However, the US has "defaulted" once before, and it was arguably because of the executive action of even less men. See this article (http://en.wikipedia.org/wiki/Nixon_Shock) for information on how Nixon took the US off of the gold standard in 1971 (maybe to fund a war in Vietnam?).

As a radical libertarian, I see the removal of government influence in any industry a welcome thing. However, I am not sure if this is the way to go about it, i.e, through an engineered, short-notice crisis, rather than through the gradual changes and concessions technologies like cryptography have obliged the government to accept.

Have to keep this post short but my logic is:

1)Baidu accepts Bitcoin.

2)Chinese people use Baidu to figure out what a BTC is.

3)The GDP per capita in China is $9,000 a person.

4)This makes Bitcoin unaffordable to most Chinese people.

5)Translate all of our content into Chinese

6)..... You know the rest!