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> I wonder why in the US states can go bankrupt, states much larger than Greece: Is this true? Has any US state gone bankrupt? Can you share a link? The closes
by gonvaled 11y ago
> I wonder why in the US states can go bankrupt, states much larger than Greece:
Is this true? Has any US state gone bankrupt? Can you share a link? The closest I know was California having some financial trouble, but no bankrupt was declared, afaik.
> Without any impact on the US $
The $ is no normal currency: it is the world currency. Most international contracts are done in $. By chance (if you are charitable) or by design (if you tend to conspiracy theories, like me), the $ gives the US a huge financial advantage.
The markets are rigged in favor of the $.
- saryant 11y agoState governments cannot enter bankruptcy. It's prohibited by both the federal bankruptcy code and the Constitution (states can't repudiate their debt under the contracts clause).