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Re: Weather events 2

By: Decomposed in POPE IV | Recommend this post (1)
Wed, 13 Sep 17 6:06 AM | 106 view(s)
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Msg. 33935 of 47202
(This msg. is a reply to 33920 by micro)
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micro:

re: "When there is more debt than possibly be repaid, you simply do not repay it.... You give yourself a big credit and cross it out and start from scratch....:

Maybe, but I don't think so.
A country that has a printing press will never run out of money. And defaulting on the debt would precipitate an immediate crisis. To a politician, that's even worse than monetizing the debt.

I think the country will simply print up the money and pay obligations. That will flood the country with money and have a predictable effect on prices. It will also devastate the country's credit rating, forcing interest rates to go sky high.

Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months

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The above is a reply to the following message:

Re: Weather events 2
By: micro in POPE IV
Wed, 13 Sep 17 5:13 AM

Msg. 33920 of 47202

not saying to do this, but have seen it done...

When there is more debt than possibly be repaid, you simply do not repay it.... You give yourself a big credit and cross it out and start from scratch....

Ever have a company go bankrupt on you ??? And you were a creditor, one of MANY in a long list???

I got NOTHING... Twice.... Those are the chances governments take when buying someone else's debt and knowing full well the full faith and credit of the GUBMINT is not SQUAT. Especially the CREDIT part.

That is what will ultimately happen. The debt will be wiped clean. Those who are holding the bag will just have to go on.

This is just my opinion but as a businessman. I have seen it numerous times personally...

micro....

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