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When government pays the debt with paper issued as a result of issuing more debt, it's like AAPL paying dividends per share in newly issued shares. In other wor
by oleganza 13y ago
When government pays the debt with paper issued as a result of issuing more debt, it's like AAPL paying dividends per share in newly issued shares. In other words, it's de-facto default. De-jure it's not because in this case there is no court over U.S. government to proclaim its default.