This is just a fictional scenario for the possible consequences that the people of the United States are facing in the coming week.
Today is the first day in my brave new world. The events of the past week have been surreal to me: each passing hour seemed to have another announcement detailing the collapse of the United States. But today, I have no choice but to accept these events and prepare accordingly. Today, reality sank in as I read the following chronology of “highlights” that started on October 16th, 2013 on Reuters.com:
October 16, 2013
10:00 AM Congressional leaders met with President Obama to finalize an agreement to end the government shutdown and extend the debt ceiling. The NYSE is 15,317. Gold is $1283.
11:53 AM The meeting breaks down with an announcement that the talks have stalled over a “minor sticking point” concerning the debt ceiling. The talks will resume at 2:30 PM.
1:30 PM The debt ceiling is breached. Projected revenues were short: Republicans blame layoffs from Obamacare on the shortfall. The NYSE is 14,898. Gold is $1290.
1:35 PM China and Saudi Arabia announce an agreement allowing China to purchase oil directly with the renminbi effective immediately.
1:45 PM Every OPEC member agrees to use the renminbi in conjunction with the USD. China calls for a world summit to address the status of the USD. The NYSE is 13,755. Gold is $1400.
1:55 PM Congressional leaders and the president convene early. A press conference is scheduled for 3:00 PM. The NYSE is 13,233. Gold is $1458.
2:00 PM All stock exchanges are closed. The NYSE is 12,875. Gold is $1521 and is still trading on the world markets.
2:10 PM Japan announces that all US Treasuries have been sold back to the Federal Reserve at an undisclosed price.
2:15 PM Bank runs start in New York, Atlanta and Chicago. Gold is $1618.
2:30 PM All banks are closed across the country until further notice.
3:00 PM The president announces a deal with Congressional leaders. In a joint announcement, leaders from both parties assure the public that everything is under control.
3:30 PM All EBT, WIC, Social Security and Medicare programs are temporarily suspended until Congress passes legislation for the president to sign and end the crisis. Gold is $1715.
6:57 PM The legislation passes the House of Representatives.
8:13 PM The legislation passes the Senate.
8:54 PM President Obama signs the legislation and the crisis is over. Gold is $1706.
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