https://www.therainbowblog.co.uk/competition-for-the-banks/ What we live in is broken. It can't be mended. Economy fail. Thu, 31 Jul 2014 12:53:14 +0000 hourly 1 https://wordpress.org/?v=6.8.2 https://www.therainbowblog.co.uk/competition-for-the-banks/#comment-12187 Thu, 31 Jul 2014 12:53:14 +0000 http://www.therainbowblog.co.uk/?p=133#comment-12187 O.K. This is only my point of view, because there is no legal satcne that would ever/could ever or had dealt with such a meltdown.If the US ever did collapse beyond any comprehension we know about .The $ could indeed become worthless .Countries that , lets say, were owed trillions of dollars, could ask to have collateral give against the loan but it is so unlikely, it is not worth considering. The US would be forced to sell/lease out viable assets .oil reserves,oil resources, gold etc. Railways and of course Land e.g. Alaska.At this stage, you own property would in effect be worthless, market collapse.You would owe money to the mortgage lenders, but it is likely that company would have collapsed as well. What third party would want to take on/buy these debts outstanding, when repayment was going to be unlikely ..I would imagine, if this dire positon did every happen, you would have a huge civil unrest and it wouldbe every man for himself and a brand new order would have to grow from the ashes, which would take years. Imagine what happens after a nuclear explosion . Keep smiling though

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