Andrew Hughes

U.S. Debt Default, Dollar Collapse Altogether Likely

Well argued James. The Chinese have become more pragmatic with regard to Treasuries and have their own problems to deal with. The recent Treasuries auction, I believe, only confirms that Uncle Sam's debtors are beginning to choke on the debt they already have. There have been numerous articles on a Treasury pop that have so far been greeted with general disbelief but reality is setting in and it will become more difficult for mainstream financial journalism to spin their way out of this mess.
As far as confiscation of Gold is concerned, there is a rapidly growing market worldwide for physical gold as a store of value and on examination of U.S. Government actions so far in the economic crisis, it would not be surprising in the least if there was a 1933 redux.