It doesn't matter, all the countries pretty much run on the idea that we go through cyclical bankruptcies every 40~70 years anyway.....
The currency will just be replaced or re-valued... bread will cost 100$ a loaf, minimum wage will be 50$ an hour.... our national debts and international debts will be de-valued and payed off with worth-less paper (not worth nothing, JUST WORTH-LESS than what it is today).
All they have to do is raise the minimum wage and the economy will "recover" if everyone is earning 50$ an hour prices will rise slowly, allowing sales to "paper - over" bad earnings and cause most corpoprations, banks and small businesses to become "profitable".
The problem the Federal Reserve or whatever new central bank comes in to manage the receivership of the USA face is that you want to adjust wages slowly, so that you don't instantly force a large portion of the population (unemployed or home-less) into a position that would be considered inhumane... a bum can scrape together 5$ for a burger right now, but what if that burger costs 80$ tomorrow? wouldn't be quite that easy for the homeless, they would either die of starvation or steal food.
The solution to everything (if you really want to keep the current system) is to raise the minimum wage to 50~100$ an hour.
1) Debts held by the public would be easy to pay off, (same thing as debt liquidation).
2) Property values would start to rise again (in terms of fiat)
3) Businesses ALL of them would be able to report atleast 1 year or 1 quarter of extreme profitability.
4) The increased income by individuals means increased tax Revenue as every one is forced into high tax brackets.
5) The increased tax revenue (larger raw number) can be used to pay down government debt/makes it easy to fund govt waste.
Theres really no down side, it punishes savers and the mega poor to bailout the planet.... some would say its worth doing.... =/ I agree that it would benefit more people than it would hurt.
If I was president, and I was looking for a quick fix........
Raise the minimum wage by 10$ an hour every 6 months for the next 2 years.(you have to doit in secret though, don't disclose that you intend to doit for the next 2 years) it has to be done in increments to prevent people from hoarding assets like gold, not many people would rush out to buy gold if Obama said "hey the Min wage is moving from 7$ to 10$, but if you said 50$ everyone would jump ship, you need to give people time to adjust incrementally to maintain stability in the system.
Done, the economy has recovered, everyone reports profits, Tax Revenue sky rockets, Local and State govt tax revenues sky rocket, everyone with any job can afford to pay off all their old debt, a public now un-burdened by debt will start "consuming" again, consumption will drive economic recovery, rich people and savers bitch and moan a little bit.......... but their earnings sky-rocket, stock market sky rockets everything sky rockets.
Make it illegal to buy gold and silver, because they will sky rocket (you want people investing and saving by starting businesses not hoarding assets).
Im sorry to say it, but its the raw truth of the matter, you need to bail yourself out FIRST to get rid of debt, and THEN you can try and re-form the money to go back on gold and silver, you can't go from the fictional position of legal debtor to having gold and silver in your pocket.... the people who make the laws and control govt wont let it happen.