There is a fairly nice description of the 'credibility trap' in this very interesting discussion between Max Keiser and John Titus.
I had said in my major forecast from 2005 that at some point the Bankers would make the US an 'offer which they think that they cannot refuse.' The film references that sort of negotiation tactic. There is another crisis coming, and another offer which will involve more than just money.
Here is a link to the complete show 'Central Bank Monarchs' including the discussion with Stacey Herbert.