If Greece had their own currency now, and their bonds were denominated in that currency, they would simply devalue their currency, reducing the value of their bonds and making them easier to pay back.

But we would need to start with a new currency that is REAL, and not simply a debt owed to a banker from the beginning.

Should be a way to profit on the fluctuation between the two currencies alone.

If the American Dollar become so unstable, China can demand currency equivalent - possibly in precious metals with value equivalent to the Chinese currency.

I suppose one could trade their US dollars for other currencies but with all the world markets tied so closely together I'm not sure it would be of any benefit.

However, I do believe that our country's currency, and the rest of the world's for that matter, could not have continued to rely on the gold standard.

I'd die of boredom.Comodities and for-ex are too volatile for me.

One of the methods to pay down this debt is to inflate the currency.

One good thing about our debt here in the U.S. is that it is denominated in our own currency so we can simply debase the currency and transfer the cost of our profligacy to our lenders.

If you feel poor because you just lost a lot of equity in your house you are much less likely to buy stuff anytime soon.What is happening in the present time has a lot to do with other currencies.