> We as a country have not defaulted on our debts and based on the strength of the treasury market few are betting on that scenario.
I haven't read the article yet, but I just want to make one comment about this quote. Although technically speaking we have not defaulted, we are inflating our currency through the roof, which is virtually a default -- In other words, our creditors will not be able to buy the same amount of stuff with the dollars we are going to repay them. And we are only able to do that because the dollar is a reserve currency.
For example, Argentina defaulted because they didn't have enough dollars to repay their debt. The difference in our case is that we own the dollar's printing press.
I haven't read the article yet, but I just want to make one comment about this quote. Although technically speaking we have not defaulted, we are inflating our currency through the roof, which is virtually a default -- In other words, our creditors will not be able to buy the same amount of stuff with the dollars we are going to repay them. And we are only able to do that because the dollar is a reserve currency.
For example, Argentina defaulted because they didn't have enough dollars to repay their debt. The difference in our case is that we own the dollar's printing press.