Quote from: CurbsideProphet on July 25, 2011, 06:46:39 PM

Quote from: niemivh on July 25, 2011, 06:08:57 PM

A. When has the US defaulted before?
B. People looking forward to a default are ignorant enough but one's thinking that it is going to help their 'bottom line' in the world of BTC transcend into a new realm of... we'll I don't even know the words for it.

A. 1790 and 1933. There were also several state-level defaults.

B. I agree.

1933 was canceling payments of gold but still paying in dollars. That's different than what a present default would do, it would go from paying T-bills out in dollars to... not paying anything. For those that say "it doesn't matter anyway, we are bankrupt" then please send me some T-Bills.

1790... I'm having a difficult time finding any information on this that looks legit and can actually give me more than a few sentences on it except for this buffoon: http://www.swingtradingdaily.com/2011/07/25/who-says-the-u-s-has-never-defaulted/

Who says every time there is a change in gold-backing that qualifies as a default. Well if you want to define 'default' with as broad a brush as possible then maybe he can shoehorn some of these terms into how he wants but I'm never one for intentionally stretching the language beyond it's definition. But that also includes those calling what is happening now a 'technical default'.