nation, to default on their debts is to declare that their own currency - without substance or even “faith” to support it - is WORTHLESS!
In consequence, no nation on Earth would trust our money again - and that’s only the beginning. Domestically, the first domino to fall would be Social Security, upon which so many millions of our people depend - followed in rapid succession by all the rest of our government-funded medical and social services. In this writer’s view this catastrophe is far too high a price for all of us to pay, FOR A POLITICAL STUNT!