Implosion is imminent. Gold is up, stocks are down, (with much more room to drop) banks are slowly admitting their compromised positions with government paper and some have moved to stronger gold positions. Global recession has been on the map since China's economy started contracting. U.S. debt has soared and the paper the treasury issues is becoming devalued, but there is truly nowhere for it to go as our own economy slows. Oil has lost 70% of its value, taking the economies of the Middle East with it, though they have been able to stave off drastic cuts in domestic spending so far, it has come at a high price as they now try to sell bonds to institutions that are already holding too much government debt.
It must be obvious to anyone (if they aren't too busy taking selfies) that our indebted government has no intention of every repaying that debt. They will not repay China, or the UK, or Japan. The U.S. Government is a deadbeat. But, it has collateral. It has vast amounts of Western states it has occupied for over one hundred years.
The question one must ask oneself is this: What happens when the debt collector comes to collect?
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