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> It’s much harder to cut payments to your own people. You never have to when you control the actual production of the currency. A foreign entity might demand
by ur-whale 5y ago
> It’s much harder to cut payments to your own people.
You never have to when you control the actual production of the currency.
A foreign entity might demand to be paid back in actual assets, whereas joe citizen will have to accept any monkey money the USD decides to pay him back with.
- rsj_hn 5y agoLOL, no, a foreign entity can't buy a contract promising to pay X dollars and then demand to be paid in euros or something. The bond is not like a magic lamp that you rub to get wishes. If you don't like the payment terms, then don't buy the debt instrument with those terms.