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> The Weimar Republic didn't have a contracting money supply in that period And the German Papiermark was not the default reserve currency for the entire globa

• roenxi 6y ago
  That can change, and quickly. It isn't really plausible at this point that the US is, under any voluntary circumstances, going to attempt to pay its debts down unless the financial system completely collapses. Debt to GDP has been in a pretty solid uptrend for 40 years now. US economists are starting to lay a theoretical groundwork for why the government can just create money at will too. At some point something will give. It is frankly stunning to me that merchants accept ongoing crisis level debts from the US as part of the normal order of things. Someone thinks they are owed something and in real terms they aren't going to get it.