Consider_this

Country Default Risk

One scenario that didn't seem possible before all these crisis started seems to yell out from this chart now.

What happens if all the govt defaults?

It doesn't even have to be "all countries" to cause the govt-credit market to seize up in general.

All the countries look terrible now, so this is not that far fetched.

Plus, with global trade linking economies know, As each country fails, it'll pull it's economic neighbor, whether trading partner, creditor, partner or what not, down.

This has never happened before, so I *am* describing a black swan event.

But consider the consequence if it does happen. I can't begin to fathom this bottomless pit.

Forget gold or silver, if this happens, we're talking about military might being the ultimate valuation/currency of any country. i.e. 1 unit of firepower = 1 bag of rice or something like that. Exactly what was used during cavemen periods.

What have we done!