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View Diary: China Cuts US Credit Rating. Obama Cuts Hawaii Vacation Short. (171 comments)

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  •  This may actually be a good thing: (3+ / 0-)
    Recommended by:
    US Blues, Odysseus, ozsea1

    If we go insolvent, then our creditors are going to come in and start seizing asset, including all of the investment transaction records that'll show every last iota of offshore deposits (the Chinese are notoriously efficient in this regard).  Once they get their hands on the investmant transaction records, the entire world is going to know where every last dime in offshored US wealth is --- and who has it.  I'm betting that they've used their repackaged toxic debt gambit on each other in so big a way that the vast majority of the 1%'s wealth is a paper tiger --- and nothing but a paper tiger.

    THAT will be the straw that breaks the back of the 1%.

    I count even the single grain of sand to be a higher life-form than the likes of Sarah Palin and her odious ilk.

    by Liberal Panzer on Wed Dec 26, 2012 at 07:36:16 AM PST

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