OK, there is a lot of talk about this in the press, and the laughs keep coming. But the most frightening thing is that, when you sit down and realize that this is legally quite possible and that in theory it "solves" a potential problem.
What does that mean?
Does it mean that our financial system of fiat currencies is really, when it all boils down to it, more smoke and mirrors than anything else?
Does it mean that there is an impossibly frightening gap in the real credibility of the US financial system?
Does it mean that we've run out of sane ideas?
Does it mean that semi-sane compromise is no longer feasible?
Does it mean that the US debt and currency markets are going to take this in good humour?
I thought long ago I could cease being amazed at how looney things could get.
Nope...but only to the last preposition.
