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One side note to bear in mind - UNLIKE WHAT JEFF IS SAYING IN THIS VIDEO: "The "monetary" system is NOT broken. It functions EXTREMELY WELL, and it does EXACTLY what it was programmed to do."
Fitch downgrades US government debt as its fiscal woes are piling up. Why? The same reason American use of gasoline just nosedived. This is also the reason why the government has been able to continue borrowing all it wants despite its dramatically worsening credit profile. Demand for safety and liquidity in unsafe and illiquid times matters more than how broke Uncle Sam is getting to be.
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