Quote:
Originally Posted by John Mercier
Here, it would be very quick.
There would be a run on the banks... because FDIC does not cover foreign banks. There would be an immediate recall of all FHA/VA and similar backed-mortgages... because they don't cover foreign properties; and the foreclosure timeline is fairly long.
The hospitals would refuse to take Medicare patients, because your Medicare does not cover hospitals in foreign institutions... and the remittance of reimbursement from the federal government takes months... so they wouldn't support risk; especially private doctors.
After that it would just cascade...
|
Think it through, John. They'll nationalize the banks like Dom Mintoff did in the 50's (Malta, population ~500K) and the VA, FHA, etc. can't foreclose in a foreign country where they have no authority. Don't worry about currency--Bitcoin is here.