News for hackers. Stuff that matters.

A comment on Bitcoin could trigger financial meltdown, warns Bank of England. Parent comment

Re:Bitcoin could trigger financial meltdown, warns Bank of E... by syshum on Thursday October 14, 2021 @10:36AM (#28864861)
No nation ever defaults on sovereign debt, not in the age of Fiat (aka fake) money..

They just create more of their fake err fiat money to cover the debt, sure it is worthless but they "paid it off"

See: the 1 Trillion Dollar Coin....

[ Parent | on HN ]
Re:Bitcoin could trigger financial meltdown, warns Bank of E... by seoaeu on Thursday October 14, 2021 @12:49PM (#28866695)
That isn't true. If a country makes a habit of printing too much money, then creditors will start to insist on only loaning it money denominated in other currencies. And once it starts doing that, the country can be forced to actually default on its debts:

https://www.forbes.com/sites/francescoppola/2017/11/14/venez...

[ Parent | on HN ]