Re:Has There Ever Been a Default on U.S. Treasury Debt?
by Cunard2 on Friday January 23, 2009 @02:45PM
(#446912)
At least one other time, in 1973, I think, the US administration defaulted.
After running up Viet Nam war debt Nixon devalued the currency by de-coupling the value of the dollar from the price of gold.
The debt was repaid in dollars that had lost their value.
There was another effective default/devaluation, but I can't remember the circumstances, sorry.
[ Parent
| on HN ]
There are no comments on this comment yet.