News for hackers. Stuff that matters.
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.

There are no comments on this comment yet.