The federal government could default on its debt as soon as July, a new forecast from the Bipartisan Policy Center warns, raising pressure on Congress for action.
The prominent think tank forecast Monday that the so-called “X-Date” would likely arrive between mid-July and early October.
You can not simply “shift” billions of dollars from one currency to another.
As much as the rich people with billions want to get rid of the USD, the people willing to give GBP or Euro for USD don’t have to accept. Why would they want to be holding on to the USD if the others don’t?
They could be slowly doing it right now, but if the shit hits the fan, the exchange rate would jump.
Yeah- lots of things would “jump” it would be a catastrophic process. That’s my entire point. Lots of people would stand to lose a lot of money, but those who have inside knowledge stand to be able to save a large fraction of their wealth, while everyone else becomes a serf, because all of their investment and savings will be worth jack shit. And I think that’s one of the points of this whole circus.