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Also, not only is it possible, but many countries have in fact chosen to default on debt denominated in their own currency, rather than subject their citizens t
by evancox100 3y ago
Also, not only is it possible, but many countries have in fact chosen to default on debt denominated in their own currency, rather than subject their citizens to wild inflation and/or break norms around reserve bank independence. So, it could happen even if US is not forced to, I agree.
For a starting point, see https://www.bankofcanada.ca/wp-content/uploads/2020/06/BoC-BoE-Sovereign-Default-Database-Local-Currency-Default-Frequency.pdf https://www.bankofcanada.ca/wp-content/uploads/2020/06/BoC-B...
- dllthomas 3y agoThough for the US, it would be clearly unconstitutional.