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Nothing bad will happen. This was already the case with the collapse of the Bretton Woods system. The United States de facto refused to fulfill its obligations to provide gold, and Europe abandoned the dollar reserve.Where our nation’s economic basis is the full faith and credit of the Republic, “advice” to default is utterly insane.
Suggestion made in OP is rejected.
Full faith and credit. End of story. Terrible idea.Nothing bad will happen. This was already the case with the collapse of the Bretton Woods system. The United States de facto refused to fulfill its obligations to provide gold, and Europe abandoned the dollar reserve.
It did cause the currency system of Europe to get out of US control, but it was inevitable as the US lost political control there.
When China buys treasuries, it is equivalent to a freeze,
There is never any question of mere trust. It depends on the economic policy of the country and the central bank. If they are loyal to the US, they credit(actualy finance) the US government, that's all.Full faith and credit. End of story. Terrible idea.
A choice to default is irrevocably stupid.There is never any question of mere trust. It depends on the economic policy of the country and the central bank. If they are loyal to the US, they credit(actualy finance) the US government, that's all.
The simplified scheme is as follows: fed issues dollars, the government issues treasuries, fed buys treasuries, sells them to China, their money comes to them and they extinguish them.The US Treasury spends the money.
How is it a freeze?
The simplified scheme is as follows: fed issues dollars, the government issues treasuries, fed buys treasuries, sells them to China, their money comes to them and they extinguish them.
It would be even more stupid to undermine the full faith and credit of the United States.There can be nothing more stupid than what the US government is doing after Bush left. But this is not just stupidity, this is the deliberate destruction of the United States
If it was your fucking " faith", no one would dump them. There's nothing to lose, America is fucked up. Your leader is fag that sold AmericaIt would be even more stupid to undermine the full faith and credit of the United States.
Maybe I wasn’t clear. Your idea is retarded.If it was your fucking " faith", no one would dump them. There's nothing to lose, America is fucked up. Your leader is fag that sold America
Biden loves to suck on the lips of men and boys. In general, all leftists are always disposed towards this.Maybe I wasn’t clear. Your idea is retarded.
As to your absurd side-comment: I don’t like Brandon, but I wouldn’t claim that he’s a homosexual.
leave me alone you fool, you just don't understand how the system works.
I haven’t seen that behavior. By contrast, I have seen him appearing to fondle the prepubescent or barely-pubescent breasts of young girls. That seems more like pedo behavior than homosexual behavior.Biden loves to suck on the lips of men and boys. In general, all leftists are always disposed towards this.
