Read More: House Speaker John Boehner, Sovereign Credit Default Swaps, u.s. Debt Default, Credit Default Swaps on U.S. Debt, Debt Ceiling, President Obama, Business News
Most of the financial press has focused on how awful a technical default would be, and who is upset. But our leaders might ask a different question. Who are the reprobates that are cheering for the possibility of a technical default on the U.S.? Who stands to gain?
Though I don't recall the G-20 declaring a new currency standard, J.P. Morgan announced on Monday that it will accept physical gold as collateral for investors who want short-term loans of cash or securities.