Peach, remember, you're trying to argue with history buffs.If so why?
When ever any Government becomes a very large debtor Nation like ours, all other Nations that the debtor Nation owes to can control us.
China and Japan can control us anytime they wish to do so.
False.
Have you forgot about the Greek government or
The collapse of the Soviet empire in 1989.
Argentina’s bankruptcy in 2001
Germany has gone bankrupt twice. First, after they emptied their coffers to fight World War I. The end of World War II produced another bankruptcy in 1945.
Great Britain also went bankrupt after World War II.
France went bankrupt eight times between 1500 and 1800, including the French Revolution of 1774.
Spain defaulted seven times on its obligations during the 19th century.