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re: $1.23 Trillion- US “debt” owned by China- WIPE IT CLEAN AS PAYMENT FOR Corona? Yea or no?
Posted on 3/29/20 at 10:53 am to Covingtontiger77
Posted on 3/29/20 at 10:53 am to Covingtontiger77
The US Dollar is the most trusted currency in the world because of the trust the world has in both the ability and reliability of the US government to honor its debts and back its currency to prevent hyperinflation.
If the US refused to honor its Chinese debt claiming a policy difference, other nations would begin demanding payment on their debt and would refuse to issue more debt to the US. At that point, the only way for the US to continue running its government at a massive deficit would be to start printing more money, resulting in hyperinflation and economic collapse.
If the US refused to honor its Chinese debt claiming a policy difference, other nations would begin demanding payment on their debt and would refuse to issue more debt to the US. At that point, the only way for the US to continue running its government at a massive deficit would be to start printing more money, resulting in hyperinflation and economic collapse.
1
Posted on 3/29/20 at 1:28 pm to MillerLiteTime
quote:
The US Dollar is the most trusted currency in the world because of the trust the world has in both the ability and reliability of the US government to honor its debts and back its currency to prevent hyperinflation.
If the US refused to honor its Chinese debt claiming a policy difference, other nations would begin demanding payment on their debt and would refuse to issue more debt to the US. At that point, the only way for the US to continue running its government at a massive deficit would be to start printing more money, resulting in hyperinflation and economic collapse.
I agree with all of this.
However, I'm not sure other nations would demad payment on debt.
Everyone is pissed at China, other nations may even follow suit.
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