Who in their right mind would lend their capital from T-Bills or gold to California?
There is never ‘no default risk’ as Mr. Lockyer asserts. Governments lie and refuse to honor their promises all the time. In about a month or two just ask all the teachers , nurses and law enforcement who were promised a paycheck that Mr. Lockyer is now saying may not come. The betting odds highly favor economically motivated riots breaking out in New York and Paris. In my opinion, Los Angeles is the most probable metropolis. I wonder what will happen during the riots if law enforcement unpaid? I am sure they put their lives on the line in front of tens of thousands of hungry people just for fun or purely altruistic motives. I have a friend who works at a law firm in San Diego and one of the attorneys left early on October 2nd to pick up some extra food and polish his gun collection. Those in California should prepare as they deem appropriate. The financial atom, the Federal Reserve Note Dollar, of the modern financial world is predictably evaporating. The cure to this worldwide ailmen
