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IPFS News Link • Dollar Meltdown The

Trigger event! California default by March 2010

I have been hearing anecdotally that the trigger event for THE meltdown will be a default by Ca in March. Any way you look at it they are screwed. The article in the link references $500 Billion in estimated total Ca debt ( State, local etc..) with the deficit growing week by week even the latest $21 Billion gap will expand significantly as taxable economic activity continues to erode at 2- 3% annually.This may be why there are so many rumors of tanks, military and riot training in Ca just now. The feds and the governator know tat there is no way forward. The US government cannot simply print the dollars to bail CA out now as 1) it would set a bad precedent for the other 38 states in bad financial shape and 2) it would collapse the USD index to below 60 and that would lead to a total US meltdown..from the article "The worst case would be the mother of all financial crises. According to the California State Treasurer’s office, California has over $68 billion in public debt, but the S