Re:I Got the Fed to Release Its 2011 "Treasury Default" Play...
by rufus_foreman on Tuesday November 07, 2023 @04:48PM
(#38183365)
>> The US will never default on debt
The US has defaulted on its debt several times.
For example FDR defaulted on the debt when he refused to pay back bonds denominated in gold with their face value and instead paid them back in devalued currency. The Supreme Court ruled that he had acted unconstitutionally, but also did not force the government to pay back the full value as FDR had said he would ignore such a ruling.
The US has defaulted on its debt several times.
For example FDR defaulted on the debt when he refused to pay back bonds denominated in gold with their face value and instead paid them back in devalued currency. The Supreme Court ruled that he had acted unconstitutionally, but also did not force the government to pay back the full value as FDR had said he would ignore such a ruling.