The US has already defaulted 4 times

Whenever I hear someone say the US just cant default, it has never defaulted, it would be a complete armageddon, it makes me laugh. Being a student of history, or at least the history I am aware of, I can point to 4 times the US has defaulted. Now, before you get your underwear in a bundle, a default is when the issuer doesn't pay the debt/bond holder. I know people like to play fun with words but that's what it is, period.

Here are the Greatest hits of the United States Default tour of 1862 to ????.

1. 1862 - US sold Demand Notes to fund the Civil War. Government printed paper money ie "Greenbacks." and they devalued vs gold. Default #1.

2. 1933 - US issued Gold Bonds which could be redeemed for gold coin. Until the Govt decided instead to "pay back" the gold bonds in paper currency. Default #2

3. 1968 - US refused to honor the terms of Silver Certificate Paper dollars which stated that they could be redeemed for actual silver dollars. Adding insult to injury, the Govt voted in 1965 that Silver Dollars no longer had to be Silver. Default #3 and Screwjob #2034

4. 1971 - Dollars held by foreign governments were supposed to be able to be redeemed for gold, under the Bretton Woods agreement, the agreement that forced the world onto the dollar. Govt said nope, and the world has never been the same. Btw, the dollars for gold was the FOUNDATION of the Bretton Woods agreement.

So, the US government has defaulted FOUR times.

Interestingly, #2 went to the Supreme Court where the power of the US Government to default was upheld.

#4 great quote: Then Treasury Secty said in response: "The dollar is our currency but its your (foreign nations) problem."

And the trend of the US saying F U to other nations, began. Freaking Nixon.

Look, the world and US citizens have already experienced the US govmt sayin nah, we ain't paying. And yet, the US marches on.

Again, to me one of the greatest risks for the country financially and geopolitically is the overt move by nations to move OFF the dollar. If I was them, I would want to do the same thing. The dollar is the single greatest weapon that the US has.

Finally, I reiterate that all of this drama is BS. Seriously, This would not be the first time the US defaulted. Nor the first time the US was downgraded.

I like my SPY calls, my QQQ calls, and my VIX calls.