Its looking like Armstrong may not need to wait long, he may just get his wish as soon as this Sunday evening.
"Police have been hurling tear gas to repel rioters who in turn volley back with firebombs. The police are also government workers, as are the rioters. When they wake up and see they are in the same boat as the other government workers rioting, we are looking at a total meltdown"
Armstrong also gives an excellent historical lesson on US currencies, from the Spanish 8 Reals to early American colonial currencies to the Continental (the early US' version of the Euro).
The reason the US' single currency was a success, is because the Founding Fathers wisely had the Federal Government absorb all of the state's debts, which had the result of creating a strong union.
The Euro on the other hand, left its individual nations saddled with their own debt- which now needs to be paid back in Euros, making debt default, and Euro collapse inevitable.
