On 6/20/07, Eugen Leitl <[EMAIL PROTECTED]> wrote:
On Wed, Jun 20, 2007 at 10:59:29PM +0530, Udhay Shankar N wrote:
> >the chance that the US will not repay debt is negligible.
>
> In effect, that was my point. Partly, by implying that the threat of
How can the US repay its debt? Why should it do it, it will just
default, as all states in the past with fiat currencies did.
The state won't go broke, but you can imagine who'll be left
holding the bill.
I will bet you up to US$10,000 that the US will not default on any
significant fraction (>10%) of its public debt within the next 10
years.
Talk is cheap.
-- Charles
