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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple><div class=WordSection1><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal><b><span style='font-size:11.0pt;font-family:"Calibri",sans-serif'>From:</span></b><span style='font-size:11.0pt;font-family:"Calibri",sans-serif'> extropy-chat [mailto:extropy-chat-bounces@lists.extropy.org] <b>On Behalf Of </b>John Clark<br><br><b><o:p></o:p></b></span></p><div><div><div><div><div><div><p class=MsoNormal><b><span style='font-size:11.0pt;font-family:"Calibri",sans-serif'>>…</span></b><span style='font-size:13.5pt;font-family:"Arial",sans-serif'>However anybody who claims that his area of expertise is money and yet thinks the government could default on its Treasury Bills without causing a global catastrophe can't be very swift… John K Clark<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt;font-family:"Calibri",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:16.0pt;font-family:"Calibri",sans-serif'>Is not the global catastrophe caused by default proportional to the size of the debt? If so (I cannot imagine a reason why not) then we should be urging foreign and domestic investors to stop loaning money to the US immediately. Loaning more money is contributing to the magnitude of the global catastrophe.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:16.0pt;font-family:"Calibri",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:16.0pt;font-family:"Calibri",sans-serif'>This is a government which has not only failed to stop deficit spending, it isn’t even trying. So… we need to tell investors the obvious: eventual default is inevitable. All investors are really doing is betting on when it will happen.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:16.0pt;font-family:"Calibri",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:16.0pt;font-family:"Calibri",sans-serif'>spike<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt;font-family:"Calibri",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri",sans-serif'> <o:p></o:p></span></p></div></div></div></div></div><div><div><div><div><div><p class=MsoNormal><o:p> </o:p></p></div></div></div></div><p class=MsoNormal><o:p> </o:p></p></div></div></div></body></html>