Yes, crap would hit the fan if there was a run on the banks. But in Greece even, that hasn't happened yet. It would take an incredible catastrophe for every nation to ask for its money back.
No one ever said what the US was doing was good. I'm against deficit spending more than anyone. Its a very bad thing to do.
However, the alternatives are horrible. The opposite (communism) calls for the destruction of private entities, which has always led to horrible results.
In fact, I'd argue that the US going halfway, into a socialist system like we have is the cause. Its not capitalisms fault. Its the establishment of various types of government programs that cannot be funded that are causing the problems. Capitalism would want free markets that put the responsibility for most services on the people, and not the government....What we have is the opposite in many countries.
So in fact, the problems the US, Greece and others is too much socialism.
Back from the dead, I'm afraid.
