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Government debt that is denominated in a currency that the government can create at any time is hardly the same as the debt you or I have. Governments do not a
by Guthur 2y ago
Government debt that is denominated in a currency that the government can create at any time is hardly the same as the debt you or I have.
Governments do not actually borrow from anyone if they can create their own money. They provide a facility for the rich to park some of their immense wealth but that is not where the money comes from, those individuals accumulate they do not create money.
- lovich 2y agoYou are ignoring the part where I said they would actively chose to not pay the debt. I understand how nation states who print their own currency have a different set of rules than any agent working with currency that they do not control the monetary supply of. None of that changes the fact that they can _choose_ to default