Originally posted by New-born baby
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There's a lot of debts that the US has. To default would be unacceptable. I would expect a war of unpreceeded atrociousness IF it does happen.
What would have to occur for debts to go unpaid? Nobody paying taxes? Or a significant decline in tax revenue due to trade freezing? Or a removal of a AAA rating for US debt? Or governmental action? Or something else?... and what?
What if we suddenly tell the world, "well, sorry folks, no more dollars for you"... What would be the implications? Is that IT?



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