What happens if the U.S. defaults on its debt?

MarketWatch/Andrea Riquer

Repost from 10-1-2021

Graphic image of HAL 9000 fictional computer“The very idea of a U.S. default remains so incongruous that the reaction in financial markets isn’t the only unknown. The current showdown in Washington also has raised big questions about the financial-systems infrastructure. It’s a bit like Y2K — no one knows how the computers will respond.”

USAGOLD note: It will be an unsettling reality for some to think that the computer matrix’s response to a U.S. debt default now needs to be taken into account. Rumsfeld’s known unknowns come to mind and, of course, the everpresent danger in the modern era of machines gone mad. Riquer unveils intriguing Y2K-like complexities in this unusual look at the federal debt issue.

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