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At least one other time, in 1973, I think, the US administration defaulted. After running up Viet Nam war debt Nixon devalued the currency by de-coupling the va
by Cunard2 18y ago
At least one other time, in 1973, I think, the US administration defaulted.
After running up Viet Nam war debt Nixon devalued the currency by de-coupling the value of the dollar from the price of gold.
The debt was repaid in dollars that had lost their value.
There was another effective default/devaluation, but I can't remember the circumstances, sorry.