Re:What the world will be like in a hundred years (1922)
by md_ on Thursday January 06, 2022 @11:22AM
(#29825544)
Entirely possible, but defaults tend to be higher when debt is in a currency that cannot be debased, for somewhat obvious reasons.
[ Parent
| on HN ]
Re:What the world will be like in a hundred years (1922)
by jacobr1 on Thursday January 06, 2022 @11:47AM
(#29825912)
There is a constraint the prevents (some) countries from more frequent debasement: if you debase your currency, then lenders will increasingly require that future debt be issued in an external currency. And even if you find lenders, the purchasing power provided in the debased currency remains constrained by external trade in non-debased currencies.