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Is the US next? Now that would be a wake up call

"The chance of a U.S. Treasury default is zero, so from that standpoint, talk of the U.S. losing its AAA is being overplayed," said Peter Hooper, chief economist at Deutsche Bank in New York.

"Yes, there are risks, certainly interest rate and inflation risks, around what is happening, but default risk is very, very low,"

The gist of the article points out that rather than default the Fed can just print more money. What happens when the $US becomes worthless?

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