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What will happen if the US defaults?
By Dave Winer on Monday, July 11, 2011 at 6:00 PM.

They're not telling us the truth about this. Someone should. #

They say interest rates will go up. That might even be a good thing if that's all that would happen, but it's not. #

With no safe place to store value, the financial system are going to get crazy. #

Gold and silver will probably shoot up, as will commodities. Anything that might possibly hold its value is going to become dear. #

Are you going to take your money out of the bank? Well, as August 2 approaches, you'll probably have lots of company. #

But that's just the beginning. Truth is no one knows what will happen because nothing like it ever has happened.  #

A picture named hell.jpgOne thing that will happen for sure is that the government will shut down. If you value stability -- food on the shelves of the supermarket, electricity and air conditioning, garbage pickup, police and fire protection -- you're going to be unhappy. As much as some people think govt is the problem, we'll find quickly how indispensible govt services are to the lives we lead.  #

You support the military you say? They won't get paid. How will they get home? You think the airlines are going to run with no banks or police? I think the air traffic controllers work for the government if I'm not mistaken. Pretty sure the airports are government-run. Trains, bridges, tunnels. #

You think Iran and North Korea aren't watching? Might be an interesting time for them to do something.  #

Sometimes being scared is correct. This is one of those times. #

The moment when the US tosses its cards in the air. #

Christmas Tree
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