It's much worse than that. We enjoy a special status with the dollar as the reserve currency. We'd probsbly lose that before we defaulted, just the fact that we

It's much worse than that. We enjoy a special status with the dollar as the reserve currency. We'd probsbly lose that before we defaulted, just the fact that we were considering defaulting would be enough. And without a reserve currencey the world economy would go into a tailspin. http://en.wikipedia.org/wiki/Reserve_currency http://en.wikipedia.org/wiki/Reserve_currency